Person taking credit card out to engage in credit card processing

Cash Discount Processing: What Alaska Businesses Need to Know

As an Alaska business owner, you may have heard that there is a new way of processing credit card transactions called “zero fee processing.” Could there really be such a thing as taking credit cards for your goods and services without paying any fees? The truth is, at Cornerstone Credit Services, we can eliminate almost all of them with cash discount processing in Alaska. Whether you are a new business owner, new to CCS, or already a valued client, we can help you put cash discount processing to work in your business. Here’s how it works and how it can benefit you.

Would you like to know more about cash discount processing? Call Cornerstone Credit Services today to discuss how it can work in your unique business!

How Credit Card Processing Cuts into Your Profits

In your business, when you accept credit cards for your products or services, a fee must be paid to process the card. And if you aren’t using cash discount processing, that fee comes out of your business’s profits. How significant is that cost? You might be surprised.

Check your merchant services statement. Look at the fees you’re paying for this, and you could easily find that you’re giving those credit card companies and banks $200, $500, or even thousands of dollars per month, depending on factors like the processor and the number and amounts of transactions. After all, processing fees for major credit cards can be 3 or 4 percent or more. For businesses with a relatively small profit margin, those fees can cause serious damage to your bottom line!

What Is Cash Discount Processing?

Cash discount processing involves a different way of pricing and processing transactions. You give customers the option of paying with cash or a card. If they pay with cash, they get a cash discount. Since you aren’t processing a card, no one has to pay a processing fee.

So, how does this eliminate fees? Essentially, your customer using a credit card is paying an amount that covers the item and the fee, but those using cash get a discount, so they pay less. You can still accept credit cards, and people will still use them. Yet, you will no longer lose money to processing fees.

Does Cash Discount Processing Eliminate All Fees?

Zero fee processing is the big buzzword in cash discount processing in Alaska right now. Unfortunately, it gives the impression that you will never have any merchant services fees at all! At CCS, we value transparency and want you to know that while transaction processing fees can be eliminated, there are other fees that you’ll probably incur that aren’t directly related to credit card processing.

We probably can’t protect you from all fees, but we can eliminate nearly all your credit card processing fees with cash discount processing. In fact, we’re here to help with all your payment processing issues.

Who Can Benefit from Cash Discount Processing?

Many businesses can benefit from cash discount processing. In fact, about 90% of our clients are using this method of saving on fees. Some of the businesses where this method works beautifully include the following:

  • Restaurants
  • Convenience stores
  • Gas stations
  • Mom and Pop stores

Businesses that have relatively low transaction amounts tend to benefit more than those that only sell big-ticket items like cars or furniture. If you’re unsure where you fall on the spectrum, just call us at CCS. We are happy to answer your questions and advise you on the best way to proceed – with or without cash discount processing.

Is Cash Discount Processing Available in Alaska?

This special method for processing credit cards has just recently come to our state. Now, you can get cash discount processing in Alaska from Cornerstone Credit Services. When you call, we will discuss the details and explain how they apply to your business. After we make an agreement, we come to you, give you the signage you need, and program your terminals for credit card processing using this method.

Are you interested in getting a free Clover POS system? Contact CCS to find out if your business’s volume qualifies you.

Not sure where to start?

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