Grocery POS News

Understanding Daily Discounting

May 27, 2020 1:24:56 PM / by Lynn Skurla Perkins

One of our processing partners, Clearent, offers insights to the differences between the Daily Discount and the Monthly discount for credit card fees and why it might be useful during this economy:

The Power of Daily Discount

Credit card processors typically offer two billing options, Daily Discount and Monthly Discount. The difference between the two is the timing of when the fees are deducted from the merchant’s account.

The impact of COVID-19 on our economy has led many small business owners and consumers to take a closer look at their expenses and work harder to stick to a budget.

Track your budget with Daily DiscountingAnd,.as COVID-19 continues to impact our economy, Daily Discounting can be used as a helpful budgeting tool.

Daily Discount is when fees are deducted from the merchant’s daily sales volume – a little bit at a time. With Monthly Discount, the merchant receives the gross deposit from their sales and their credit card processor deducts all fees at once.

By having fees deducted from each batch, instead of all at once, the merchant doesn’t have to worry about a large lump sum being deducted at one time. It’s about convenience, and can be especially helpful as sales volumes fluctuate during these challenging times.

If you have questions on daily discounts or any other processing questions, such as cash discounting or surcharging, please give us a call at 907-243-2683.  Or click on the link below for a free consultation.  

Get a Free Consult to Help Your Business Now!

 

Tags: Accepting Credit Card Payments, Credit Cards, daily discounting

Lynn Skurla Perkins

Written by Lynn Skurla Perkins

Lynn grew up in the point of sale and cash register industry working in the family business – and is now at the helm of Skurla's POS Solutions. She enjoys working with local Alaskan businesses, especially restaurants, grocery stores, and retail operations - helping them control costs and increase revenues through well managed point of sale solutions. Besides running the company, Lynn has also served on the Board of Directors, and as Chairman of the Board, for the Retail Solutions Provider Association. In her spare time, she loves cooking, camping and volunteering with organizations that are passionate about helping children.

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