Cash discounting by Shaw Merchant Group? If you want to crush your sales, you need to study the cash discount agent program and how this whole process works. If you know it from inside out, you can sell it with confidence. You need to decide the model of business you will choose for cash discounting. Places, where there is addition of tips like sit-down restaurants, can make the cash discounting difficult. Also, a pizza place having a huge line outside won’t be a good candidate either.
Special Considerations: Banking and Credit Card Surcharges: One surcharge experienced by many consumers is the automated teller machine (ATM) fee associated with using a network’s ATM. The ATM surcharge is most often levied by the bank or other institution who owns and operates the machine. An ATM fee is shown as a set dollar amount per transaction. Most ATM providers waive fees for customers of the sponsoring ATM. Some businesses have added surcharges to compensate for the costs associated with accepting credit cards. Another name for these fees is a checkout fee. This additional fee may be a specific dollar amount or may be a percentage of the total price of the goods or services purchased.
Highlight your strengths and differentiators that set you apart from the competition. Motivate prospective customers to learn more. Your value proposition should be comprehensive, yet brief, and solve specific pain points for the customer. When possible, quantify value for your customers—provide a concrete and tangible ROI. And of course, continually reinforce your values to the customer.
What is cash discounting? Cash discounting is just like the name says. It is a discount you will get if you pay using cash. The merchant has to pay the processing fees of credit card if the customer chooses to pay with the credit card. So, the merchant will surely increase the price to recover the fees. Now, if the customer decides to pay via cash, there is no need to charge extra fees, right? So, they will get a cash discount. The cash discount is only applicable if the customer pays via check or cash. A cash discount is a great alternative to a surcharge. Continuing the example, if a surcharge is illegal then what will the merchant do? Well, they will simply increase the product price to 102 and offer a cash discount of 2. Now, if the customer pays using a credit card, they will have to pay 102 but if they pay using cash, they will only have to pay 100. The 2 bucks discount will be given here. Read more details on Best Cash Discount Program.
The way to do this is to gain permission to give an overview. Say something like, “I realize we’ve been working together for a few years, and we’ve never done a general overview so you know what we bring to the table. We have some major differences from our competitors in terms of offerings, and some new areas that I think could make a difference for you. At some point, do you mind if I give you the round-the-world overview?”