Zen Like Moments Happen with ZenCharge
Here is why -
Keep 100% of Your Sales
ZenCharge lets you keep all of your profits by eliminating your credit and debit card processing fees by passing the fees onto the customer. A Non-Cash Charge is automatically implemented in each transaction made using a credit or debit card. The Non-Cash charge covers interchange costs, authorization costs, credit transaction costs, and merchant support.
Accept Card Payments Anywhere
As a ZenCharge merchant you have access to a suite of the newest POS systems and terminals that will allow you to take payments anywhere on-the-go, making your job and your customer’s life much easier. Being able to accept payments at any given time opens your business up to a new world of opportunities and profitability.
Reward Cash Paying Customers
ZenCharge does not only eliminate your business’s card fees with our Non-Cash Charge, but it also encourages your customers to pay with cash helping you further avoid card fees and putting cash straight into your pocket. ZenCharge gives your business the unique ability to reward cash paying customers by giving them a lower price
Is it legal to offer a Cash Discount?As Mitchell Katz, spokesman for the Federal Trade Commission, said in May of 2011: The Dodd-Frank law prohibits a payment card network such as Visa “from inhibiting the ability of anyone to provide a discount for payment by cash, checks, debit cards, or credit cards,” said Katz. “Neither surcharging, nor a cash discount is illegal.”
Why would I want to implement the ZenCharge Program?Other than the ability to virtually eliminate your monthly processing fees, the ZenCharge Program can really help those businesses that are most impacted by high processing costs. Consider small ticket merchants like a sandwich or coffee shop. You may have an average transaction size of only $5-8 dollars (sometimes even less). The underlying Interchange cost on a debit card used as a credit card is .05% plus $.22 per transaction before any processor fees. If you accept a debit card on a $5 transaction, your effective rate (fees divided into the sale amount) will be $.2225 divided into $5 or 4.45% before paying any additional fees! Compare that to a business that has a $100 dollar average transaction where their total costs are $.27 so their effective rate is now only 0.027%. The same credit card was used for each transaction, but the overall impact to profit is radically different. Using the ZenCharge Program can mean the difference between a business that is profitable and one that is just squeaking by (or sadly, not squeaking by…)
Is the Cash Discount Program suitable for all businesses?The Cash Discount Program is most ideal for businesses with low ticket sales, since you are passing your merchant processing fees to your customer. If your business doesn’t fall into this category, we invite you to explore our standard merchant processing offerings.
Is this some kind of new program?No, in fact it’s been around for decades in Europe and is used across the US in gas stations where a cash discount is offered at the pump. Gas stations have been using this program in the US for over 15 years. Many national, state and local governments including the DMV, Secretary of State, Post Offices, Schools, Courts, and the IRS implement a Service Fee.
Won’t my customers be upset by this fee and want to go elsewhere?While nobody wants to pay additional fees, more and more consumers are starting to realize just how expensive it’s been for merchants to accept credit cards. By charging a 4% fee on a sales transaction, that’s a small price for customers to pay for the goods and services you provide. And (if paying that fee or Implementing the Cash Discount Program) allows you to stay in business and keep your overall costs lower, it’s a small price to pay. In fact, surveys have shown that over 80% of respondents stated they wouldn’t think twice about paying that amount (only $1.00 on a $25.00 transaction) for the convenience of using their credit card rather than carrying cash. And we all know that fewer and fewer of us are carrying cash these days…and everyone loves the rewards associated with their credit cards. Additionally, we’ve all become accustomed to paying $2-4 when we use an ATM and this cash discount fee is actually cheaper than the ATM fee for most transactions. If you explain that the Cash Discount program is a way for you to keep providing quality goods and services without increasing your overall prices, most consumers have indicated they understand and are fine with it. And again, a 4% fee on an individual transaction generally has a very small impact to the consumer, but for you, the merchant, your savings are significant.
Will the ZenCharge Program totally eliminate my monthly card processing fees?Simply put YES, ZenCharge is designed to exactly do that!
Why does RoxStar Payments offer a ZenCharge Cash Discount Program?Since our inception, ZenCharge has been an advocate acting in the best interest of our merchants, savings our clients millions of dollars each year. The Cash Discount offering creates a path to save our clients even more money each month. With the addition of this program, we have multiple options for our clients to choose from – you choose the savings plan that best suits your business. Ask us about Hybrid options if you’d like to cover some of the costs while charging your clients some but not all of the fees.