Accepting credit cards is practically a must for businesses nowadays, but not all businesses are similar, so why should all businesses accept credit cards the same way? It goes without saying that it’s impractical—if not impossible—to bring a large PoS system with you wherever you go. If you’re a business that changes locations frequently, or if it would benefit your team and customers to have a credit card reader brought to them, a mobile credit card reader might be the way to go.

If you run a business, you’re always on the hunt for ways to maximize your profits. One way to do so, of course, is to reduce business expenses—a task easier said than done. Some costs, such as those for supplies, employee wages and utilities, are simply unavoidable. Another necessity for most businesses is credit card processing, which enables customers to pay in the most convenient way possible. This doesn’t mean there aren't ways of reducing these associated costs, however.

Cash discounts can make a great addition to a business’s credit processing services. These programs, such as MPX’s No Cost Processing, can yield a number of direct and indirect benefits for your business, making them an attractive option for many merchants. Still, as with any other business decision, whether or not to introduce a cash discount program should be carefully considered.

Whether you're a business owner or not, it's likely you've come across a cash discount program at one point or another. They’re very common at gas stations, and you’ve probably also encountered them at many other small businesses. Given their popularity, it’s natural to wonder if it might be beneficial to introduce a cash discount program for your business. Before making that decision, though, it’s important to understand the benefits of adding a cash discount program to your current credit card processing system.

Below are three major benefits of a cash discount program:

In order for your business to accept credit card and debit card payments, you'll need to open a merchant account. Once you've decided which merchant services provider you'd like to open an account with, you'll begin the application process. During this process, you will most likely be asked to provide your Social Security Number and home address. 

Sharing this information fulfills a legally mandated requirement meant to protect against illicit financial activities and will be required by most major banks or credit card processors that you file an application with.

As anyone who runs a business knows, whenever a customer swipes a credit card, the business is charged a fee to process that payment. In an increasingly cashless world, this means more and more would-be revenue going toward these fees every year, leading many merchants to wonder if they should be passing on that expense to their customers by charging a credit card processing fee, called a surcharge.

But is charging a credit card processing fee legal?

Originally published February 6, 2017. Republished July 30, 2018.

Every month, a slew of charges appear on your merchant statement, the bill you receive from your credit card processor which details the fees you were charged for credit card payments your business accepted. From authorization and transaction fees to chargeback and batch fees, you have a lot to keep track of. For example, you are likely paying a PCI compliance fee. Not sure what that is? We're here to explain it!

If you run a small business, then you’ve probably considered accepting credit card payments from your customers. With people carrying less and less cash every year, card payments are often more convenient for patrons, and can actually help grow your business. But how do you get a credit card machine?