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Education

A reputable provider should
have a deep understanding of the
payment processing industry and
be able to help tailor solutions to
specific merchant needs.

This way, there is no confusion about the terms of the
program, and customers can make informed decisions
about whether or not to participate.

Merchants also need to make sure that they have
accurate price listings on display for customers, and
while not required, it’s a good practice to display
cash prices as well. That way consumers can see what
potential savings they can get by paying with cash.

When looking for a cash discount provider, merchants
and merchant level salespeople seeking business
partners should look for providers with many years
of experience, a good reputation, and a track record of
honesty and transparency.

A reputable provider should have a deep understanding
of the payment processing industry and be able to help
tailor solutions to specific merchant needs. They should
also be transparent about their costs and provide the
merchant with a clear breakdown of the fees. Any
provider that does not meet these standards should
be avoided, as it may lead to unexpected charges and
financial losses for the merchant, and reputational
damage to agents working with them.

Following these guidelines can ensure that cash
discount programs are compliant with both Visa and
Mastercard rules. This will help to protect merchants
from potential legal issues or financial penalties.
Starting a cash discount program can provide
numerous advantages to businesses. It can help offset
expenses, increase cash flow, and improve customer
relationships. And, with the right tools and resources,
businesses can continue to improve their products and
services, while customers can enjoy better experiences
and more value for their money. This is a win-win
situation for both businesses and customers, and it has
the potential to lead to long-term success and growth.

Elie Y. Katz is founder, president and CEO at National Retail Solutions
(NRS), https://nrsplus.com. Contact him by phone at 201-715-5179
or by email at ekatz@nrsplus.com.

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