Updated: Jul 9, 2018
While cash discount programs are not especially new (they've been around in Europe for decades), they are now becoming the hottest thing to hit small business practices in the United States, with the advent of programs like Omega's Limitless Processing.
Made easier by the use of patented technology, The software automatically issues the posted cash discount to the customer's ticket when they pay by cash or store gift card, based on a service charge that is applied to every sale.
According to the Small Business Association (SBA), about 20 percent of small businesses fail within the first two years and about 50 percent suffer the same demise in the first five. While there are a number of factors leading to these statistics, a recent Insurance Quotes infographic, posted by Entrepreneur.com, showed that 29 percent of businesses fail because "they run out of cash." Unfortunately, new business owners often underestimate the cost of doing business; credit card processing fees notwithstanding.