Accepting credit cards ?

[laserfred]

I'm looking at getting a credit card terminal. I am thinking of it as a way to get paid fast by first time customers, for small jobs, or for deposits on a large job. I usually ask for payment upon delivery/installation for new clients, but sometimes they don't have a check ready and say they'll mail it the next day, and in the end it gets paid in 30 days...

The cost of the wireless terminal is roughly $50/month, and I would have 1.5% fee per transaction.

Does it really help sales ? Would it attract new clients ? Most of my sales are corporate, not individuals..

thanks

 

[njshorts]

Look into Intuit's solution... we're at 20/mo (for the service, plus fees), including a 'gopayment' reader that works with all of our cell phones.

 

[laserfred]

I'm in Canada, so the price may be a bit more for that reason. The fee is 39$ per month for the rental of a wireless terminal, plus 10$ for the cell phone connection.

 

[CheapVehicleWrap]

but sometimes they don't have a check ready and say they'll mail it the next day, and in the end it gets paid in 30 days...


thanks

30 days? In the US that translates to 90+ days. We can't let anyone go for $10 anymore. Lucky you!

Corporate... I think you'll want to accept AMEX then, which will be extra. Never hurts to take CC's. Sounds like you're not getting 50% down one way or the other, which is the norm.

 

[Mike F]

I think a few people on here use this: http://www.squareup.com/

 

[laserfred]

50% down payment... Mmmmm... So goood.. In my dreams!

I say 30 days but mostly it's 45 days on average.

 

[ucmj22]

We use a CC terminal, and it does make it a lot easier to get payment. I actually avoid businesses where i cant use a card. We are currently testing the Square payment acceptance service with our other company and we are looking to implement it with our sign shop once they update the ap to include a better POS. once they do that we are on board. there are no monthly fees, they take 2.5% and payments are deposited next day. no merchant account is required. you can even accept payments on your iPhone, or iPad,

 

[laserfred]

I think a few people on here use this: http://www.squareup.com/

Wow, this Squareup thing is really great! Unfortunately, it doesnt't work outside the US ...

 

[HulkSmash]

50% down payment... Mmmmm... So goood.. In my dreams!

I say 30 days but mostly it's 45 days on average.

you HAVE to get 50% down. What if you order all the materials for the job, and the customer ditches? you're stuck with it all. Your loss.

All companies.....should take a 50% deposit...for orders over $150.

Believe it or not, you'll lose business because you don't accept CC's...

 

[ChicagoGraphics]

You can use paypal, no monthly fees and only $3.20 per hundred, get's less on larger amounts, plus you jst do it thru email

 

[signswi]

Wow we really have "should I get a credit card terminal" threads in 2011?

Terminal, Square, whatever, you need cc capability. Convenience is king. Places that don't take credit lose my business and a lot of people are of the same mindset.

 

[laserfred]

Wow we really have "should I get a credit card terminal" threads in 2011?

Terminal, Square, whatever, you need cc capability. Convenience is king. Places that don't take credit lose my business and a lot of people are of the same mindset.

I would undestand if I got a lot of individual clients, no one carries his checkbook with him. But most of my clients are companies and are used to pay by check. It still is the most popular means of payment in business-to-business transactions around here.

I've started to asked my existing clients if they would like to pay by credit card, and unanimously : no. That's why I remain dubious.

 

[laserman70]

Look into Intuit's solution... we're at 20/mo (for the service, plus fees), including a 'gopayment' reader that works with all of our cell phones.

+1
love the phone card readers we have

 

[Sideshow]

authorize.net

 

[klemgraphics]

I use the Square and like it a lot better than Paypal which I used before. I know I have some rather larger repeat customers that my competitors would have if I did not accept cc payments.

 

[CheapVehicleWrap]

authorize.net

EXCELLENT suggestion. Been using them for about 8 years now.


PAYPAL.... NOT an excellent suggestion. In fact, horrible.

 

[CheapVehicleWrap]

We have a TD Bank

Ahh yes; "America's most inconvenient bank". My last problem with them (last month) involved me threatening to wrap the 34 foot truck that was blocking half their drive up lanes with that exact saying.

 

[Pat Whatley]

The cost of the wireless terminal is roughly $50/month, and I would have 1.5% fee per transaction.

Buy your own machine on ebay (search "credit card teminal") for $50 and forget the monthly ripoff scam

We use Intuit for processing and they've been great. Low processing costs and deposits always hit when they're supposed to (24 hours visa/mc, 48 hours amex). You might also want to check with your bank, until Intuit came along my bank was the cheapest by far. Make sure you lookout for monthly fees, especially the ones you can avoid like the charge for mailing you a hard copy of your monthly statement instead of emailing it.

And most importantly....FEES ARE NEGOTIABLE. Signing up for processing it like buying a used car. If you don't like the deal they offer make a counter offer. If they offer to process for $10 per month plus 1.5% tell them you'll offer them $1.25% and on monthly fee. Processing costs them pennies, they've got a lot of wiggle room there. Don't get hooked into a long term contract, either, insist on month to month.

 

[HulkSmash]

If you find a fee lower than Intuit, they'll match it. Had some guys come in swearing they can beat it. They did... i showed intuit, they matched it.

 

[JoshLoring]

Agree with Colorado! We use intuit as well. NOBODY can match the rates. Plus, it integrates right with quip oils which you should be using anyhow.
We use it offsite with iPhones and you can even integrate it into web for selling online. Intuit all the way!

 

[Kevin-shopVOX]

We use a CC terminal, and it does make it a lot easier to get payment. I actually avoid businesses where i cant use a card. We are currently testing the Square payment acceptance service with our other company and we are looking to implement it with our sign shop once they update the ap to include a better POS. once they do that we are on board. there are no monthly fees, they take 2.5% and payments are deposited next day. no merchant account is required. you can even accept payments on your iPhone, or iPad,

Why don't you just get a betteR POS. there s no reason you should have to wait for square to develop a rinky dink point interface for you. Get something mobile designed for the sogn industry that you can take with you that allows you to price your jobs and invoice them through a mobile device, then take your payment at the same time. Makes more sense. I like and use square but the POS they have with it is not for us.