Save a significant amount of money by taking advantage of our free program! Our fee-free processing solution guarantees that our customers keep a larger portion of their profits – allowing you to allocate funds toward expanding your business. Avid provides: –
Card terminal that complies with surcharge regulations –The lowest credit card processing rates – Streamlined paperwork process – Flexible month-to-month agreements – Fast approval process – 24/7 customer support.
It cannot be denied that credit card transactions come with associated costs such as interchange fees, monthly fees, and chargeback fees. However, with zero-fee programs, these costs are shifted to the cardholder through surcharging. Customers are given the option to pay a slightly higher price when using a credit card (surcharge) or the original price when paying with cash.
Merchants can also opt for a cash discount program, where customers receive a discount for paying with cash while paying the regular price for card transactions. Although these two methods of zero-cost processing may seem similar, there are significant differences to consider.
Depending on whether a surcharge or cash discount program is used, fees for debit card payments may be waived. Cash discounts eliminate processing fees for debit transactions, while surcharges do not.
It is undeniable that credit card transactions incur costs such as interchange fees, monthly fees, and chargeback fees. However, with zero-fee programs, these costs are passed on to the cardholder through surcharging. Customers have the option to pay a slightly higher price when using a credit card (surcharge) or pay the original price with cash.
Merchants can also choose to implement a cash discount program, providing customers with a discount if they pay with cash while keeping the original price for card payments. Despite the similarities between these two zero-cost processing methods, there are significant differences to take into account.
Depending on whether a surcharge or cash discount program is utilized, fees for debit card transactions may be exempted. Cash discounts eliminate processing fees for debit payments, whereas surcharges do not.
By utilizing zero-cost credit card processing, the processing fees are covered by your customers, ultimately reducing your expenses.
Paying for merchant account expenses can expose your business to a variety of fees and costs, which can complicate the process of accurately pricing your products and services.
Nevertheless, this program ensures that you will have complete knowledge of the precise price you are receiving for each specific good or service.
Increasing the cost of credit card transactions can effectively dissuade customers from using this payment option, ultimately decreasing their vulnerability to credit card fees.
It is important to keep in mind a few drawbacks if you are considering a program with no costs.
To begin with, customers may not be pleased with having to pay an additional amount to use their credit cards. Since most businesses in the United States now accept credit card payments, passing on the fees to customers can be viewed as a competitive disadvantage. If you operate in a competitive market, passing on these fees might lead customers to seek alternatives. People have become accustomed to the benefits offered by credit card rewards.
Furthermore, each state has its own regulations regarding zero-fee credit card transactions, surcharges, and similar fees. Therefore, it is crucial to familiarize yourself with the laws of your state before proceeding.
One of the key difficulties in implementing zero-cost processing is ensuring compliance with the relevant laws. Certain states, like Texas, have restrictions that prohibit this payment method. Nevertheless, many states across the nation permit different types of surcharging, as long as the guidelines are adhered to.
If surcharging is not allowed in your state, you can opt for a cash discount program to still take advantage of zero-cost credit card processing. It is important to research online to familiarize yourself with your state’s processing regulations and to stay informed about permissible practices. Your merchant account provider can assist you in remaining compliant with local laws.
Avid is committed to supporting businesses of all kinds. We collaborate with various industries to offer complimentary credit card processing and other payment acceptance services. In contrast to numerous free credit card processors, we also cater to high-risk merchants. This sets us apart as an ideal option for enterprises that are unable to work with other merchant account providers due to industry regulations. We have established partnerships with numerous high-risk industries to provide free credit card processing services.
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