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The Green Sheet Online Edition

March 09, 2020 • Issue 20:03:01

New Products

Solve, simplify cash discounting and surcharging

Product: Cash Discount program
Company: Fluid Pay LLC

Fluid Pay LLC, a cloud-based Level 1 PCI-compliant payment gateway and service provider, launched two industry-compliant programs designed to help ISOs and merchant level salespeople (MLSs) demystify and streamline cash discounting and credit card surcharging. The two programs are part of the company's commitment to simplify complex issues facing payments industry stakeholders, company representatives stated.

"We are very excited to see the launch of these two offerings along with our other 20+ cloud based products," said Jeff Rooney, chief technical officer at Fluid Pay.

Nicholas Cucci, co-founder and chief operating officer at Fluid Pay, agreed. "Our partnership with Debit Technologies (DTI) enables us to offer an exclusive, patented technology that can help offset total card payment processing costs," he said.

Automated cash discounts

Cucci noted that cash discounting is built into the POS terminal software, where it automatically calculates precise discounts. Designed to encourage customers to pay by cash or gift card, the software applies a small service charge to standard list product pricing for credit card transactions. These fixed amounts are waived for cash and gift card transactions, he stated.

In-house, compliant surcharging

Cucci additionally noted that Fluid Pay has launched an in-house, industry-compliant surcharging platform. The platform is for credit cards only and automatically blocks surcharging on debit card transactions and in states that have banned the practice.

Fluid Pay also provided the following additional features and benefits of the surcharging program:

  • Real-time surcharge confirmation and processing: The payment card BIN is validated in real time as the credit card is being entered into the Fluid Pay system to check surcharge eligibility.
  • Compliant surcharge pricing: To comply with payments industry surcharging guidelines, the surcharge amount can be a fixed amount or percentage but may not exceed 4 percent.
  • Appropriate disclosures and posted signage: All surcharging fees are disclosed on all checkout pages and receipts.
  • Tip adjustment support: The Fluid Pay solution accommodates tip adjustments.
  • POS Hardware compatibility: The Fluid Pay solution is currently compatible with Dejavoo terminals.

Processor-agnostic, reseller friendly

Cucci noted that Fluid Pay is 100 percent processor agnostic, and that merchants only come to Fluid Pay through the company's approved channel partners and resellers. The secure Level 1 PCI-compliant and cloud-based payment gateway enables merchants to process transactions from a variety of devices around the world. It also provides partners with suite of business-centric tools and resources, he added.

Fluid Pay works with ISOs, VARs, MSPs, and software application developers, with 24/7/365 support to keep partners connected and processing. The company works with a variety of industries, business types and small to enterprise-scale merchants, he noted. end of article

Website: www.fluidpay.com Contact: sales@fluidpay.com

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Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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