dartonviper
New Member
For all you that accept credit cards, I was just curious how much that increases your sells and how you go about setting this up. Any help would be great.
Jim
Jim
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Credit cards
- Thread starter dartonviper
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Jim
Your bank will have a VP in charge of merchant accounts. They can set you up.
I think the reader costs about 300 or rent it for 15.00 per mo. Then a percentage usually around 3.5% of your card sales.
I have a manual slider in the truck for the card imprint and customers sig. but I still have to get the approval at the office.
I have the customer sign a letter authorizing me to charge an amount not exceeding xxxx for each billing cycle. That way I have a signature on file and all they need to do is make a phone call okaying the actual charge. I DO NOT run the card without getting there verbal approval. The date and time of the verbal approval is put on the invoice they are paying. So far I have not had any problems doing it this way.
About 15% of our sales is on the cards. Normally its the customers that have been with us for a while that ask about the card use.
Hope this helps
Harlyn
Your bank will have a VP in charge of merchant accounts. They can set you up.
I think the reader costs about 300 or rent it for 15.00 per mo. Then a percentage usually around 3.5% of your card sales.
I have a manual slider in the truck for the card imprint and customers sig. but I still have to get the approval at the office.
I have the customer sign a letter authorizing me to charge an amount not exceeding xxxx for each billing cycle. That way I have a signature on file and all they need to do is make a phone call okaying the actual charge. I DO NOT run the card without getting there verbal approval. The date and time of the verbal approval is put on the invoice they are paying. So far I have not had any problems doing it this way.
About 15% of our sales is on the cards. Normally its the customers that have been with us for a while that ask about the card use.
Hope this helps
Harlyn
Mike Hughes
New Member
I do not accept credit cards, by choice, and I won't claim to know everything about it........but...........I believe at 3.5% you are getting ripped off!
I started excepting credit cards when a DOD contract went south about four and a half years ago. They went to paying by credit card. I just added the 3.5% on to the price. Instead of waiting 60 days for payment (even though I would typically give a 2 or 3 percent discount for prompt payment) I would have it my account within 3 days. Since the bulk of our business is kitchen exhaust cleaning I allow customers 30 days to pay. With the credit card payment I typically get paid within the week. I view the 3.5% cost as giving the customer a discount for prompt payment.
Yes...I do have that one customer that waits for 30 days before calling to pay. But.......
Harlyn
Yes...I do have that one customer that waits for 30 days before calling to pay. But.......
Harlyn
Mark
Moderator / Sponsor
Costco, and Sams Club both offer offer decent rates on Merchant Credit Card Services if you do not mind waiting a couple days for the money to post to your checking account.
We have our business checking and Merchant credit card accounts with Bank Of America, any Mastercard / Visa card trasaction run before 6;00 PM usually posts to our checking account around 12:01 Am on the next business day.
Rates run 2.35 to 3%.
There are plenty of different choices out there shop and compare, and by all means "READ THE FINE PRINT"
Good luck!
Here are more than 250 possibilities for you : (I do not endorse any of them check them out for yourself)
CREDIT CARD SERVICES FOR MERCHANTS
We have our business checking and Merchant credit card accounts with Bank Of America, any Mastercard / Visa card trasaction run before 6;00 PM usually posts to our checking account around 12:01 Am on the next business day.
Rates run 2.35 to 3%.
There are plenty of different choices out there shop and compare, and by all means "READ THE FINE PRINT"
Good luck!
Here are more than 250 possibilities for you : (I do not endorse any of them check them out for yourself)
CREDIT CARD SERVICES FOR MERCHANTS
Craig Knight
New Member
Credit card sales for us did not increase our sales dramatically, but it did improve them. Customers will buy more on credit than with check or cash. You will see more add-ons being accepted with credit cards. You will see a few customers accepting you over compeditors because you have the CC option. But don't think it will drastically improve your sales like the CC companies will tell you (40 to 70% increase).
We use pocket pc's to run the credit card. Pocket pc's also double for scheduling, synchronizing, contacts, etc. Using the pocket pc's you get instant authorization. You can also call over the phone and use touch tones to get authorization.
We pay 2.25% plus 30 cents per transaction.
We use pocket pc's to run the credit card. Pocket pc's also double for scheduling, synchronizing, contacts, etc. Using the pocket pc's you get instant authorization. You can also call over the phone and use touch tones to get authorization.
We pay 2.25% plus 30 cents per transaction.
Steven Rowlett
New Member
We use Discover/ Novus Network with IC Verify software. You can process without having to have a card scanner. just your computer. Your discount rate should be under 2%.for Discover, Novus, Master Card and VISA, under 3% for American Express. If you don't take a card this month there is no fee.
Steven Rowlett
ROWLETT PRESSURE
CLEANING SERVICE
www.rowlettpressure.com
Steven Rowlett
ROWLETT PRESSURE
CLEANING SERVICE
www.rowlettpressure.com
Steven Rowlett
New Member
Tony, I looked at Pay Pal but still think Novus is still the best all around. They will deposit it directly in your bank account within two days, three days for American Express. The software and setup runs around $350.00
Steven Rowlett
ROWLETT PRESSURE
CLEANING SERVICR
Steven Rowlett
ROWLETT PRESSURE
CLEANING SERVICR
Mike Hughes
New Member
Steven,
That rate of "under 2%"........is that even for a non-swipe transaction???
There was a post on Pay Pal several months ago.......do a search. What are the odds of finding a customer that is also a PayPal customer and willing to pay that way?
Mike
That rate of "under 2%"........is that even for a non-swipe transaction???
There was a post on Pay Pal several months ago.......do a search. What are the odds of finding a customer that is also a PayPal customer and willing to pay that way?
Mike
Steven Rowlett
New Member
Mike, Yes they charge a small fee for non swipe transactions. It might be $.50 or so. Even if it cost you $3.00 or so for the transaction it is much easy way. It will clear the bank faster than a check
Steven Rowlett
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Steven Rowlett
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Richard R.
New Member
Dartonviper,
I suppose my advise will be disputed by many other members, but I will give you my opinion anyway. It was the worst business decision I've ever made. If I was selling merchandise, such as chemicals and equipment, I would most definitely use this method, but for service like I provide, I rarely ever see a reason for paying a monthly charge of about $75.00 a month and an additional percentage everytime someone decideds to pay for my service by credit card.
I believe in my business, the credit card system was the biggest mistake I've made so far.
I did the credit card thing when I first got started and received one payment from a customer over a 3 or 4 month period of time. He was able to pay by check or cash but we decided to go the credit card route hoping it would help us to get used to working the machine. Keep this in mind. Almost everyone who has the ability to pay by a credit card has the same ability to pay you by check or cash.
Everytime I turned around, a credit card company or the system company was with drawing a fee from my account. Make sure if you decide to go this route, you read all of the small print. There is no backing out without additional money to the company. They will use whatever means they can to suck you in to their company. I don't know what they used to be like, but they called my house probably once or twice a day. Seemed like every time one would call, it would be a different company. Constant harrassment if you are a new business.
Please thing long and hard before you decide to go this route.
Hope you make the right decision for your business.
I sure didn't.
Richard R.
I suppose my advise will be disputed by many other members, but I will give you my opinion anyway. It was the worst business decision I've ever made. If I was selling merchandise, such as chemicals and equipment, I would most definitely use this method, but for service like I provide, I rarely ever see a reason for paying a monthly charge of about $75.00 a month and an additional percentage everytime someone decideds to pay for my service by credit card.
I believe in my business, the credit card system was the biggest mistake I've made so far.
I did the credit card thing when I first got started and received one payment from a customer over a 3 or 4 month period of time. He was able to pay by check or cash but we decided to go the credit card route hoping it would help us to get used to working the machine. Keep this in mind. Almost everyone who has the ability to pay by a credit card has the same ability to pay you by check or cash.
Everytime I turned around, a credit card company or the system company was with drawing a fee from my account. Make sure if you decide to go this route, you read all of the small print. There is no backing out without additional money to the company. They will use whatever means they can to suck you in to their company. I don't know what they used to be like, but they called my house probably once or twice a day. Seemed like every time one would call, it would be a different company. Constant harrassment if you are a new business.
Please thing long and hard before you decide to go this route.
Hope you make the right decision for your business.
I sure didn't.
Richard R.
Douglas Hicks
New Member
We are able to get an account if we offer credit cards. I am still not wanting to go to the hassle of credit cards, as 99 % of our business is with other businesses. But some governments prefer credit cards. Has anyone tried PayPal & had bad experiences?
Douglas Hicks
General Fire Equipment Co of Eastern Oregon, Inc
Douglas Hicks
General Fire Equipment Co of Eastern Oregon, Inc
Richard R.
New Member
Hey Doug
I've heard that the Pay Pal works just as well.
I don't know how to use it or I probably would use it before the credit cards. Unless you have a lot of people that pay with credit cards, it would not be to your benefit. I tryed the credit cards and everytime I turned around, they were charging my bank account with some unknown or hidden fee that I never remembered agreeing to. That is definitely something you want to read all the small print. I don't think I would ever get into the credit card scene ever again unless I sold products on a regular basis.
I would suggest you run a search on this site to see who has talked about the pay pal and see what they have said about it.
Actually I think you should go to the power wash board and open this up as a main topic for descussion.
Just click on the Start Thread button and type away. Don't forget to put in the title.
Best of Luck
Richard R.
I've heard that the Pay Pal works just as well.
I don't know how to use it or I probably would use it before the credit cards. Unless you have a lot of people that pay with credit cards, it would not be to your benefit. I tryed the credit cards and everytime I turned around, they were charging my bank account with some unknown or hidden fee that I never remembered agreeing to. That is definitely something you want to read all the small print. I don't think I would ever get into the credit card scene ever again unless I sold products on a regular basis.
I would suggest you run a search on this site to see who has talked about the pay pal and see what they have said about it.
Actually I think you should go to the power wash board and open this up as a main topic for descussion.
Just click on the Start Thread button and type away. Don't forget to put in the title.
Best of Luck
Richard R.
Walt Graner
New Member
Had it because State jobs like to use it, dropped because nobody else really did and State will pay by invoice.
I hate being nickled & dimed to death.
I hate being nickled & dimed to death.
Steven Rowlet
New Member
The phone number to setup a new account with Discover/Novus is 1-800-347-7996.
No CC here
I have a problem with credit cards and that is that it does nobody any good. The people, the seller, and the country. I tore up my cards, and even pay my supplies with good ole cold cash (Checks or auto check withdrawals) I am sure one can look at it as losing business by not accepting them, and i know we are all in business to make a good living but credit cards lead to nothing but problems in the long run. If you get a chance go to www.daveramsey.com and check this guy out. He is full of wisdom and doesn't accept credit cards.
I realize it makes for easier book keeping but is it worth it?
I say if you can't afford to pay now then don't buy until you can.
I have a problem with credit cards and that is that it does nobody any good. The people, the seller, and the country. I tore up my cards, and even pay my supplies with good ole cold cash (Checks or auto check withdrawals) I am sure one can look at it as losing business by not accepting them, and i know we are all in business to make a good living but credit cards lead to nothing but problems in the long run. If you get a chance go to www.daveramsey.com and check this guy out. He is full of wisdom and doesn't accept credit cards.
I realize it makes for easier book keeping but is it worth it?
I say if you can't afford to pay now then don't buy until you can.
Steven Rowlet
New Member
Deckman, Funny thing about Dave Ramsey he will tell you to use a check card but he will not accept them. Dave lives in Nashville and he has been on the air since the early 90's. He has a lot of good ideas. As an alternative we have software ordered that will allow us to print out a bank draft with information you supply us with over the phone or you can fax us a check. When this comes in I will post it on the board. My accountant ordered it for us. I think this will be a great service to our customers.
I use square when needed and love it.