When your merchant clients win, so does your financial institution. That’s why it’s important to equip the businesses you assist with technology that will ensure their profitability for years to come. One of these tools is Celero Choice, our cash discount program which transfers a portion of the credit and debit card processing fees from the business owner to the consumer. Let’s discuss this program and the multitude of perks available to our merchants.
Simple, Legal, and Effective
Over the years, a growing number of consumers have made the decision to trade out cash for their debit or credit cards. According to a report from 2021, around 71 percent of people opt to utilize a bank card to make purchases in stores. While the convenience for the consumer is undeniable, this increase in card payments has put a heavy strain on businesses across the country. Many merchants are saddled with monthly payment processing bills which total in the multiple hundreds or even thousands of dollars. These significant costs can significantly impact a company’s profitability and as a result, this hurts your financial institution. Fortunately, Choice will help your clients offset these costs by adding a non-cash service fee to all purchases made via debit or credit card.
The way it works is when your client goes to ring up a purchase, their customer will be given the choice to pay their balance using a card, or accept a discount in exchange for paying with cash. For non-cash purchases, a small service fee will be added to the purchase cost. This simple, legal, and highly effective solution transfers a portion of the processing fees along to the consumer, which spares your client from incurring the whole cost. While Choice is a game-changer for all sizes and types of businesses, it’s especially useful for merchants who sell small-ticket items, such as fast-food restaurants, gas stations, and coffee shops. Plus, customers love it because it gives them a straightforward opportunity to save money on every single one of their purchases.
Equip Your Merchants With Choice
Businesses that utilize Choice can save up to 90 percent on their monthly processing fees, which is great for both their bottom-line and yours. To save your clients time and effort, our team will handle the equipment set-up, signage, and employee training. If you’re ready to learn more about Choice and how it will help you and your clients succeed, contact us to schedule a demonstration!