Dual Pricing: What You Need to Know
You may have noticed that whenever a price is shown to the customer in our system, they are shown a cash price and a card price. This is known as dual pricing, and it is a common practice in many industries, especially the tattoo, piercing, and related spaces.
What is Dual Pricing?
Dual pricing is a pricing strategy where two different prices are listed for the same product or service, depending on the method of payment. The card price is the price for transactions made with a credit or debit card, while the cash price is for transactions made with physical currency or digital payment.
This practice is most commonly seen in industries such as retail, hospitality, and transportation. For example, a clothing store may have a shirt listed for $22, and if you pay with a card, the price will be $22. However if you pay with cash or digital payment, your price will be $20. This means that if you pay with cash or digital payment, you will save $2 on your purchase.
Compliance with Dual Pricing Laws
Fortunately, the Keep The Fees team has a deep background in payment processing. Our system has been reviewed and approved by dual pricing compliance experts who work directly with the major card companies to ensure all transactions follow both the law and the major card brand guidelines.
Best Practices for Dual Pricing Compliance
When we present a card price and a cash price to the customer, the card price should reflect your advertised price so the cash price appears as a discount.
Contact our support team if you have any questions about Dual Pricing Compliance