Overview

In this article, we'll go over some important information about Dual Pricing and provide some talking points to share with your cashiers to help answer common questions you may get from staff and customers.

TABLE OF CONTENTS

• Overview
• Signage
• Credit Card Fees in Dual Pricing vs Non-Dual Pricing
  • With Dual Pricing
  • Without Dual Pricing
• Dual Pricing - Rounding Properties

Signage

To implement dual pricing in your liquor store while avoiding any issues, establish specific cash and credit card prices for your products. Ensure that these prices are prominently displayed, so customers can easily see their options. Additionally, provide training for your staff to handle transactions efficiently under both pricing structures.

• First, the attached PDF guide contains two signs on one page, the top half is required to be displayed at the entrance to the store. The bottom half may be displayed at the register area. Having the signage in place helps you improve the shopping experience in your store while optimizing your business's financial performance.
  
  A PDF file of the signs can be found at the end of this article.
  
  
• Second, replace your shelf tags with tags that have both the Cash and Card prices. After setting up Dual Pricing in Cloud Retailer for your store, there will be a new label template installed in your back office to allow for the printing of shelf tags with both the Cash and Card prices. The QR code on the label is the product code. Updating your shelf tags is required.
  

Credit Card Fees in Dual Pricing vs Non-Dual Pricing

FAQ: Why is dual pricing deposited differently? Credit card processing fees are collected by you from the customer during the transaction, so the processor takes the processing fee you already collected from your deposit. Traditionally, the processor collects the fees from you on a monthly basis rather than on a batch by batch basis.

With Dual Pricing

The fee comes out BEFORE it is deposited into the account. 

Example:

Let's say you sold $1000 worth of inventory using credit cards. With dual pricing, you would collect $1035 (1000*1.035) total. Once your processor receives the money, they will remove the fees that you have collected, (generally ~3.5%), and you will end up with a ~$1000 deposit. 

• Deposited amount: ~$1000.00
• Amount after fees are collected: ~$1000.00

But since we cannot know the exact fees that your processor will charge you, it may also be useful to check your payments hub account (link here: https://www.paymentshub.com/). If you do not know your login information, you can contact your processor or us to assist in getting your email and resetting your password.

Once logged in:

1. On the left side of the screen, click in the deposits tab (piggy bank icon).
2. On the top right side, make desired changes to date range (generally, deposits occur within a few business days after your credit card terminals have been batched).
3. On the top right, click export. This will create a csv file that you can open in excel. This spreadsheet contains the amount batched on the terminal, the processing fees, and the resulting deposited amount.

For more information on reconciling the amounts in Cloud Retailer and your deposit, click here for an article on Reconciling North Deposit Amounts in Cloud Retailer.

Without Dual Pricing

The fee comes out once a month, usually around the 1st of the month.

Example:

Let's say you sold $1000 worth of inventory using credit card. The processor will receive this money and deposit into your account. Now, on the first of the month, they will collect their ~3.5% charge, and you will end up with ~$965.00

• Deposited amount: $1000.00
• Amount after fees are collected:  ~$965.00

Dual Pricing - Rounding Properties

Dual Pricing - Frequently Asked Questions for Cashiers