For small business owners, finding a way to accept credit card payments without incurring hefty processing fees can feel impossible. Credit card companies typically charge merchants between 1.5% and 3.5% per transaction, which can quickly eat into profits. However, TapSimple has a solution that effectively offers free credit card processing for businesses through an innovative cash discount program.
This blog will explain how TapSimple’s cash discounting model works, how it leads to free credit card processing, and why it’s a game-changer for small businesses.
What is Free Credit Card Processing?
In traditional credit card processing, merchants are charged a fee for every transaction processed through a credit card, which covers costs like interchange fees and processing charges. Free credit card processing eliminates these fees for merchants, allowing businesses to retain 100% of their revenue.
With TapSimple, free credit card processing is achieved by shifting these fees to the customer. Through a cash discount program, TapSimple ensures that customers who pay with a card cover the processing fees by paying a slightly higher non-cash price. As a result, merchants get the full amount for every transaction, regardless of payment method, and avoid paying any processing fees themselves.
How Does TapSimple’s Cash Discount Program Work?
TapSimple’s cash discount program is simple and fully compliant with credit card regulations. Here’s how it works:
- Set the Cash Price – Businesses list their prices as the cash price, which is the base price for all goods and services. For example, if you sell a product for $100, this is the cash price.
- Calculate the Non-Cash Price – When a customer pays with a credit card, TapSimple automatically calculates the non-cash price, which includes the credit card processing fee. In this case, if the processing fee is 4%, the non-cash price would be $104.
- Customer Choice – The customer can choose whether to pay the cash price or the slightly higher non-cash price. If they pay with a card, they cover the processing fees, and if they pay with cash, they enjoy a discount (by paying the original cash price).
- Merchant Receives Full Payment – Regardless of whether the customer pays with cash or a card, the merchant receives the full cash price. If the customer pays with a card, the extra 4% covers the fees, so the merchant avoids processing charges.
Why TapSimple’s Free Credit Card Processing is Ideal for Small Businesses
Free credit card processing isn’t just about eliminating fees; it’s about giving businesses more control over their revenue. TapSimple’s cash discount program has a few distinct advantages, especially for small businesses operating on thin margins.
1. Retain 100% of Your Sales Revenue
The biggest benefit of TapSimple’s cash discount program is that businesses no longer have to lose a portion of their sales to credit card processing fees. By shifting these costs to the customer, you keep 100% of the cash price. Over time, this adds up to significant savings.
2. No Hidden Fees
TapSimple offers transparent pricing with no hidden fees. Businesses often get hit with unexpected charges for things like PCI compliance or statement fees, but with TapSimple, what you see is what you get. You won’t be caught off guard by surprise fees.
3. Compliant with Card Brand Rules
Cash discounting is different from surcharging, which can be illegal or heavily regulated in certain states. TapSimple ensures that your cash discount program is fully compliant with Visa, MasterCard, and other card brand rules. This allows businesses to avoid fines or penalties for improper payment structures.
4. Easy Setup and Support
TapSimple makes it easy to implement a cash discount program. The system is intuitive and automatically calculates both cash and non-cash prices, so your staff doesn’t have to manually adjust prices or worry about compliance issues. TapSimple’s customer support is also available to help businesses get set up and run smoothly.
Who Benefits the Most from Free Credit Card Processing?
All types of businesses can benefit from TapSimple’s free credit card processing solution, but certain industries may see even greater advantages:
- Small Businesses: Small businesses with tight margins, such as local shops or restaurants, can significantly increase profitability by eliminating processing fees.
- On-the-Go Workers: Service providers like plumbers, electricians, and HVAC technicians can collect payments on-site without worrying about transaction fees, making TapSimple a great choice for businesses with mobile workers.
- High-Volume Retailers: Stores and restaurants with a high volume of small transactions, such as fast food joints or convenience stores, can avoid losing money on fees by adopting TapSimple’s free credit card processing model.
Start Saving with Free Credit Card Processing
TapSimple offers an innovative, compliant, and easy-to-use solution that allows small businesses to eliminate credit card processing fees through a cash discount program. By passing these fees to customers who pay with credit cards, your business can keep more of its hard-earned revenue.
Don’t let credit card processing fees drain your profits. Start saving today by implementing TapSimple’s free credit card processing solution. Reach out to TapSimple for more information and get started on the path to increased profitability.
Ready to simplify your payment processing? Get started with Tap Simple today and experience fee-free transactions that keep your business moving. Sign up now!
