How to choose a cash discount program.
Short answer: Ask eight things before you sign: whether the terminal charges the posted price or adds a fee line, whether the terminal is yours or a lease, every monthly fee, the contract and cancellation fee, whether the card price covers processing in full, how debit is handled, whether they set up your tags and signs for your state, and who you call for help.
Eight questions to ask any provider.
- Does the terminal charge the posted card price, or add a fee line?
A “non-cash adjustment” or “service fee” line on the receipt is treated as a surcharge. Ask to see a sample receipt.
- Is the terminal mine, or a lease?
Many “free terminal” offers are leases you keep paying for years. Ask who owns it and what happens if you leave.
- What do I pay each month?
Ask for every monthly fee in writing: service, PCI, statement and software fees.
- Is there a contract and a cancellation fee?
Get the term and any early termination fee in writing before you sign.
- Does the card price cover the processing in full?
Ask what you keep on a card sale versus a cash sale. In a good program they match.
- Does debit pay the card price, not a fee?
Debit can never be surcharged. In a cash discount, debit simply pays the posted card price.
- Will you set up my tags and signs for my state?
Rules differ by state; New York, for example, requires the card price to be posted.
- Who do I call when something breaks?
Ask for a real person and a phone number, not just a ticket form.
Our answers.
Both prices on every tag and nothing added at the register. The terminal is free and yours to keep, with no lease. We pay your monthly service fee, and sign-up is free. Every rate and fee is in writing before you sign. Debit pays the card price, signs are worded for your state, and a real person answers your email. Get started free.
Questions owners ask.
Does the terminal charge the posted card price, or add a fee line?
A “non-cash adjustment” or “service fee” line on the receipt is treated as a surcharge. Ask to see a sample receipt.
Is the terminal mine, or a lease?
Many “free terminal” offers are leases you keep paying for years. Ask who owns it and what happens if you leave.
What do I pay each month?
Ask for every monthly fee in writing: service, PCI, statement and software fees.
Sources
General information, not legal advice. Rules change and differ by state and city; check the rules where your business is. See our terms and disclaimers.