Accepting Credit Cards

[Maureen]

Hi guys

we're new to the forum but not new to the business. I appreciate the replies I've had on my other posts elsewhere so I thought I'd post this to maybe help someone else out.

It's a pretty undisputed fact that accepting credit cards will increase your sales if you are at a craft fair or other venue where people are browsing around and maybe impulse shopping. It's usually been a pain in the rear to get a merchant account and process cards for a small time seller though.

There is a new player in town called Square. They are a credit card processor whose goal is to get everyone able to accept credit cards - even Joe-Schmoe at his garage sale. You do need a smart phone (iPhone or Android) or an iPod touch or iPad and internet access in order to use their service. The very best thing about it though is that it is FREE to sign up, their device is FREE and there are NO monthly charges. The only charge is a 2.75% fee on each swipe. Receipts get emailed or text messaged to the customer and include your location and a picture of their purchase if you choose to take one.

I have a traditional merchant account and a wireless swiper. I have to pay $14/month for wireless access + $10/month minimum fees + $185/year for PCI compliance fees as well as the percentages (which are less than 2.75% but not by a whole lot). I have started transitioning to Square and eventually will drop my other account. One great thing about Square is that now I can accept American Express which I never could before.

I don't get anything by telling y'all this. I'm just tickled with the service and want to share. My customers think it is cool to sign on my phone.

This is their website for more information

[Menolly]

Hi guys

we're new to the forum but not new to the business. I appreciate the replies I've had on my other posts elsewhere so I thought I'd post this to maybe help someone else out.

It's a pretty undisputed fact that accepting credit cards will increase your sales if you are at a craft fair or other venue where people are browsing around and maybe impulse shopping. It's usually been a pain in the rear to get a merchant account and process cards for a small time seller though.

There is a new player in town called Square. They are a credit card processor whose goal is to get everyone able to accept credit cards - even Joe-Schmoe at his garage sale. You do need a smart phone (iPhone or Android) or an iPod touch or iPad and internet access in order to use their service. The very best thing about it though is that it is FREE to sign up, their device is FREE and there are NO monthly charges. The only charge is a 2.75% fee on each swipe. Receipts get emailed or text messaged to the customer and include your location and a picture of their purchase if you choose to take one.

I have a traditional merchant account and a wireless swiper. I have to pay $14/month for wireless access + $10/month minimum fees + $185/year for PCI compliance fees as well as the percentages (which are less than 2.75% but not by a whole lot). I have started transitioning to Square and eventually will drop my other account. One great thing about Square is that now I can accept American Express which I never could before.

I don't get anything by telling y'all this. I'm just tickled with the service and want to share. My customers think it is cool to sign on my phone.

This is their website for more information

I looked at the website. That IS pretty cool. Thanks so much for sharing the info

[dirtclod]

I guess i'm still liveing in the stone age. How much does a I phone cost and how much is their service any ideal ? I do have a pre paid cell phone but never talk on it. The cell phone i have is for just incase i break down or something like that. Heck i don't even talk on my home phone unless i need to order something.

Last year i was selling in Florida and it would of been nice to have something like Square because i had some folks ask about useing a credit card and i couldn't take one.

[Pounder]

Hi guys

we're new to the forum but not new to the business. I appreciate the replies I've had on my other posts elsewhere so I thought I'd post this to maybe help someone else out.

It's a pretty undisputed fact that accepting credit cards will increase your sales if you are at a craft fair or other venue where people are browsing around and maybe impulse shopping. It's usually been a pain in the rear to get a merchant account and process cards for a small time seller though.

There is a new player in town called Square. They are a credit card processor whose goal is to get everyone able to accept credit cards - even Joe-Schmoe at his garage sale. You do need a smart phone (iPhone or Android) or an iPod touch or iPad and internet access in order to use their service. The very best thing about it though is that it is FREE to sign up, their device is FREE and there are NO monthly charges. The only charge is a 2.75% fee on each swipe. Receipts get emailed or text messaged to the customer and include your location and a picture of their purchase if you choose to take one.

I have a traditional merchant account and a wireless swiper. I have to pay $14/month for wireless access + $10/month minimum fees + $185/year for PCI compliance fees as well as the percentages (which are less than 2.75% but not by a whole lot). I have started transitioning to Square and eventually will drop my other account. One great thing about Square is that now I can accept American Express which I never could before.

I don't get anything by telling y'all this. I'm just tickled with the service and want to share. My customers think it is cool to sign on my phone.

This is their website for more information

Thanks for the information, I am beginning my leather business and have been looking for something like this, could not have come at a better time.

[Johanna]

I'm trying to set up an account with my bank to accept credit and debit cards, and so far they've done everything but demand DNA from my first-born. Thanks for the link- I'm interested, too.

Johanna

[CitizenKate]

Looks like it just works when the credit card is present at the point-of-sale. I wonder if they allow you to take CC payments over the phone?

Kate

[MHolzer]

I actually just got my Square card reader in the mail yesterday!

Yes, you can accept credit cards over the phone w/ square, but the fee goes up to 3.5% + $.015, which is still fairly reasonable.

I'm excited to start using it at our first show at the end of the month

[MHolzer]

I guess i'm still liveing in the stone age. How much does a I phone cost and how much is their service any ideal ? I do have a pre paid cell phone but never talk on it. The cell phone i have is for just incase i break down or something like that. Heck i don't even talk on my home phone unless i need to order something.

Last year i was selling in Florida and it would of been nice to have something like Square because i had some folks ask about useing a credit card and i couldn't take one.

iPhone or Android -based smart phones aren't cheap, at least $100 or so. Throw on top of that a required data plan at about $30/month. So if you don't already have a smart phone and wouldn't have a need for it outside of accepting credit cards it's probably not worth it.

Also, Intuit has a similar service but I don't much about it. Go Payment

Edited April 7, 2011 by MHolzer

[MHolzer]

One other gotcha with Square is that if you exceed $1000 in sales in a 7-day period, the remainder won't be deposited into your account (by default) for 30 days. This can be changed by talking with their customer support, but I figure for many people it's not a huge issue.

[dirtclod]

I tired the bank route to. But when they wanted to charge me 500.00 for the machine ( and that i could only use theirs a bunch of crap ) that i could buy for alot less i took them i wasn't intrested.

Intuit is Homestead web site company one owns the other.

Thanks for the information on the phone and plan MHolzer. Good thing is you can take it off your taxes.

[Mijo]

we got our square reader last week and it's pretty sweet. the only draw back is that after you run a card through then the customer is suppose to scribble their signature on your iphone with their finger. having strangers touch a device that comes into close contact with your face is kinda gross. The app also puts together a spreadsheet of your transactions for the day and a little map indicating where the sale was made.

we were using another app before we got square were you had to manually type in the credit card information into your iphone. there was a monthly charge and they also took a percentage of your sales.

[Maureen]

we got our square reader last week and it's pretty sweet. the only draw back is that after you run a card through then the customer is suppose to scribble their signature on your iphone with their finger. having strangers touch a device that comes into close contact with your face is kinda gross. The app also puts together a spreadsheet of your transactions for the day and a little map indicating where the sale was made.

we were using another app before we got square were you had to manually type in the credit card information into your iphone. there was a monthly charge and they also took a percentage of your sales.

I picked up a stylus from Amazon.com and I use that for people to sign with.

Before I had my first show this season I contacted them and asked for my limit to be raised and they deposited the entire $1275 from the weekend in without holding any. When I first used it last October I did have some money held but it's reasonable that you have to prove yourself with them first.

If you don't want to get a smart phone the iPod Touch works as long as you have wifi access. There is no monthly fees on an iPod Touch but they will cost you about $250 to get one. You can use it for many more things than just Square though. Some of the apps in the app store are fantastic.

[bkingery]

I just signed up for mine and I did quite a bit of research on it. The only reason they have the hold for over 1000.00 is so crrug dealers won't use it to sell drugs on the corner. You can get them to raise it if you send them a copy of your credentials

[steve hansl]

I got a totally cellular debit and credit card machine through Moneris a month ago and I wish I had gotten a machine alot sooner,this one you can take anywhere.They increase your cash flow,my sales are deposited daily.Being in shoe repair it is nice to be paid up front,it doesn't matter then if people do not pick up their stuff.Over the years I have sent a lot of things to the local charities.

[dirtclod]

I checked on the I phone route useing Squre and it is just going to cost to much for me right at a $100.00 a month. A person would have to have a lot of credit card sales to make it worth wild if they don't already have a I phone or Android phone. The 39.00 plan is a bait and switch IMO. Because you have to pay extra for internet and extra for text to be able to take credit cards. But i am a person that doesn't talk on the phone unless i have to. So i am hopeing they will get around to getting Square set up where it can be used on a prepaid phone, if they do i'll get one then.

[MHolzer]

I checked on the I phone route useing Squre and it is just going to cost to much for me right at a $100.00 a month. A person would have to have a lot of credit card sales to make it worth wild if they don't already have a I phone or Android phone. The 39.00 plan is a bait and switch IMO. Because you have to pay extra for internet and extra for text to be able to take credit cards. But i am a person that doesn't talk on the phone unless i have to. So i am hopeing they will get around to getting Square set up where it can be used on a prepaid phone, if they do i'll get one then.

Yeah, I figured from what you had said before that Square wouldn't work for you. I believe Intuit has a "virtual terminal" that you can use on a regular computer that has internet access. If you're accepting cards somewhere that has wifi, that might be an option for you too.

Edited April 12, 2011 by MHolzer

[wildrose]

I'm thoroughly pleased with ProPay. I recommend them without reservation.

[dirtclod]

Wild Rose i went and read about pro pay but i couldn't find if they charge a percent plus the 20.00 a year fee. Do they ?

John

[azrider]

What is Propay?

[dirtclod]

https://epay.propay.com/

[wildrose]

They do charge a percentage fee per transaction, and there is an annual fee - which is more than 20.00. I don't have my receipt handy...

But for me, where I don't really process alot of charge throughout the year, but rather at 1-2 large festivals and sometimes small events, it's worth it. Why should I pay 30.00 or so/month when there are months I don't process ANY charges?

http://propay.com/

That's the link.

[dirtclod]

The link i posted says 100.00 for the machine and 20.00 a year. But yours says 50.00 a year. Either they nickle and dime ya to death on ever thing else. I may call and see what they tell me then.

I agree a 100% on the 30.00 a month charge and they want or you have to buy the machine from them or they won't process the cards. Or that's what they have told me in the past.

[wildrose]

Let me clarify:

I pay less than 100/year for my propay acct. I think the "intro" fee is cheaper, like most places - they want to hook you with a low intro price. I can process as much as I personally need in that time (I have a "basic" account) Other fees are:

Credit Card

Visa: 3.50 % + $0.35

MasterCard: 3.50 % + $0.35

Discover: 3.50 % + $0.35

ProPay to ProPay Per Transaction Fee : Free

ACH Out (transfer funds to bank account on file) Per Transaction Fee : $0.35

ACH In (add funds) Per Transaction Fee : Free

These may seem high, but it works for me because I'm not processing cards with a huge regularity. Example, on a 25.00 sale, I make 23+change by the time I transfer the money from ProPay to my account. I price my stock accordingly.

When I'm at an event, and someone hands me a card, I do a handwritten receipt. When I get home, I process the charges from that event all in one shot over the website. I could get a "reader", but again, it's not yet worth it.

[dirtclod]

How do you put the amount in ? Do you have to wait till you get home to put the amount of what you sold on to their card ? Sorry if you all ready explained that. I'm kinda slow this morning..LOL.

[Mijo]

I picked up a stylus from Amazon.com and I use that for people to sign with.

Before I had my first show this season I contacted them and asked for my limit to be raised and they deposited the entire $1275 from the weekend in without holding any. When I first used it last October I did have some money held but it's reasonable that you have to prove yourself with them first.

If you don't want to get a smart phone the iPod Touch works as long as you have wifi access. There is no monthly fees on an iPod Touch but they will cost you about $250 to get one. You can use it for many more things than just Square though. Some of the apps in the app store are fantastic.

Thanks for the tip, I picked up a stylus last week. Much bettter than having customers finger your iphone...