At Elite Merchant Services, we provide a number of options for merchants to process their credit card transactions.
With our surcharge program, merchants are allowed the flexibility to decide if charging customers a check out fee is right for their business. These fees are in addition to the purchase and cover the majority of the cost to the merchant of accepting that means of payment.
The practice of charging customers a small fee for the privilege of using their credit cards, known as surcharging, is widespread in many countries. Surcharging is gaining popularity among many different industries and will only continue to grow as more businesses realize the cost savings of this solution. By using check out fees merchants can build their fees right into the cost of the item or service. With no loss of profit due to processing, businesses are able to reduce their expenses providing additional capital for growth and expansion. Surcharging can offer especially big benefits for small business allowing them to increase their bottom line.
As more industries begin to implement surcharging, consumers are becoming more familiar with the practice and acceptance is growing.
The cash discount works in a similar fashion as the Surcharge Program, however instead of advertising the cash price and charging a fee, pricing is set as if all customers will pay with a credit and they are then given a discount if they pay with cash.
Both programs require the merchants to register with the card brands and put ample notification at your business entry and on the counter of the charges and/or discount.
If you would like more information about surcharging or the cash discount programs for your business, please contact us at 248.681.3300.