CREDIT CARDS

DaveGateway

Anybody out there accepting credit cards? I would like to offer it to my customers ,when I looked into it online I got inundated by different companys offers , need some input. What should I be looking for low rates,low transaction fees,[dont even know what I'm asking] own or lease the equipment? What & who is everybody using? I would like to accept visa/MC & swipe the card right on the call. Thanks

Firedragon_4

Shop around, it's very competitive!

One problem will be portability on-the-job. That normally requires an expensive POS wireless machine or a Bluetooth model. Some companies will also lease you a unit that works with a conventional cell-phone.

Lease, don't buy, this stuff is expensive, FACT!

I've been using a fixed terminal for orders for several years no, but may give it up in favor of PayPal, it's just cheaper and less hassles.

Mike T., Swampeast MO

Discover (still part of Sears?) used to offer decent rates and equipment to small accounts but their prices have been going up.

The way that fees are assessed is almost bewildering. High $ but low number of transaction accounts (like furniture) seem to get the best rates--low $ & low-to-medium number of transaction accounts (like mine) tend to pay the highest rates. If you don't physically swipe the card you usually pay more.

Keep VERY GOOD TRACK of EVERYTHING. Just because a transaction is "approved" and even accepted into your "batch" does not mean that you have received your money! Disputes are highly geared to the benefit of the processing company and banks--not you! If the card owner claims any form of fraudulent use of the card or "problems" with the goods/services and you don't have EXQUISITE records--YOU LOOSE! Unscrupulous people will wait quite a while before claiming a problem in hopes that you discard the records.

John@Reliable_9

Rich, check with your local...............

bank. We use a service thru our bank. All we do is call a number that is really a computer and punch in our acc.# the customers acc.# and the amount, with-in 15 seconds we get approve # and that amount is deposited into our account with-in 24 hours. Nothing to buy as you can use your cell phone or real phone at customer location if in a bad cell area. This will cost you 3 to 5% of total but we find it works good, as most will pay by check. If you were to process 2 or 3 aday then I would look into a system but for afew a month this is cheap. John@Reliable

Mad Dog

We take the major cards

The fees are high...and you aren't "allowed" to charge "more" for the percentage fees. We only let people use them if the sale is over $650.00. Mad Dog

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DaveGateway

cards

Very interesting, on the applications they ask about 'volume' I have no way of projecting this , who knows how many people will use a credit card ,I find it only comes up once in a while , it probably wont be alot of money (a few hundred on an emergany call) on the average .I like the phone idea at the local bank maybe I'll look into that ,that equipment is bucks I'm a one man operation doing service in my own area by the time I get through there 'set up costs' it'll take many calls before it pays .I was actually thinking of the smaller jobs but the way it sounds it might not pay. I dont want to be sitting on a credit card machine thats not getting used . Thanks all

Ken_8

Just remember this.

Whatever they charge - comes directly out of your pocket!

Oh sure. It is an expense like anything else. But how does one know until the bill is generated - how the customer will pay? Add it to all work?

We don't - and won't take them.

If I make 20% I'm not willing to give up 1 - 2 % to some bank!

1-2% out of 20 is 5 to 10% out of my pocket. Don't even go there.

Please

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[Deleted User]

Local Bank

I got ours through local bank. The machine that just imprints the card is $35.00. They charge me $3.00 per month and 3% per transaction. You do need to follow up and see if it is deposited, Once in a while it misses, but it is just a phone call to the bank to see if it cleared, usually 24 hrs or less. I just dial up, and input all the numbers throgh the phone. I figure the 3% is worth it, if I figure the time spent trying to take care of bad checks, and those that won't pay. It is really good for after hours calls, you get the card number before you leave the house and process the service call, and then process anything above that on site. We think we have made money with ours. Emergencies don't always happen when people have money.

Mad Dog

Yes, and when I first signed up,

it was about 8 months till I had a cc sale. I put it thru and they rejected it! - inactivity! They had to review it to see if they would renew me! It was a $600.00 sale and I was screwed. I was "lucky" they renewed me. After that, I actually have to "push" the cc sales from time to time. If I don't do sale for 2 months I will run one of my own cards thru for a $50 sale or something just to keep it active. Mad Dog

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Geo_2

credit cards

http://www.nexswipe.com/Frames_home.htm

Had it for about a year now and love it, finding people prefer paying w/ credit or there debit card, fee's are under 2%, you will need a nextel phone. Look into it, you'll love it.

Rocky

Rich, in the words of Nike, just do it.

Have been taking credit cards for about three years. People love the flexibility it gives them. Several customers like using the card because they get air miles, or reward points or whatever. We bought reconditioned electronic units through our local bank. They work like new for about 1/3 the cost. My fees are 1.5%. I find it truly insignificant compared to the cost of perhaps not collecting at all. If I can get the customer to pay right there, I am willing to give up 1.5% to get the money then. I don't even carry the card machine with me. Its at the office. I get the cc #, exp. date and name and write it on the invoice I hand the customer. I then either call it into the office where they punch in the numbers by hand, or, wait till I get back to the office and punch it in myself. That way, I have their cc # on file as many want us to just keep it handy for future work. You will find that as your customers find out you take cc's, it will soon become the payment method of choice. Also, it lets Mastercard or Visa be the bank, not you. Probably 30% of my customers now pay by cc. Try it, you'll like it.
Regards,
Rocky

DaveGateway

cards

I looked into the local bank method (also where my business account is) someone will call me ,it seems they're gonna require me to have equipment. The nextel one ,I like. will look at that next. Mad dogs story I DO NOT LIKE if you swipe the card just to keep it active your paying % & transaction fee on a job that didn't take place [losing money on that]I could see that happening to me! the whole idea for me is to try to use this as a marketing tool.Good thread.

Paul Pollets

CC's

Have always accepted MC/Visa and pay a 2.2% fee to B of A. Many customers want air miles and it's not uncommon to place entire projects, not just repairs or service, on a card. We're talking $30-50K, which is not chump change. For the past 2 years we charge a 2% fee for card usage and always ask the customer how they will pay before we do the project or repair. The amount is processed immediately, while the tech is on the phone with the office, so any "not accepted" cards are identified. After hrs., the tech calls for authorization. Too important not to have the ability for people to charge. Swiping is not required on the jobsite. Handwritten charge forms are acceptable.

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Murph'_5

RRRRRRRRRRRRRich

Right on the money, this is a marketing tool !! I had signed up over a year ago and pay through the nose. But once it hit the yellow book people are expecting it when service is done. kinda gives folks a safety feeling for when they have knoe idea what it is gonna cost to get service. (I will let you know when I am done)(G). With what matt had said they charge us twenty bucks a month whether we charge or not, our minimum has not gotten that far as to go over the charge @ 2% would be a thousand dollars in one month. never had to put any large repairs on one yet, mostly used for out of town building owners>



Murph'

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adambuild

COSTCO

I noticed that Costco had a machine for sale/lease. I must confess that I didn't check pricing/rates, but probbly will now. They are probably worth a look. Good luck.