Cash discounting gains momentum, backlash
T he rising popularity of cash discounting programs is sparking lively debates among legal and payments analysts, most recently with reports that First Data Corp. has deleted a cash discount app from its Clover app marketplace. James Shepherd, CEO at CCSalesPro and cohost of The Green Sheet's podcast series, first broke the story in a Sept. 19, 2018, blog post titled "News Alert: First Data Drops Cash Discounting Apps." These developments have been confirmed by a First Data memorandum and participating First Data ISOs.
In a memo to sales channel partners, First Data acknowledged that some of its cash discount apps were noncompliant. "To protect you and your business from fines, we are removing apps that add surcharges to card transactions," First Data wrote.
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Podcast #8 - Changing Consumer Payment Preference
