Frequently Asked Questions

JetX is pretty unique. Here are a few of the most frequently asked questions about it.

What is a Cash Discount?

A cash discount is a deduction allowed by the merchant for goods or service if the customer pays with cash.

Why did Card Issuers modify their rules for Cash Discounts?

This change was due to the result of a court approved settlement with merchants, the Durbin Agreement in the Dodd-Frank Wall Street Reform and Consumer Act from 2011. With this new law, Card Issuers agreed to modify their rules to permit U.S. merchants to discount goods and services for customers paying in cash.

Is it legal to offer a Cash Discount?

Yes! The Dodd-Frank law prohibits a payment card network such as Visa, “from inhibiting the ability of anyone to provide a discount for payment by cash, checks, deb-it cards, or credit cards.”

What are benefits of Cash Discount?

As a Merchant you will now be able to accept credit cards and not have to pay a multitude of fees that you never understand and grow consecutive to the number of sales you make. Each day you will get fully funded for 100% of your sales. Then, at the end of the month you will see your monthly fee(s) for being part of the Cash Discount Program.

How will customers know I am on the Cash Discount program?

Once you’re signed up as a cash discount merchant you will receive a POS terminal with a Welcome Kit, which will include signage explaining the program and the customer fee for using a credit card. The customer will know they can opt out of paying the fee by paying in cash. Your posted prices are your cash prices.

What are the disclosure requirements for merchants?

A merchant must prominently display a clear disclosure of the Merchant’s Cash Discount policy
at the point of sale. The disclosure must include a statement that products and services have been discounted when paying with cash. If paying by credit or debit card, a service fee will be displayed on the receipt.

Can I revert back to traditional processing?

No problem! If you feel the cash discount program does not work for your business we can easily switch you back to traditional credit card processing. We will even beat the rates you were paying previously!

Will my customers be upset by this fee?

If you let your customer know that the Cash Discount program is a way for you to keep providing your goods and services without increasing your prices every time credit card fees go up, most consumers will understand the need for the program. The ability to receive a discount by using cash as a payment will also help the transition to accepting this program!

Does the Cash Discount Program work for all types of Credit and Debit cards?

Yes, the program will work the same for Credit Card, Signature Debit Card and PIN Debit card.

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