Credit card fees got you down? Dual pricing, offering discounts for cash payments, can help. But before you jump in, know the rules!
The Good News:
- Dual pricing is usually legal, unlike adding fees to credit cards.
- Both cash and credit prices must be clear so customers know where they stand.
- Discounts should be real, not just hidden price hikes.
The Rules to Follow:
- Check your state’s laws – some have extra rules.
- Don’t confuse customers – explain the discount clearly on signs and receipts.
- Choose a point-of-sale system that handles dual pricing (saves headaches!).
Avoid These No-Nos:
- Don’t raise prices just to offer a “discount” on cash – that’s illegal!
- Don’t upset customers with unfair discounts or confusing practices.
Get Help if Needed:
- Talk to an experienced payment processor to make sure you’re doing it right.
- Start small and test things out before going all-in on dual pricing.
By playing it smart and keeping things clear, you can reap the benefits of dual pricing without any legal drama.
If you have any questions, BikPays is happy to help businesess of all sizes take a step forward. You can contact us here: info@bikpays.com or (925)-350-9453 .
