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In 2017, I was approached by a friend of mine with a unique business opportunity. On the face of it, the concept was pretty simple. The merchant would incentivize their customers to use cash by offering their products or services at a discount. If the customer chose to pay with a card, they would incur a small fee. This small fee, labeled as the non-cash adjustment, simply covers the increasingly high cost of credit cards which is waived when you pay with cash. This seemed so simple and quite logical to a guy coming off 20 years in the financial world. I mean I had heard it all my life, “we don’t take American Express because their fees are too high.” I was staring at the solution, so why weren’t their merchants jumping all over this?!

As I researched, I was confused to find that this practice was at one time illegal. My confusion resided in the fact that our government had been surcharging for years, yet it was illegal for a merchant to offer a discount to his patron if they chose to use cash. Furthermore, the card brands used to have written in their contacts that a merchant couldn’t steer a customer away from their card to cash. To be honest, it didn’t really shock me. In so many ways this country is great at pushing for innovation, and conversely, when large sums of money are at stake, the status quo seems to want to stay the same. The payment industry is in the status quo. There is no money being spent on R&D.

 

Put Revenue Back In Your Pocket

Think about it, in 40 years of payment technology, what really has changed? You first rolled a carbon piece of paper over a card. Then you swiped, and now you dip. Throw in a hand full of mobile transactions, and in three short sentences, you have summed up the technological advancements inside the payment industry. What certainly has remained in stasis is the money flow. All the money goes to the card brands and/or issuing banks, or your occasion lobbyist to keep the law where you want it. In their mind, “if it ain’t broke, don’t fix it.” For them, it isn’t broken. Bottom line, I saw an opportunity to bring what I see as a fairness back to the market, to upset the status quo, and hopefully bring about some needed change.

With this, Intuitive Card Processing was born. Obviously, we do not offer traditional processing. We are here to put hard earned revenues back into the pocket of the people that earned it. Let’s really be honest here…does it make sense to take money from your merchant in the form of a cash back program simply because you had enough talent to push a plastic card into a machine? This is a great life lesson to teach our children, “Dad, let me pay with credit. I get to take a percentage of this merchants’ money, and when I buy enough coffee they will give me a free one.” Maybe it is time we rethink what we are teaching our children.

ReCAPTURE Is a Risk Free Solution. Why Wouldn't You Give It A Shot?

ReCAPTURE What Is Rightfully Yours

High-rate rewards cards are costing merchants a fortune. Start saving by virtually eliminating those fees and rewarding your cash paying customers.