What is cash discounting?
Cash Discounting is a method for retailers to add a Service Fee to all sales, with the option of waiving it for cash payments.
There are a few important things to know about Retail POS's Cash Discounting feature.
- Cash Discounting is only available through our US Reseller program or through Lightspeed Payments.
- This feature is available on Web only.
Setting up cash discounting
You must inquire with your payments reseller to enable this feature. This feature is exclusively available on Retail POS for Mac or PC.
Once Cash Discounting has been enabled for your store to use, you can now set this up, follow the steps below:
- First off, you'll need to navigate to Setup -> Outlets and Registers.
- On this page, you will need to access your outlet settings. Click on Edit Outlet.
- Once you have accessed the outlet settings, you will see the 'Cash Discounting' options.
- Ensure that Cash discounting is ticked to activate the cash discounting feature. The Card processor rate will need to be entered as a percentage value.
The number entered in the screenshot below is an example of a card processor rate. The rate will actually be determined by an agreed fee between you and your payments reseller.
- Once you have entered the rate you would like to apply for card processing, you can click Save and cash discounting will now be enabled when using the sell screen.
Using cash discounting
Please ensure that your register is open in order to use the sell screen and cash discounting.
After setting up cash discounting, the processing rate or fee will automatically be applied on a card-based transaction. The fee will be waived if your customer uses cash or a non-card based transaction.
The payment type for a non-card based transaction must be set up as a Cash payment type and not Other Payment Type for the fee to be waived. Payment types using Other Payment Type will have the fee applied. Refer to our Non-Integrated (manual) Payment Type Setup for further information.
- Firstly, navigate to Sell and add the products for your customer's purchase.
- Once the customer is ready to check out click Pay.
The first sign of cash discounting being applied to the sale is the Service Fee being attached to it.
- A notification will appear on the right side displaying the cash discount amount as well as the retailprice of the item including the service fee.
Cash discounting at the pay screen
Transactions with cash discounting
You can use this option to waive the Service fee by informing the customer that the Service fee can be excluded by avoiding to make payment using either Cash, Gift Cards, Loyalty, Store Credit, and Bank Transfers.
Transactions without cash discounting
You can use this option by informing the customer that the Service fee will be included in the sale when using either Debit or Credit Cards. If you have an integrated payment type, the service fee should appear on your credit card terminal, if it's non-integrate you will need to manually enter the price including the service fee.