Forum
Join the Audit Advantage forum, for discussions on credit card processing audits, cost reduction, PCI compliance, and cybersecurity strategies.
Notifications
Clear all
Topic starter
08/08/2023 9:40 pm
PROS
- Cash discount is legal in all states
- Encourages customers to pay with cash
- Eliminates credit card processing fees
- Minimizes chargebacks
- Customers perceive the discount as an incentive and not a penalty
CONS
- May require you to raise prices
- Customers that pay with cards usually spend more
- May alienate or upset customers that prefer to pay with a card
- Increased liability by holding larger amounts of cash on site
- Regular trips to the bank to make cash deposits
