2 min read

Is Cash Discounting Right For Your Business?

By Celero Commerce on Mar 31, 2022 11:53:26 AM

If you’re curious whether or not offering a cash discount is the right move for your business, you’ve come to the right place. Let’s discuss what types of businesses benefit most from Celero Choice, our cash discount program designed for small and mid-sized businesses, as well as the perks for both businesses and customers. 

How Celero Choice Works 

With this incredible program, your customer will be given the option to either pay their balance using a credit or debit card, or pay in cash and receive a discount. Any non-cash purchases will have a small service charge added to the total cost. While cash discount programs are available across the world, our system features the proprietary step of informing consumers of their total cost including the cash discount, as well as their total cost with the non-cash surcharge added. This step helps consumers to see the incredible benefits of switching to cash as a payment method. Once you decide to implement this program, our team will handle the initial set-up, marketing signage, and employee training. 

Types of Businesses That Benefit the Most 

While any type of business, regardless of size, industry, or type, can benefit from Celero Choice, the ones that experience the most significant benefits are ones that have frequent small-ticket sales. This includes a variety of consumer-facing businesses, such as coffee shops, quick-service restaurants, gas stations, locksmiths, movie theaters, and bakeries. Since they’re frequently making sales of just a few dollars at a time, these types of businesses often experience high payment processing costs compared to their total revenue. Offering a cash discount can help to reduce their business expenses and improve their bottom line. 

Perks for Businesses 

By implementing Celero Choice, businesses can transfer a significant portion of their processing costs along to their customers. In fact, it can help your organization save up to 90 percent on your monthly processing costs. With the ever-increasing cost of processing digital payments, implementing a cash discount program can be an absolute life saver for business owners. In addition, Celero Choice doesn’t require you to register with major credit card brands and can be used with credit, debit, PIN, and swiped transactions. It can be pre-programmed with cash discount amounts, report daily deposits, and generate monthly statements showing the processing volumes by payment methods. 

Benefits for Consumers 

Celero Choice isn’t just good for business owners: customers love it, too! Consumers love finding new ways to save money and giving them a simple, easy opportunity to reduce the cost of their transaction is a great way to forge customer loyalty. Customers want incentives and businesses want to reduce their payment processing expenses, so it’s a win-win. A majority of customers are interested in saving money by switching their payment method to cash, especially when it comes to larger purchases, and they’ll appreciate this streamlined option of receiving a discount. Due to how easy it is to take advantage of this program, many businesses report seeing a boost in repeat purchases from customers and increased customer loyalty.

Contact Us 

Curious whether or not you should implement Celero Choice at your business? Reach out today and let’s talk! We’ll discuss your needs and if a cash discount program is right for you. 

Celero Commerce

Written by Celero Commerce