How to Identify Merchants the Need a Cash App?

How to use a cash app without a card? Merchants ask us this question very often. Luckily, with modern-day technologies, we now help merchants collect payments from their customers without the need for a card or P2P money-transfer applications. The iCG Pay Mobile Payments App is specifically designed for merchants to help collect payments from their customers.

This blog will help ISOs identify merchants who may prefer using such an application.


Who Needs Such an Application?

All merchants do not need to adopt such applications to collect payments. So, we recommend ISOs not to propose this as an alternative solution in every conversation. However, this can be a game-changing application for specific merchants with super-particular requirements. Review a few use cases of merchants who would ideally benefit from using such an application to send and receive money.

Merchants that deal with a POS sale

Merchants that have a POS terminal easily accept card payments. However, they often come across customers who wish to purchase items without a card, called CardNot Present, or CNP. In these situations, the merchant has the following options:

  • Collect cash: Collecting cash is the safest and the most convenient option. It also makes the end-customer eligible for a cash discount. However, with the increasing digitization of payment methods, people rarely carry cash anymore. If the individual does not have cash, offer alternative payment methods.
  • Collect a check: You can collect a check and manually key in its details into a check verification software to ensure the availability of suitable funds. However, collecting, maintaining, and depositing checks creates significant hassle in itself. 
  • Get paid for the articles via a P2P application: You can use P2P applications like Apple Pay and Google Pay to collect payments via phone number. These applications offer a quick method to collect payments. However, the amount collected via this method often lands in your personal account (and not the merchant account). Accepting payments in your personal account may cause a problem  during the reconciliation process while you do your taxes.
  • Collect payment via a cash app: Lastly, the safest and most efficient way to collect payment is via a cash app. The cash app helps you collect payments via visa debit cards, credit cards, or ACH seamlessly through a mobile device connected to the internet. To use such an app, the customer need not have their card physically with them. If they have an account already with the business, they can safely process their transaction through a payment portal hosted by a third-party payment gateway. If this is a new customer, the mobile website will request to get those card or bank account details to properly run the transaction. Once the customer enters their debit/credit card details or bank account details, the application can debit the correct amount directly from their bank account.

Merchants who want to offer alternative payment methods

A cash application like the iCG Pay Mobile Payments App helps merchants collect payments in multiple ways. The merchant can collect payments for their services/products via online ACH and credit/debit cards. They possess the technology to use Remote Deposit Capture (RDC) as well with this kind of solution. The mobile application offers merchants the ability to take payment in the app on their internet-connected device when the customers come in the store or in service calls when in person. 

The business owner merchant gives alternative options when the customer is not present to still pay with alternative payment methods by logging into the integrated payment page from their phone, desktop, or other internet-connected devices.

Merchants who want to offer a Cash Discount Program (CDP)

Unfortunately, customers who choose to pay via credit cards often end up paying more due to the excessive processing costs charged by credit card companies. They miss out on a cash discount scheme if they are not carrying cash. However, merchants can now offer the cash discount to customers who wish to pay with online ACH via the application. So, now the end customers can still get a cash discount without actually using cash.

If you are an ISO onboarding a new merchant, look for merchants with one or more of these given requirements. If a merchant does mention any of these needs, they are likely a good fit for using a cash application utilizing mobile payment technology.


Want to learn about the most efficient ways of transferring money without giving hefty processing fees? Set up a consultation call with our team to schedule a call and adopt the most advanced payment processing gateway for your clients.


Date originally published: March 04, 2022


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