Never pay for credit card processing again!
MG4SMB can eliminate 100% of your processing fees while rewarding your cash paying customers.
Eliminate ALL your processing fees
With our cash discount program, you never have to worry about processing fees.
100% legal and available in all 50 states
Eliminate up to 100% of processing fees
Same or next day funding
NO transaction fees!
NO junk fees!
What is Cash Discount?
Cash discount is a program that allows businesses to provide a discount to customers who purchase a product or service with cash. Customers who purchase a product or service with a credit card will not receive the discount.
Key to Success
For the business to truly offset credit card processing fees, the business needs to raise the 'full price' of their products/services by as much as 4% (i.e. equal to the cash discount rate) at the onset of their program. That 4% increase is then used to offset nearly all of their credit card processing fees, including interchange rates.
Accept payments, offset fees, increase sales
Save hundreds per month on card transaction fees.
Increase average spend by 20% with credit versus cash transactions.
Reduce fraud risk with an EMV- and NFC-enabled terminal.
Grow revenue with an all-in-one digital platform.
Keep your customers happy by offering a discount on cash purchases.
How it works
MG4SMB equips you with a cutting-edge payment terminal that automatically offers a discount to cash-paying customers.
We help you adjust your regular pricing to offset processing costs.
We help you communicate your pricing to customers, making your program compliant and your customers happy.
Is this program legal?
YES! Cash discounting is legal in all 50 states.
The 2010 Dodd-Frank Law, in the Durbin Amendment, legally permits business to provide a discount as an incentive to use a method of payment other than credit cards, including cash.
A discount, as defined in the Durbin Amendment, is “a reduction made from the price that customers are informed is the regular price... [and] does not include any means of increasing the price that customers are informed is the regular price.”
Is this like a surcharge?
NO! A surcharge is a small fee added to a customer’s purchase cost for the “privilege” of using a credit card, which can then be used to cover the cost of credit card processing.
Surcharging is still prohibited in some states
Credit card brands (Visa, Mastercard, Discover, American Express, etc.) either prohibit surcharges or require that merchants notify them when implementing surcharges, so as to protect their own reputation
Customers don’t like being charged extra to use a card, whereas getting a discount for using cash is a positive incentive
How MG4SMB Benefits Businesses
Our cash discount program can help businesses save hundreds if not thousands of dollars per month, depending on their monthly processing volume and transaction count.
Top 3 Reasons Businesses Enroll:
- Reduce existing credit card processing fees
Credit card processing fees range from 1.3% to 3.4% plus the payment processor’s cut
A typical liquor store processing 46 transactions a day at an average ticket price of $23 would pay $984 in monthly credit card fees if processing with a competitor at a rate of 2.6% + 10c
2. Upgrade from a cash-only business
44% of people carry $20 or less, and 9% of people don't carry cash at all
Credit transactions are 120% higher than cash transactions, on average
56% of small businesses still do not accept EMV chip cards, despite the fact that being EMV-compliant can decrease fraud by as much as 60%
3. Grow their business with a digital platform
61% of consumers want to receive marketing emails from their favorite brands
Improving a business's Yelp score by 1 start can boost revenue by 5% - 9%
Increasing customer retention by only 5% can improve profits by 25% - 95%
Think of it this way...
✅ Do you own a small business?
✅ Do you accept credit card payments?
❌ Do you enjoy paying processing fees?
Processing fees can be some of the highest expenses for small businesses. You accept credit cards as a convenience to your customers, yet your customers are the ones being rewarded with sky miles while you pay their processing fees! Wait? What? Have you ever asked yourself why you pay for your customers vacations?!
🛑 STOP PAYING PROCESSING FEES!
💰Reward yourself by keeping your hard earned money!
What businesses are ideal for cash discount?
A cash discount program is most ideal for businesses with low ticket sales, since you are passing your merchant processing fees to your customer. Here are some examples: