What is ZERO FEE PROCESSING?
What is Zero Fee Processing?
Zero Fee Processing is a new evolution in merchant services. The term is is exactly what it states. Many merchant service companies try to mimic our program, but most fail. Although they tout that they offer Zero Fees, they still charge additional monthly fees. Our program does not. When dealing with a so-called zero fee processing program there are things you should ask to ensure you get true ZERO FEE PROCESSING.
Here are some questions you should ask:
- Are there any additionally monthly fees such as monthly statement fees, admin fees, pass-thru fees, access fees, PCI fees, and transaction fees?
- How are my fees reconciled to offset my processing fees?
- Can I see a sample merchant statement to verify this Zero Fee Processing program?
- Is there any sort of license or software fees?
- So I am completely paying nothing to process, correct?
To get a true zero fee program you need to be thorough when vetting these programs. With ReversePAY we try to be as transparent as possible. We’ll eliminate all those fees mentioned above. We pass-thru those processing fees as a non-cash discount fee at the point-of-sale to the customer. This is our Cash Discount Program.
This breakthrough program is setup by offering a discount for cash payments. Signage is posted throughout the establishment to notify consumers that the pricing posted is the cash discount price. If a consumer makes a payment by cash then they receive the posted discount pricing (3.5%-4% lower) they already see. If they decide to pay with a credit card then they will not receive the posted discount pricing, but instead pay the non-cash discount price. The non-cash discount difference of 3.5% to 4% is collected seamlessly through the payment terminal. That fee is collected to offset your merchant processing cost.
Disclaimer: There may be fees associated with processing equipment, virtual terminals, POS systems, or payment platform access. These fees vary according to the specific business type and setup. ReversePAY does not charge monthly fees. These are charged by third party vendors. We only offset the processing costs.