Reduce your credit card fees to basically $0, without having to raise prices
Works in 49 States
Mynt’s patented cash discounting is compliant with all card brand rules and legal in 49 states
No Changes to Checkout
All discounting is automatically done by the POS software, without any change to your checkout process
Take All Payment Types
Accept all payment forms including EMV cards, Apple Pay, and Android Pay
How Cash Discounting Works
Cash discounting is done by adding a small fee to every sale, then when a customer chooses to pay with cash, the system automatically applies the cash discount. Simple signage and clearly printed receipts make sure everyone knows what is being charged.
Because the service fee is added to every sale, when a customer chooses to pay with cash, they get rewarded with a discount instead of feeling like they are being penalized for paying with a credit card.
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What is Mynt Cash Discounting?
Mynt Cash Discounting is a legally patented cash discount program provided exclusively by DTI that has been fully integrated to the Mynt POS software. With Mynt Cash Discounting, merchants can greatly reduce their credit card processing fees by applying a small service fee to every transaction.
What is a cash discount?
A “cash discount” occurs when a merchant decreases the price for cash purchases. Cash discount programs do not discriminate one card brand over another, or debit versus credit. Cash Discounts reward customers for paying by a particular tender and/or for not using a particular means of payment. Cash discount programs have been in the past, but only to higher education, municipals, gas stations and utility providers, only recently have federal regulations changed so that independent business owners can use the same programs.
What is the difference between a cash discount and a surcharge?
A “surcharge” occurs when the price is increased for credit or debit card purchases. A “cash discount” occurs when a merchant decreases the price posted for their goods and services for selected payment types. No surcharges or fees are allowed on debit card transactions.
How does Mynt Cash Discounting work?
First, a small customer service fee is added to all transactions. A discount is offered when payment is made in cash or other forms of payment.
What benefits can Mynt Cash Discounting provide?
With Mynt Cash Discounting, merchants can greatly reduce their payment processing fees with virtually no impact on current sales or processes. Mynt Cash Discounting is the only legally compliant and patented automatic cash discount program available in the United States and is available for all credit card types, including app based payments like Apple Pay and Android Pay.
What type of businesses use Mynt Cash Discounting?
Mynt Cash Discounting is perfect solution for a variety of businesses including retail, quick service restaurants and fine dining establishments.