

Cash Discount
Here at PayMeta we have a processing solution called Cash Discount which eliminates 95% of your processing fees you would incur with traditional processing. The way it works is by an app that is built into the POS system that works with your inventory. If a customer uses a credit card it automatically will bump up the charge an extra 4% but if they pay by cash, they get a discount of 4%.
By passing the credit card rate on to your customers, this helps businesses eliminate credit card fees. Here is a breakdown on how much traditional processing can cost a merchant based on the monthly volume processed, versus using a cash discount program.
Traditional Processing on Clover POS
● Monthly processing volume = 50K
● V/MC pass through interchange Rates typically between 1.50%-2.95%
● Monthly volume of 50K x 1.50% or 2.95% You are looking at getting charged a minimum of $750- $1,475 plus transaction fees and other monthly fees.
● Clover POS station cost $1,352.00 plus mobile device of $495.00
● Clover POS service fee $39.95 plus $9.95 for each additional device
● Estimate of monthly fees $1,500 a month plus purchase of POS system
Cash Discount Program
● Monthly processing volume = 50K
● Cash discount rate 4.00% all other fees, dues and assessments waived with flat rate of 4.00% eliminating 95% of processing charges
● Free Clover POS system
● Monthly POS charge $39.95 plus $9.95 for each additional device
● Cash Discount app $19.95
● Total Monthly Fee $69.85