For merchants that accept credit and debit cards for payments, card network interchange fees are a fact of life. Historically, there has been no effective way for merchants to influence customers to opt for less expensive payment forms. However, with TranCentives™, now there is a way. TranCentives™ is a patented, incentive-based, tender type steering and interchange optimization platform that enables billers to provide their customers with incentives to choose cards with lower interchange costs.
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HOW TRANCENTIVES™ WORKS
Through real-time integration at the point of purchase, TranCentives™ calculates the total cost of an individual
transaction and offers the customer incentives to switch to a lower cost payment method. The incentives are defined by the merchant and can range from discounts and coupons to loyalty points and complimentary products and services. For recurring payments and repeat customers, switching payment types to lower costs payment methods can optimize interchange costs and result in dramatic savings for the merchant.
SUPPORT FOR MULTIPLE INDUSTRIES
The TranCentives™ API was designed specifically with merchants and acquirers/processors in mind. It can be integrated rapidly into checkout, payment, and recurring billing processes. The benefits of TranCentives™ are applicable to businesses across multiple industries, such as merchants with recurring payment transactions and retailers with high-ticket product sales.