Cash discounting and selling tricks? With the EDGE cash discounting program, paying for an item with cash will be relatively unchanged. Customers will see the advertised price of the item, go to the register, hand the cashier their cash, and purchase their item. No additional fee or surcharge will be placed upon the consumer. The merchant won’t have any processing fees for this transaction and the customer will also be able to escape without paying any fees.
There’s an incredible amount of emotion that goes into B2C sales. Consider small businesses selling their product for the first time, or the first time someone buys a car. There is so much riding on that one transaction because it’s based more on emotion. B2B sales can be rather cut and dry—strategic and rational. There is a strategy in place to ensure the sale happens, and again, there’s multiple stakeholders on each side to help move the buying process along.
How Merchants Benefit from the Cash Discount Program? It may seem strange to advertise that you offer discounts for cash buyers, but it has its benefits: You’ll reduce your fees. The fewer credit cards you process, the less you fees you pay. You’ll have access to your funds faster. With more incentive to pay cash, more customers will do so, giving you instant access to your revenue. Fewer credit card purchases means a lower risk of chargebacks. Read extra info on Cash Discounting Program.
Lead with value: When reaching out to your network and potential buyers, don’t lead with a capabilities pitch. Instead, lead with an offer of something valuable. Offer to evaluate their current portfolio and make suggestions. Offer to share research you or your company recently conducted. Offer to share best practices in asset allocation you’ve discovered from your work with others in similar situations. Whatever your offer, make sure it adds value to the buyer in the initial meeting itself. Do this and you’ll generate far more conversations.
The other activities you are involved with can offer discounts as well. You may be surprised to learn so many cost-savings options are available to you at the activities you are planning to do. United Airlines: United offers discounted prices for flights for seniors over 65. Seniors need to select the Over 65 category when purchasing tickets online or with a customer service agent. Discounts vary depending on the flight and location. Delta: Senior discounts are available for limited itineraries with Delta Air Lines. However, you must call 1-800-221-1212 to find out if your flight is eligible for the discounted fare. You will not be able to purchase your tickets online and receive the senior discount. Jetblue: Does not offer senior discounts due to the already discounted ticket prices for all ages. The airline does state it supports the military including retired military veterans, so you can contact 1-800-538-2583 (JETBLUE) to request information about possible discounts. Greyhound: Seniors over 62 can receive 5 percent off of Greyhound bus tickets. You do need to provide a photo ID for eligibility.
Let’s Make Things Easier With an Example: A store sells baseball gloves at the price of $10 each. There’s a signage on the door that says, ‘We have a discount on cash payment while all credit card payments will be made on full price”. Now, if the payment is made via credit card, you will charge $10.5, which the customer will assume is the actual non-discounted cost of the gloves. Now let’s put this example in our previous 7 Eleven kind of store scenario. Here, we will have a 4% surcharge on credit card payment instead of $0.50 from the example because we are allowed to have a 4% charge max. So if the baseball gloves seller is doing $10k a month in credit card payments, we will tell him that instead of paying a $300 fee from your pocket, you put a 4% fee on credit card payments. See additional details on here.
