Toll-Free: 1-800-819-6044, International Phone: +82 704-732-6714 [email protected]

The Dodd-Frank Act, passed by Congress in 2010, included an amendment called the Durbin Amendment. The Durbin Amendment allows retailers to provide cash discounts for customers who choose cash as their payment option. While it might appear that this discount would prove detrimental to retailers trying to make a profit, encouraging customers to use cash as a payment option keeps merchants from having to pay credit and debit card fees. 

According to Tidal Commerce, cash discount programs “incentivize cash payments by offering a discount on the posted credit or debit card prices for customers that pay by cash or check. By including a service fee in the posted price, cash payments offset the payment processing charges that come with card transactions.”  

Access to Cash 

Businesses who choose to use a cash discount program in their shop can also help drive customers to choose cash payments by placing an ATM in their store. Easy access to cash encourages customers to take advantage of cash discounts, thereby saving the retailer unwanted credit card fees and also helping to earn them ATM fees at the same time. Placing an ATM in your place of business can also help drive customers to your store. It’s a win-win for customers and retailers alike.