Hi there, we have some coin operated laundry units and from time to time we have clients wanting $1 coins but only have a debit card to pay. This is easy if they have a $10 bill, then i just open the cash drawer and take the $10 and give them 10 loonies. Done! But how do i take their $10 on a debit card and give them $10 cash back when there is no actual transaction? TIA,
I think technically that is against the Square Terms of Service. As in, you shouldn't give cash back on a card transaction, it's just one of many ways fraud happens. There's a similar thread on this topic from a few years ago that also points out you would be losing money on that deal because you have to pay the vendor fees when you accept the card.
You could see about selling tokens for the laundry units, then it is an actual purchase and would be legit. You'd still lose a bit on the transaction fees, but probably make it back on the occasional lost or unused tokens so it would balance out 🙂
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