Point of Sale Resource for Businesses in Alaska

Understanding Daily Discounting

May 27, 2020 1:22:20 PM / by Lynn Skurla Perkins posted in Accepting Credit Card Payments, Credit Cards, daily discounting

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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.

And,.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.

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Warning - You May Not Be Able to Accept Credit Cards Next Month!

May 24, 2018 8:03:24 AM / by Lynn Skurla Perkins posted in Accepting Credit Card Payments, Credit Cards, TLS

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In reference to last month's article about the TLS issue, we just want to remind everyone again that if you have not updated your point of sale system, most likely your integrated credit cards* will stop working in June.  While the official deadline is June 30th, many gateways are proactively switching over before then.

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