Introducing Arryved’s Dual Pricing Program: Save On Payment Processing Fees

Learn how you can offset your credit & debit card processing fees with our latest feature!

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Here at Arryved, we pride ourselves on building tools that help food and beverage merchants cut costs and maximize revenue. Our latest and greatest solution does just that: Introducing Arryved’s Dual Pricing Program!

What Is Dual Pricing?

We know that whenever a credit or debit card is swiped, someone is paying a processing fee to that particular card’s issuer. Typically, businesses simply eat that processing fee—it’s usually only cents, after all. But those cents sure add up fast, which is why it’s becoming popular to recover those fees as a small business with dual pricing.

Larger businesses lead the charge discounting cash payments: Gas stations have been doing it for decades, and corporations like Hilton and Starbucks are coming on board. Nowadays, over 30,000 merchants are adopting dual pricing programs. 

Dual Pricing means you have two prices. The price the guest pays depends on their choice of payment method—cash or credit/debit card. The program allows food and beverage businesses to completely recover payment processing fees for both credit and debit card transactions.

Here’s how it works:

  1. Menus list everything in card prices, including sales tax. These card prices are adjusted at your discretion, ultimately covering costs associated with card transactions. 
  2. At close out, guests are given the option to pay with cash or card, knowing* the benefits of cash payments.
  3. If a guest pays with card, they pay the standard prices listed on the menu.
  4. If a guest pays with cash, Arryved automatically applies the discounted rate.

Now, this is not to be confused with surcharging. That’s when a percentage of the tab is added to the total at checkout for card payments. Surcharging is actually problematic because it’s often applied to debit transactions (which violates Visa and Mastercard rules and federal regulations), it’s not legal in every state, and it results in a bad guest experience as they’re often surprised by the additional hidden fee. 

Dual pricing, on the other hand, is legal in all 50 states and is a superior guest experience tool

Business Benefits Of Dual Pricing

The most obvious benefit of dual pricing is that your business saves payment processing costs, ultimately boosting your bottom line. 

Dual pricing also gives your guests a choice in how they pay. If they’d like to pay the discounted rates, they pay with cash. If they’d like to pay with a card, they pay the standard price for that convenience. 

Remember, guests get a lot of benefits from their credit card providers: miles, points, cashback, etc. It’s fair to implement a program where they pay a small fee for using those cards, as opposed to your business eating those fees for every plastic-wielding payer. 

How Arryved’s Dual Pricing Program Maintains Guest Transparency & Your Control

Full Guest Transparency

Menus will reflect standard prices, so there’s no unwelcome surprise for card transactions at checkout. In fact, guests paying with cash will instead be delighted at checkout to get a discounted rate. 

With Arryved, non-cash and cash totals are on all tabs and bills. Here’s an example of what a receipt would look like: 

As you can see, it’s obvious to guests what their options and totals for payment are. 

Merchants Maintain Control Without Additional Labor Required

Of course, Arryved’s program has your business’s success in mind. Use dual pricing to your advantage without adding work to any staff’s plate with these handy features:

  • Limit cash discounts to specific product categories at your discretion
  • Arryved Service automatically adjusts prices for cash payments 
  • Updated reports account for dual prices for inventory items
  • Daily discount processing deducts processing fees from each day’s settlement deposit, so there is no large bill to pay at the end of the month

Would you like to see this and other snazzy Arryved features in action?