Cash Discount Program vs Merchant Account Surcharge vs Convenience Fee - What is the difference
#cashdiscountprogram #merchantaccountsurcharge #conveniencefee
Cash discount program for merchant accounts, merchant surcharge programs and convenience fee programs: What’s the difference between the three programs?
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Merchant account cash discount vs. merchant account convenience fee: What’s the difference?
So think of a listed or stated price of a product or service.
1- A surcharge program is the process of ADDING a fee on top of the original sale amount. (so it’s an addition on TOP of a price point)
2- A cash discount program is the process giving a discount IF someone pays with cash
IF the customer elects to pay with CASH vs. using a credit card, they would pay a cheaper price or lesser dollar amount for the product or service in question. Hence, the cash discount. Pretty straight forward.
3- and a Convenience fee is typically a flat fee that applies to making a purchase
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