HOUSTON, Nov. 15, 2017 /PRNewswire/ -- While cash discount programs are not especially new (they've been around in Europe for decades), they are now becoming the hottest thing to hit small business practices in the United States, with the advent of programs like Merchant Driven's MerchantWin.
Made easier by the use of patented technology, Merchant Driven's (MDI) MerchantWin program automatically issues the posted cash discount to the customer's ticket when they pay by cash or store gift card, based on a service charge that is applied to every sale.
According to the Small Business Association (SBA), about 20 percent of small businesses fail within the first two years and about 50 percent suffer the same demise in the first five. While there are a number of factors leading to these statistics, a recent Insurance Quotes infographic, posted by Entrepreneur.com, showed that 29 percent of businesses fail because "they run out of cash." Unfortunately, new business owners often underestimate the cost of doing business; credit card processing fees notwithstanding.
By charging a small service fee on every store transaction, and offering a discount to customers who pay with cash, small business owners can save thousands of dollars every month on credit card processing fees; dollars that can be spent on much-needed business boosters, such as marketing and expansion.
Of the MDI MerchantWin program, Sage's Mobile Pet Spa Owner, Sage Gallegos said, "Since I started using this system, I've saved about $1500 a month on credit card processing. So far, only a couple of customers have balked at the service fee. When I explain about low margins, the costs involved with the new (EMV chip) hardware, and competition, they seem to understand. Besides, they always have a choice to pay with cash instead. I haven't lost any customers, and I've saved a bundle with MDI MerchantWin."
No longer are merchants forced to pay for those credit card company incentives such as miles, points, or cash back programs; now, merchants can legally, and easily, shift those costs to the cardholder, and send those credit card processing savings straight to their bottom line.
About Merchant Driven Inc.
Headquartered in Houston, Texas, Merchant Driven, Inc. (MDI) has been assisting business owners by eliminating, or greatly reducing, the costs and frustrations associated with credit card processing services since 2014. At MDI, we feel that merchants should no longer have to foot the bill for credit card company incentives such as miles, points, or cash back programs; through our patented technology, those fees are now easily, and legally, shifted to the cardholder instead. To learn more, visit https://www.merchantdriveninc.com.
Merchant Driven Inc.
12625 Memorial Dr.
Houston, TX 77024
Small Business Credit Card Processing
Small business credit card processing
Pet Groomer Processing Credit Card
SOURCE Merchant Driven Inc.