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Education

Six factors to consider that integrate cash discount technology, including POS
systems, payment gateways, and terminals.
when evaluating cash 3. Hidden costs

discount programs Some providers will charge setup fees or bake in other
hidden costs. In most cases, you can demand these
costs to be waived. Cash discount programs are simple
in concept, and a good provider will be completely
transparent in its pricing and not charge unnecessary
fees.
4. Fee options

Good providers offer two service-fee pricing options:
either by an average ticket size (flat fee) or a percentage
of the sale amount. Businesses with sizable ticket
discrepancies need the percentage model, while
businesses with consistent average ticket size work well
with a flat fee.
5. Support

By Matt Nern Since cash discount programs can be complex for
SignaPay Ltd. merchants to understand initially, it is imperative to
work with a partner that provides complete account
ash discount programs are quickly transform- startup and retention support to help your merchants get
ing the payments industry, allowing merchants off to a strong start.
to reduce credit card processing fees and giv-
C ing ISOs the ability to increase their residuals. Likewise, select a provider that offers onboarding
With more cash discount programs becoming available, training for you, as the ISO, and your merchants so that
it's important as an ISO or merchant level salesperson to both parties fully understand the legality and logistics of
consider the logistics and benefits that are provided and the cash discount technology.
sign with an experienced provider that offers a reputable
program. Last, be sure to find out if the provider offers a hotline
phone number in case your merchants need immediate
Here are six factors to consider when selecting a cash assistance with cash discount software issues, equipment
discount partner: error troubleshooting or billing questions.

1. Legality 6. Marketing materials
Not all cash discount programs are built the same. In an additional effort to help you sell the cash discount
Make sure the provider you choose has a good standing program to merchants, work with a provider who offers
with the Better Business Bureau and can provide clear customizable marketing, sales, merchant retention and
evidence that the company adheres to all state and federal training materials and tools. These materials will enable
laws in its processes. A legal cash discount program must you to create your own branded marketing collateral and
have clear signage that lets the customer know, prior to sales training guides to help you gain a competitive edge
purchase, the cash discount amount – whether it's a flat against other ISOs selling cash discount technology.
fee or a percentage-based fee.
Cash discount programs are growing fast in the payments
In addition, ask to see a sample receipt. In order to adhere industry. Make sure you sign with an experienced partner
to federal standards, the cash discount program must that offers a fair and proven program by following the
show the service fee or discount amount clearly to the recommendations set forth above.
customer on the receipt. Matt Nern joined the SignaPay team in 2016 and is responsible for over-

2. Equipment seeing all aspects of the company's sales, business development and
marketing. Matt has more than 18 years' payment processing industry
Make sure the provider's technology and equipment experience and previously worked as Senior Vice President of Sales
accepts all card types as well as mobile wallets and EMV and Marketing at Secure Bancard LLC and as Vice President of Sales at
(Europay, Mastercard and Visa) chip cards. Cash discount CrossCheck Inc. He has recruited, trained and developed numerous sales
technology does not work on all equipment brands. A teams nationwide that consistently exceeded sales projections. Matt
reputable provider will also offer a variety of solutions received a Bachelor of Arts in Economics at Sonoma State University.

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