American credit card processing company VizyPay has launched a new programme to enable merchants to offset their credit card fees without a service charge.
Dubbed Cash Discount 2.0, the new programme allows business owners to increase their prices by 4%.
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VizyPay credit card fees:
VizyPay’s technology takes the increased price on the back-end to pay off the business’s processing expenses.
The new method is aimed at easing merchant’s worry about hidden fees, interchange rates, and unpredictable bills.
The Cash Discount 2.0 does way with requirement for signage or line items on the receipts to indicate customers of their excess spending using their card.
VizyPay managing partner Austin Mac Nab said: “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.
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By GlobalData“We want to create a transparent payments environment where merchants not only understand the fees that come with credit card acceptance, but also have the option to avoid them completely.”
VizyPay’s new programme also allows small business owners to offer discount ranging from 1% to 4% to cash paying customers.
