FAQ
Frequently Asked Questions:
1. How does it work?
Shark Pay’s Cash Discount Program helps businesses offset the cost of credit card processing by including those fees in the pricing shown to customers. When customers choose to pay with cash, they receive a lower price than those paying with cards. This approach allows business owners to maintain consistent profit margins, regardless of the payment method, by offering a built-in discount to cash-paying customers.
2. Is it legal to pass credit card fees to customers?
Yes! Cash discounting is fully legal in all 50 states and is becoming more common as businesses look for ways to reduce processing fees. Thanks to the Durbin Amendment (part of the Financial Reform Act), merchants are allowed to offer a discount to customers who choose non-credit card payment methods—encouraging cash and debit transactions.
When you join Shark Pay’s Cash Discount Program, we’ll supply you with all the required signage for your storefront and checkout area, letting your customers know your business offers discounted pricing for cash payments.
3. How does it affect my customers?
Studies show that it hardly does. More than 99% of the time, customers don’t raise any concerns at checkout, and their buying behavior remains unchanged. Most customers appreciate the transparency and understand the option to save by paying with cash. With Shark Pay, you can offer this program confidently—without worrying about negative reactions or lost sales.
4. Why should I consider the Cash Discount Program?
In many parts of the U.S., cash discounting has already become the go-to way for businesses to accept payments. With rising costs and tight margins, business owners are looking for smart ways to cut expenses without raising prices—and customers are eager to support local businesses trying to stay competitive. Shark Pay’s Cash Discount Program helps you do both: keep 100% of your hard-earned revenue while offering fair, transparent pricing your customers will appreciate.