Reilly's Irish Pub is a fun and festive locals bar with great drinks and special performances of live music and Irish dancing. Even after the past year of COVID, Reilly's is coming back strong and still the place to be. With a cheery St. Patrick's Day theme, March is their busiest time of the year.
Finding ways to save money in your business can be a real challenge.
One of the methods Skurla’s has in it’s toolbox is surcharging or non-cash adjustment (NCA for short). It is a simple way of passing on (or sharing) the costs of credit card processing to customers who don’t want to pay cash. Our point of sale system can automatically add a fee of up to 3.99% to all card based transactions. The end result is that a majority of your credit card fees are eliminated or drastically reduced.
Well then, you ask, how much can surcharging/NCA save me?
The answer: Take your current monthly credit card fees - multiply that by 12. That’s your yearly savings! 🤣
But seriously, while NCA can’t always remove ALL of your fees, it can reduce the majority of them. Even more if you are a business that doesn’t take tips. Couple that with a free or heavily subsidized, feature rich POS, and you may just be laughing all the way to bank.
There are all sorts of credit card gimmicks these days. Are they legit? Do they save your business money? How hard is compliance?
Offering your customers a discount for paying with cash or check is nothing new.
Neither is adjusting how much a customer pays if they use a payment type that results in higher processing costs for the business owner. While these concepts have been around for quite some time, they have recently been brought back into the spotlight, especially for businesses hard hit during COVID.
Today, we are here to talk about one of the easiest ways to save money on your credit card fees - through the Non-Cash Adjustment (NCA) Program:
With a Non-Cash Adjustment, your list prices have a built-in cash discount incentive. Customers who pay with credit and signature debit cards do not receive the discount and will see a Non-Cash Adjustment on their receipt.
On average, businesses can save $9,500 a year simply by sharing their processing costs with their customers.
But make sure use a trusted partner when implementing this programs - you want to make sure you are staying compliant with the program!