IRVING, Texas, Feb. 21, 2017 /PRNewswire/ -- SignaPay, a leading merchant services and payment solutions provider, today announced the launch of PayLo, a newly patented technology that allows merchants to reduce or eliminate the costs of credit card fees while remaining compliant with all applicable laws and regulations.
PayLo is a cash discount program that applies a small customer service fee to each sale made on a merchants' POS terminal. The service fee is eliminated if the customer pays with cash or gift card. The software automatically determines the service fee and discount amounts, pre-tip, avoiding the pitfalls of manual programs that may overstate gross sales. All interchange, card association and network fees are collected and handled by SignaPay, leaving the merchant free of program administration. Clearly defined signage is provided at point of entry, point of sale and itemized on the customer receipt. It's simple to set up, transparent to the customers, and hassle-free for the merchant. To date, the technology has been rolled out to thousands of locations across the US and the merchant feedback has been extremely positive.
SignaPay's CEO, John Martillo is excited about what this means for small businesses across the country. "Too often merchants feel trapped. They have to provide their customers with the convenience of credit card payments but in doing so, they assume the burden of fees on smaller purchases," he says. "With PayLo, they can insulate themselves from fees when a credit card is used through a small service fee applied to all credit card purchases."
"I haven't experienced any push-back at all from my customers," said Rafael Santamaria, Owner of El Carbonero Restaurant in Lancaster, CA. "I especially like the fact that I'm not having to pay heavy credit card fees every month."
"It is something that business owners have wanted for a long time," said Chad Jacobson, owner of ProV3 Payments, a selling partner of SignaPay. "They are intrigued about the possibilities of reinvesting their credit card processing fees back into other ventures. They also love the flexibility of the program, of being able to customize it to make sense for their business."
"I haven't had anyone complain and it's been a huge savings for me," said Angel Yankas, Owner of Angel Cleaners in Montebello, CA.
The PayLo software is currently the only legally compliant automatic cash discount software available in the US, having gone through extensive vetting with all major credit card providers, all applicable state laws and federal rules and regulations. The developers of the software have also registered it with the US Patent and Trademark Office.
There are no pinpads required with PayLo, EMV chips are automatically included in the setup, and PayLo offers mobile options with wireless terminals. PayLo works with Apple Pay as well as Android payment.
SignaPay also offers a PayLo 30-day free trial to merchants without setup fees or early termination fees. If a merchant is not 100% satisfied with the program, they can return the equipment and revert to standard credit card processing at any time without obligations. For more information on PayLo by SignaPay, please visit www.SignaPay.com/PayLo/merchants or call 877-751-2891.
About SignaPay LTD:
Founded in Irving Texas in 2007, SignaPay™ offers a complete menu of payment solutions for merchants including credit card and debit card processing, gateway integration, fraud prevention, customer loyalty, analytics software as well as equipment including mobile and point of sale systems. SignaPay™ is dedicated to their partners and merchants and is committed to forging strong client relationships by providing best in class services and solutions. The success of our merchants and partners define our own success. At SignaPay, we focus on two things: People. Payments.
Media Contact Information
Parmet Marketing and Public Relations
Director of Marketing, SignaPay
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SOURCE SignaPay LTD