Eliminate Credit Card Processing Fees
Switch to Parse Pay’s No-cost Processing Program and save thousands each month by nearly eliminating all credit card processing fees.
Let your customers pay the way they want without impacting your profit margins!
How It Works
Businesses lose a significant amount of their revenue when accepting credit card payments. Parse Pay’s No-cost Processing Program is a special type of program that allows businesses to enjoy the same profit margins for all items sold by passing the cost of acceptance back to the customers who pay with a credit card.
Instead of your business paying the processing fees, your customers are given a choice to pay with cash and save or incur the cost of acceptance themselves.
Benefits of No-cost Processing
Goodby hefty merchant processing fees
That’s correct, no more jaw-dropping processing statements. With the No-cost Processing Program, you don’t have to worry about any surprising line items and hidden fees.
Little to no up-front cost
Based on your monthly processing volume, the software and hardware terminals designed to work with our No-cost Processing Program are available to you at little to no cost.
Switching is easy
We provide you with everything you need to get up and running, including the signage that is required by law, free of charge. Also, our intuitive, cloud-based POS system is a breeze to set up.
Easy to understand and implement
The No-cost Processing Program is easy for employees and customers alike to understand. We use a patented software that automatically determines all discounts and actions based on payment type.
Accept all major credit card brands
We use a patented technology that is compliant with all the major credit card brand rules, so you can continue to accept all the same payment types as you currently do.
Improve your bottom line by saving
The average small-to-medium-sized business saves around a thousand dollars each month. Improve your net earnings and enjoy the same profit margins for all items sold, regardless of the payment method.
Switch Now to Save
Switching to our No-cost Processing Program is incredibly simple.
1. Submit your application
Applying for the No-cost Processing Program is easy. In addition to completing a simple form, we’ll need copies of your current processing statements.
2. Upgrade your POS
We offer elegant hardware options that can be offered to you at little to no cost, and our cloud-based software is designed to work with the No-cost Processing Program.
3. Post signage
We’ll provide you with the signage to post at your point of entry and the point of sale. This is required to be compliant with the card brand rules.
Frequently Asked Questions
How does the No-cost Processing Program work?
This cash discount processing program is a way for any merchant to dramatically reduce, or even nearly eliminate, their credit card processing fees. It works by having the merchant apply an adjustment amount to all non-cash transactions. But, as an incentive to pay with cash, the merchant then gives a discount to customers making cash payments. The customers that choose to utilize their credit card for the transaction will see the non-cash adjustment amount line added to their receipt. Conversely, customers who pay with cash will see a cash discount line item added to their receipt. Merchants that are using a cash discounting program, are required to post signs informing customers about the fee applied to all items, and also update their terminal application to add the appropriate fee to transactions.
Is it legal to charge a credit card fee?
Yes, our cash discounting program is legal in all 50 states. Due to the Dodd-Frank Act, card payment networks are prohibited from preventing a merchant from giving their customers a discount based on their payment method: “from inhibiting the ability of anyone to provide a discount for payment by cash, checks, debit cards, or credit cards.”
Does this mean that I’ll have fee-free credit card processing?
Just about! A vast majority of merchants using our program will see a drastic (95-100%) reduction in their monthly processing bill. A few merchants may still receive some smaller fees on their bills. These fees are due to variations in interchange prices. We will setup your merchant account billing on a daily discount structure. This means that your processing fees are taken out daily instead of all at once at the end of the month. Monthly statements will show your low total processing fees as well as the amount that is being deposited into your bank account. To cover participation in the program, you will also have a small subscription fee.
What’s the difference between a percentage fee and a flat per transaction fee?
The fee method is chosen based on your average transaction size. If your business has an average transaction size under $15, you will most likely be set up on a flat dollar amount, per transaction fee. If your business For those with a larger than $15 average ticket, a transaction fee of 3.99% works best. By using your average transaction size, we are able to cover as much of your processing costs as possible. The fee method is chosen based on your average transaction size. If your business has an average transaction size under $15, you will most likely be set up on a flat dollar amount, per transaction fee. If your business For those with a larger than $15 average ticket, a transaction fee of 3.99% works best. By using your average transaction size, we are able to cover as much of your processing costs as possible.
What current regulations exist?
Our cash discount program meets all major credit card brands, state and federal standard regulations. The transaction fee, whether it be a flat per transaction fee or a percentage fee, are applied to all products and payment types. This is required to be compliant with regulations. For standard, product pricing a small service fee (similar to automatic service gratuity at a restaurant) is added to all sales. This is true, no matter the payment type (checks, cash, credit cards, debit cards, etc.)
The Durbin Amendment states that merchants are free to offer a discount and to encourage customers to pay via methods that are not a card. If a customer does pay their transaction with cash, then the discount is automatically applied at the time of sale and will show as a new line on their receipt. Several new credit card industry rulings went into effect as of January 27, 2013. This was the result of a federal class action litigation settlement against Visa and MasterCard. The settlement required that these two large credit card companies allow merchants who accept their cards as payment “to offer discounts to customers who pay with payment forms less expensive than Bank Debit cards.”
Ready to Start Saving?
Contact us to learn more about making the switch. No credit card processing fees. No obligation. No reason not to!