It’s 2021, and what better way to celebrate a new year than introducing a new way to put more money into your pocket? We’re proud to introduce Riverside Payments’ new Cash Discount Program—our way to ensure that payment processing fees don’t weigh your business down. 

What is a Cash Discount Program?

We’ve always been committed to finding new ways to save you money, and our Cash Discount Program does just that! With Cash Discount, increase your prices by a small margin in order to cover the cost of credit card processing. Then, you offer your customers a discount for paying with cash instead of their credit card—so when they do pay with their credit cards, those processing fees are covered by the customer. 

The major differences between a cash discount and a surcharge are the legal limitations of a surcharge, and what the customer sees when they are paying. Multiple states don’t allow the use of surcharges for credit cards, and surcharges can’t be to debit cards at all. With a surcharge, when your customer pays, they see a price increase for the privilege of using a credit card. 

With a cash discount program, you’re adding a service fee to all transactions, and offering a discount to your customers for using a particular payment method. There are requirements that must be met in order for them to remain legal, but they can be applied to credit and debit cards equally and are a valuable way to save your business money on processing fees. 

Interested in hearing more about our Cash Discount Program? Get in touch!