New Payment Processing Program Saves Merchants Up to 95 Percent

On Jun 18, 2018

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With the ever-increasing cost of running a business in New Jersey, business owners often seek ways to reduce operating expenses including with their payment processing company. For some businesses, not accepting cards is not an option. Consumers are using less cash and credit and debit card usage is on the rise.

Last month, Red Bank, New Jersey based payments company Priority Payments Local launched a program to drastically lower merchants’ card processing fees. That program — Net Zero Processing Fees ™—  saves merchants up to 95 percent on their processing. No more cutting those fees by a small percentage – the program virtually gets rid of them all together. The only cost merchants are required to pay associated with card processing is a terminal fee on terminals they don’t own which start at $49 a month for select terminals.

“How the program works is simple,” says Angelo Mendola, Priority Payment’s Chief Operating Officer.

“The program rewards customers who pay with cash. The fees are covered by a non-cash adjustment when customers use any form of payment other than cash, which is displayed clearly at the bottom of their receipt.”

Mendola goes on to explainthat everything merchants sell is already discounted to the “cash price.”

“When a customer pays by card they pay the retail cost. The program is announced with the complementary signage we provide at signup,” he says.

The concept of this program has been around for decades – most commonly used by gas stations – and is where Mendola says the future of payment processing is heading. There is one caveat: only select businesses qualify. Click here to contact us to see if you qualify.

Disclaimer: Sponsored content articles do not reflect the opinions of New Jersey Business magazine or the New Jersey Business & Industry Association.