When I’m talking with people from the lower 48, I often use a bear analogy to describe how Alaskan businesses depend on the summer. In spring, we gear up for a big summer, where we try to do as much business as we can; because in the winter times will be much leaner. It seems very similar to the bears we share the state with. At Skurla’s, we see this same cycle every year, and this year we’ve been busier than ever. Our new EdgeServ POS is doing amazingly well for us and our customers. More Alaskans have chosen us as their POS and payment processor provider this year than before the pandemic. Our solutions have enabled Alaskans to make it through the past two years, some customers have even told us they had their best years ever! So far, this year is shaping up to be bigger than others. But success doesn’t come without its challenges.
Ever wonder who is paying for all those miles you earn on your credit cards? The surprising answer, is merchants like you!
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!
