Best Cash Discount Program for Agents, ISOs, Resellers and Sales Partners
As a merchant services agent, you can offer a variety of solutions to your merchants that would bring you as well as the merchants some amazing benefits. An ISO cash discount program is one of the best examples of this.
Cash discounts have existed for a while. These programs have started receiving attention lately. These programs are developed to help merchants save and provide a discount to customers who choose to use this form of payment. Being an agent who looks forward to building lasting relations with merchants and set up a residual income from various merchant accounts, a cash discount agent program is your best bet. Read on to find out how.
Introducing Cash Discount ProgramA cash discount program is for merchants and customers. You must be familiar with the idea of a cash discount. All store owners offer a discount to customers who pay via cash. These store owners are able to avoid the credit card processing cost. The money that is saved is passed on to customers.
A cash discount program validates that cash is king. This program automatically offers a lower price to those who make cash payments. Processing cost are only applied to those who pay via credit card.
Merchants are also able to save money when they apply for a cash discount program. Your profit margin increases. Customers are also to pay a lower price for the products or services purchased. They are also to save money.
Some customers stick to credit cards because they don’t mind paying a transaction fee. This means that the merchant is covering the processing fee for the transaction. This makes it easier for you to achieve good margins on the goods purchased. You are not just saving money on the credit card processing fee but experiencing an increase in your profit margins.
The company offering you a cash discount program will also provide a free POS system to facilitate your business transactions. This will make it easier for accepting all kinds of payments. A cash discount credit card processing system is for both parties (the customer and the merchant).
Benefits of the Cash Discount ProgramAs long as you have chosen the Best Cash Discount Program, both merchants and agents will enjoy some great perks.
Benefits for MerchantsLet’s first look into the benefit of a cash discount program for merchants:
Reduced Processing FeeThe merchant usually has to pay a one-time flat rate for all the credit card processing.
Cash RewardsWhen you provide rewards to customers who pay through cash and check, you are encouraging them to shop at your store the next time they need anything. This could turn them into your recurring customers. And the customers who prefer paying via credit card will not leave you either. In other words, you will have a range of customers who like to pay through different payment methods.
Increased Cash FlowYour cash flow is going to increase since you will be receiving more customers who like to pay through cash. This will make it easier for you to pay bills.
Benefits for Agents
Steady Stream of IncomeAs more and more merchants sign up with the cash discount program you are an agent of, you will be making more money. Depending on how good your program is and how much bonus they give to their customers, a stream of passive income will set for you. Apart from the bonuses, you will have your residual income too.
The more merchants you sign up with your program, the more you are going to earn. If everything goes well, you could be making up to $100K per year. This is huge!
Lasting RelationshipAs long as you have a reliable cash discount program, and you have established a great relationship with your merchant, and offering them all the support they need, you are going to develop a great relationship.
It’s recommended to keep on nurturing this relationship because the wider your network expands, the more merchants you are likely to attract. Your existing clients might refer your services to other merchants as well. This could be the start of something great.
The Perks of Becoming a Cash Discount Program as an AgentThe perks of cash discount merchant processing are not just for merchants but also for agents who sell their programs. These benefits include commissions and other financial benefits.
The most prominent financial benefit for an agent is the reward receive after the sale. it is an upfront cash bonus of $500. This $500 bonus is not the only benefit, you will also receive residual income which will be multiplied 14 times the average residual. This will provide you a heavy stream of income once a deal is final.
Merchants selling the cash discount program will also be receiving a 50/50 split benefit on all the residual flowing for a lifetime. The value of this lifetime stream of passive income is a priceless thing. It all starts by building a portfolio of great merchant accounts. This will give a great boost to your income and provide you more financial freedom.
Final WordsYou might not consider this benefit at the outset of the sale but it’s one worthy benefit. When you are selling cash discount merchant services, you are building a relationship with a merchant that you are likely to cherish in the future.
A stronger bond can bring you more customers in the future. The cash discount program will offer a steady stream of healthy commission and many other benefits to your merchants. A merchant who knows they are going to receive quality products and services from their agent partner will be happy with this agreement. They will work with you in the future and do additional business with you. If this relationship lasts for you, you will have a steady stream of income set yourself for years to come.
What are you waiting for? Do some research, find the best cash discount agent program and sign up for it immediately. Then, come up with a plan to attract merchants to start earning.