What is Cash Discounting?
Cash Discounts is a new feature that lets merchants offer discounts to customers who pay with cash. This pricing strategy is increasingly popular in the U.S. as a way for small businesses to offset credit card processing fees.
With Cash Discounts, your advertised price includes card fees, but customers who pay with cash (or other non-card methods) automatically receive a discount at checkout.
This transparent model helps you:
Encourage cash payments
Offset processing costs
Stay competitive without raising prices
How do I setup Cash Discounting?
You can enable this feature directly in your Lopay App by following these steps:
1) Tap the icon with 3 lines in the top right corner of the app to open the More screen
2) Select 'Payment setup'
3) Select 'Cash discount'
4) Accept the associated Terms and select 'Continue'
5) Turn on (or off) Cash Discounting. You can also edit the % if required
How much does Cash Discounting cost?
Our Cash Discount feature is available for just 3.49% per transaction with Instant Payouts to your connected bank and allows you to process unlimited credit card transactions and offset up to 100% of processing fees.
Please note, there is no additional charge for Tap to Pay or premium cards with Cash Discounting. However Payment Links incur an additional 0.49%.