Guide To Dual Pricing – Pay 0% – Save your business some money!
Can you pay 0% for merchant services?
We are here to answer that question. We will go over the Dual Pricing program, talk about surcharging, and explain the differences.
Which one will work for the business is up to you, and we offer free consultations to discuss this and other cost-saving opportunities.
With 20+ years of experience in the Bankcard industry and opening thousands of merchant accounts for business owners all over the U.S.A., we wanted to share our knowledge on the trend sweeping across the nation for merchants to pass fees to customers/cardholders.
While this only works for some businesses, many business owners find this option works for them.
We are focused on the merchant having the right technology and pricing and getting customer service when they need it. We are your consultants, and we help you figure out what type of account you need, whether you are a startup company or have been in business for 50 years. We listen, and then we advise and present the options.
We have the experience and knowledge to assist business owners with getting the best interchange fees and Pricing and in servicing their accounts. We have been in the business since 2001 and have many long-time merchants who depend on our business knowledge to help them navigate Technology, PCI compliance, E.M.V., chargebacks, and more.
“WE EMPOWER OUR MERCHANTS WITH INFORMATION, ALLOWING THEM TO UNDERSTAND THE PAYMENTS INDUSTRY BETTER.”
“KEEP MORE OF YOUR PROFITS.”
– Allen Kopelman, C.E.O Co-Founder Nationwide Payment Systems.
What Is Dual Pricing 0% Program?
Dual Pricing, formerly known as Cash Discount, has been available for years to many other merchants, including higher education, government, gas stations, and utility providers. In 2010, the Durbin Amendment, a federal regulation, made a change that allows independent business owners to use the same programs.
What is Dual Pricing?: The Credit Price is posted, and if a customer wants to pay with “CASH,” then a discount is applied. The bill is $104.00, and if you want to pay cash, there is a 4% discount, and you would only pay $100, saving 4%. (Example)
A ‘’Cash Discount’’ happens when a merchant decreases the price for cash purchases. The program does not discriminate one card over another. Cash Discounts reward customers for paying by a particular means and for not using a specific means of payment.
How does Dual Pricing work?
The higher prices are posted and then a discount is applied when a customer pays with cash.
What benefits does Dual Pricing provide merchants?
With Dual Pricing merchants can reduce merchant service fees with little to no impact on your current sales volume. Dual Pricing is a legally compliant and available in all 50 States. It works on all credit card types, including mobile wallets like Apple Pay.
Dual Pricing Vs. Surcharge
DUAL PRICING
- Registration with the card brands: Not Required
- Terminals and Point of Sale Systems show the higher price.
- Easy to understand, customers who pay cash save.
- Easy to Implement and Easy to understand: Yes
- National Availability: All 50 States
SURCHARGE
- Registration with the card brands: Must Register
- Customer Notice Must be Posted 30 days in advance. Yes
- Special Software Required to be Compliant: Need Special Software
- Signage complex for customers to understand: Yes
- Easy to Implement and Easy to understand: No
- National Availability: There are states that do not allow this and some have caps, we are aware of all the programs and we can advise you accordingly.
Why Is Dual Pricing 0% Legal?
With the Dual Pricing Program, merchants can reduce their credit card processing costs by charging more for all products and then offering a Cash Discount this became legal once the Durbin Amendment, which is tied to the First Amendment, was passed.
There were lawsuits in all 50 states, including Ohio v. American Express, in which the Supreme Court of the United States solidified that giving a discount to cstomers when paying Cash is legal. Our Dual Pricing Program is a legal and can be used in all 50 states.
Signage
Want to accept credit cards without the expensive fees? We and guide you through the process and we you can either post both prices which is required in a few states or you can just post a sign that offers a discount for customers who want to pay cash.
What does Nationwide Payment Systems offer?
- No fees – transaction, A.V.S., Batch, etc …
- You pay a monthly program fee that includes one terminal, and you can add additional programs. We also offer affordable point-of-sale systems for Restaurants, Nightclubs,, and Retail.
- No Interchange or Card Brand Fees
- No Monthly Merchant Account Fees
- No PCI Compliance fees – you must be PCI Compliant
- Dual Pricing is legal in all 50 States
Frequently Asked Questions
HOW MUCH MONEY WILL YOUR BUSINESS SAVE?
The only fees you will be billed for are PCI non-compliance fees; if you complete your PCI compliance, your only fee will be a program fee and a fee per terminal.
CAN I SWITCH BACK TO THE TRADITIONAL PROGRAM?
Yes, you can switch back to a traditional program. We reprogram your terminal and change you back to traditional Pricing.
DO I NEED TO POST SIGNAGE?
You can post signage or post both prices we can go over this and address any rules your specific state might have.
HOW IS THE FEE DETERMINED?
It is a flat fee, we anylize your last 3 statements and determine a fee that will work for your business type, average ticket size and monthly volume.
Also can discuss what type of equipment, point of sale or software you might need.
Cash Discounts In The News
This is an excerpt from a blog by Jay Stanley from the ACLU. He was talking about not going to a cashless society and his thoughts on Cash Discounts, which are being adopted by many businesses across the country. N.P.S. has been providing merchant services since 2001, and this is a great product. It saves businesses money, and from Mr. Stanley’s take, it is also “Socially Responsible”. This is an excellent endorsement for Cash Discount; the excerpt from the article is in yellow, and you can read the whole article by downloading it.
“Understand why some stores charge fees for credit card use. If you visit a store or restaurant that charges a higher price for credit card purchases, understand that this is a socially beneficial policy and be supportive. Merchants are explicitly permitted to pass swipe fees (also known as “interchange fees”) along to customers, which is fairer to low-income customers who don’t have credit cards and shouldn’t have to absorb the costs of those cards. If you are a business, consider passing along those fees to increase fairness and customer awareness of how the current system works.”
Is it time you started saving money?
“KEEP MORE PROFITS & GROW YOUR BUSINESS”
SAVE $10,000 TO $100,000 OR MORE A YEAR!
Nationwide Payment Systems is a full-service merchant processor, and we provide many other products and services. If you want to sign up now, click the link “apply now” to go to our secure online application, fill it out, and then you will receive an application by email to E-Sign! Approval takes less than 24 hours.
In Today’s economy every busienss owner wants to save money we can explain all of the programs available, explain your options when it comes to hardware, software, point of sale systems and other factors. Helping you accomplish your goals and helping you save time and money is our passion.
