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recommendations on how to accept credit cards?

Discussion in 'Off Topic Threads' started by skeet_man, Jun 29, 2009.

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  1. skeet_man

    skeet_man Well-Known Member

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    Hello All- I've had numerous inquiries lately from customers wishing to pay via debit or credit card. I currently accept them through paypal, but that requires my customer to go through extra steps to pay if they don't already have a paypal account.

    Paypal is currently charging me 2.9% + 30 cents for every transaction.

    Can anyone recommend a company that I can get an account with to accept payments? I would like to stay as close to the current fee range as possible...
     
  2. Guy

    Guy Member

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    You can buy the equipment on ebay....then go to your bank and get set up. They will help you program the equipment....and you're good to go. Check their prices on the equipment also.

    Rates are based on volume and average ticket amount.
     
  3. ljsbaldwin

    ljsbaldwin TS Member

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    Some banks offer the credit card machine on a lease. Rates on cc processing usually run about 2% of sales. If you have the option for debit card sales, then that is usually a flat rate of .40 per transaction.
     
  4. DENNISMASTROLIA1

    DENNISMASTROLIA1 Active Member

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    You can access through Costco clubs.They have very low rates for all cards including AmEx.Go to Costco.com for more info.You can't beat the service and for the deposits into your bank account.You can purchase the equipment easily.They will help you every step of the way.
     
  5. skeet_man

    skeet_man Well-Known Member

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    Thanks, i'll have to check with my bank. I always thought it would be easier going through an online service, but maybe not? I'm usually doing way less than $500/month at any rate (hope to grow that in the future, but it is what it is right now LOL).

    Thanks
     
  6. skeeljc

    skeeljc Supporting Vendor Supporting Vendor

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    Do you want to accept credit cards in person (card present) or do you want to accept credit card payments via the internet or over the phone (card not present)?

    If you do not do business face-to-face you do not need a credit card machine. All you need is a merchant account and an account with a credit card processor. I have used Total Merchant Services in the past. They charge 2.25% plus $0.20 per authorization for card not present. You need some software to accept credit cars payment on your website. The software usually includes a terminal screen to process cards over the phone. You can also process card payments over a cell phone. I believe this method is less expensive than what your bank can offer.

    Jim Skeel
     
  7. skeet_man

    skeet_man Well-Known Member

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    Jim- Will be almost totally over the internet or phone, i'm working out of my home, so there won't be much foot traffic LOL...
     
  8. WoodsonEnt

    WoodsonEnt Active Member

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    Ian,

    When you contact a merchant service, be sure to ask about Misc. Charges. When I signed up to accept credit cards, they told me that it cost me a $7.95 fee a month plus 2.1% of the sale. Well, it costs a heck of alot more than that. When you close out the batch that is 30 cents per batch. Then if someone pays with a debit card, there is a charge for that. If someone pays with a Corporate Card, there is a charge for that. If someone pays with a Business Card, there is a charge for that. All being told, you lose alot more of the sale than 2-3%.

    Matt
     
  9. skeet_man

    skeet_man Well-Known Member

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    Looking at a couple sites, it looks like its alot more hassle than I want/need to get into right now. I've yet to have anyone decide not to buy from me b/c they couldn't use a CC, and those that REALLY need to can still use paypal... Maybe when my monthly income becomes a little more steady,,,and jumps up about 10 fold it'll be worth it LOL.
     
  10. mooner

    mooner TS Member

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    I use merchant warehouse for my business. Most of The monthly fee is 8.95 and the % per transaction is around 2-3%.
    Very easy to do a transaction on your PC. Takes less than a minute. Give them a call. Good luck
     
  11. spitter

    spitter Well-Known Member TS Supporters

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    Looking at the above numbers, if you're not losing a customer to your present payment methods, I don't see any advantage to "fixing" a problem that hasn't come up yet?!

    Keep selling your goods. When you run into a few "lost" sales, then its time to consider fixing the "problem".

    regards to all,

    Jay
     
  12. ShootinSue

    ShootinSue Active Member Supporting Vendor

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    Paypal has a service called "virtual terminal" which accepts all major credit cards. When a customer gives you the credit card info, just type it in the provided boxes, and you are done. This way you can take orders via email, phone, or in person. It will authorize or decline the sale immediately, the same as the bank provided credit card machines. The funds will immediately be in your Paypal account. You may want to ask them about this service since you already are using Paypal.
     
  13. GrubbyJack

    GrubbyJack Member

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    I dont work for COSTCO, but Merchant Credit Card Processing
    Free Terminal Offer!**
    1.64% plus 20ยข
    for Retail Classified Transactions

    info only, hope it helps...
    Grubby
     
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