Withdraw Cash Wednesday Applauds Payroc's Cash Discount Program

At Withdraw Cash Wednesday, we believe that cash is king and every transaction is a vote of confidence in cash. Research released by the American Banking Association identifies ATMs as America’s fourth most popular banking channel. This bodes well for the continued growth of ATM use. Many companies are contining to provide consumers easy access to cash nationwide. Here is just one example on how the entire ATM industry can work together to protect cash:

Payroc LLC, a leading merchant acquirer and payment processing organization, announced today it has launched card brand compliant RewardPay surcharge and CashRewards cash discount programs. The programs are designed to help merchants substantially reduce or eliminate card processing fees and to avoid costly fines and penalties associated with non-compliance. RewardPay or CashRewards, combined with Payroc’s differentiated processing capabilities, funds merchants the same day, depositing 100 percent of their card sales each and every day. Both programs are immediately available for merchant deployment through direct and sales partner channels on standalone payment acceptance terminals, as well as sophisticated point of sale system options.

“With a compliant credit surcharge program like RewardPay, merchants can substantially reduce overall card processing by 60 to 90 percent,” said Payroc’s Chief Revenue Officer, Ryan Hallett. “And with a compliant cash discount program like CashRewards, merchants can virtually eliminate all their card processing costs,” added Hallett. “In either case, passing processing costs on to consumers is a tough decision for any merchant to make. That’s why they need expert advice and support, and Payroc is pleased to serve as a leader in this role,” continued Hallett.

Read the full news release here.

The Withdraw Cash Wednesday campaign is designed to promote consumer cash usage by reminding consumers to withdraw cash from the ATM the Wednesday before the U.S. Thanksgiving holiday for their Christmas Black Friday shopping needs and every Wednesday for their weekend endeavors. Backed by ATMIA, the campaign is also designed to educate consumers about the benefits of cash such as using it as a budgeting tool, reducing debt and saving money by not having to pay credit card interest fees and saving time at the checkout.

You can learn more about WCW by visiting the website and cash blog.