WEST DES MOINES, Iowa, June 07, 2021 (GLOBE NEWSWIRE) -- VizyPay, an award-winning leader in the payment processing industry for small businesses, today announced it has made the Cash Discount app for Clover point of sale (POS) systems available to all merchants. The app addresses the major industry pain point of unpredictable credit card processing bills while also incentivizing customers to pay with cash.
“The technology we are offering has never been available to merchants in this capacity before,” said Dang Saengchanpheng, Director of Fintech Development and Data Analytics. “Previously, a monthly credit card processing bill could be a killer for small business owners, as sales fluctuate month-to-month. It was impossible to ever know exactly what would be owed, and therefore very difficult to plan ahead. Now, they can know exactly what they will be paying at the end of the month to their payment processor, and that has profound impacts. The merchant can now plan overhead costs accordingly, while simultaneously incentivizing customers to pay in cash, all of which puts more money back into their pocket.”
The app adapts VizyPay’s Cash Discount Program to work for any merchant, no matter who their payment processing company is. The merchant can download the app, determine with their payment processor what their rates are, and utilize the Cash Discount app to implement a small price increase across all items that reflects that rate. During the checkout process, when a customer pays with a card, the app will automatically take the processing fee from the sale, which then allows the merchant to utilize those funds to offset their credit card fees by up to 100 percent. When a customer pays with cash, the app removes the processing fee from the sale altogether, giving the customer a discount.
“After receiving more than 500 requests from businesses and competitors asking when or if our app will be made public, we decided to take the leap,” said Kyle McCann, Director of Business Development at VizyPay. “We felt it was important to offer the power of our Cash Discount Program to anyone, even if they aren’t our customer. The process to try and implement a price increase on your own can take a great deal of time. With our app, merchants can do this with just a few clicks, alleviating hours of stress and confusion. In making it non-exclusive, we now offer the opportunity to implement the process seamlessly and hassle-free. Our company is a big believer in supporting small businesses, and this is another extension of how we live and breathe that idea.”
The original app was launched last June, only available to VizyPay merchants signed on for the Cash Discount Program, but due to high demand it is now open for any merchant to download and use. Since this launch, merchants who have utilized the app and signed up with the Cash Discount Program are offsetting an average of 94.15 percent of their processing fees as compared to their previous provider. When coupled together, the Cash Discount app and VizyPay’s Cash Discount Program can have a profound impact. The merchant can enroll in the program at one low monthly fee based on processing volume, ultimately helping further reduce overhead costs.
The Cash Discount app is available to any merchant using a Clover POS system for $14.95 per month for non-VizyPay customers, or free for VizyPay customers. For more information, visit www.vizypay.com/. To download the Cash Discount app, click here.
VizyPay was founded in West Des Moines, Iowa, by entrepreneurs who each had either significant credit card processing experience or were previously small business owners. Their combined understanding of these different industries created the perfect cocktail for a credit card processing company that could truly look out for the business owner. VizyPay is growing rapidly by being honest and simple in an industry that is known for being complicated and deceitful. Their business model is unique and making a huge splash nationwide.
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Source: Company press release.