True Cash Discount
A True Cash Discount is when a business offers a discount to customers who pay by cash, check or store-branded gift card, instead of with a credit or debit card..
With Dual Pricing, the merchant’s offers both a cash and a credit price. No fees are added to the transaction at the point of sale.
Surcharges are fees that are added to the cost of the purchase for the “privilege” of using a credit card. Business owners must follow additional steps to be in compliance with the card brands.
A convenience fee is a fee charged by a business for payments made through an alternative channel, rather than by cash, check, or ACH. Typical cases where convenience fees are charged include payments for mortgage payment, property taxes, utility payments and tuitions. The fee is typically a fixed amount or a percentage of the sale.