News

VizyPay cash discount program helps retailers, customers alike

October 19, 2018

VizyPay, a credit card processing company, has unveiled a cash discount program that allows merchants to offset service fees without increasing prices.

Normally, merchants must raise prices to offset credit card service fees, ultimately penalizing the customer. But with the cash discount program, merchants can give customers the option to pay a discounted price when they pay with cash or in-store credit. This eliminates the storewide service charge and reduces costs for both the customer and business owner.

In the past, such programs have been available only for higher education, gas station and utility providers. However, they can now be used by independent retailers in the automotive, food, bar and spa services industries, among others, with the VizyPay cash discount program offering an alternative to complex credit card processing fees.

"Credit card companies have been the driving force into a cashless society, yet small business owners are the ones left footing the bill on the rising and hidden rates that come with credit card acceptance," VizyPay Managing Partner Austin Mac Nab said in the release. "We want to create a transparent payments ecosystem where merchants not only understand the fees that come with credit card acceptance, but also have the option to avoid them completely."