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Started By
Message
How can I establish Credit Card Processing for Small Startup Business?
Posted on 2/24/16 at 4:43 pm
Posted on 2/24/16 at 4:43 pm
I am interested to set up credit card processing for a small medical billing services startup. So far, I've run into opposition because the business is too new, or volume is too low.
Clients are located across the country and Invoices are emailed monthly. So we never see the clients directly. All transactions occur online. Monthly invoices are between $75 and $400.
Are there programs better suited to this situation? TIA
Clients are located across the country and Invoices are emailed monthly. So we never see the clients directly. All transactions occur online. Monthly invoices are between $75 and $400.
Are there programs better suited to this situation? TIA
Posted on 2/24/16 at 4:45 pm to ynlvr
Do you use Quickbooks? They have an option for merchant services for small numbers of transactions.
Another option is Square.
Another option is Square.
Posted on 2/24/16 at 5:33 pm to LSUFanHouston
QB seems most convenient and practical for me, but even they (QB) rejected me. Didn't give a reason. I will follow up with them to see what may be lacking in my profile.
Would Square work well for this situation where everything is online remote transaction? No face to face.
Thanks
Would Square work well for this situation where everything is online remote transaction? No face to face.
Thanks
Posted on 2/24/16 at 5:35 pm to AmeriKop45
I think I need to review what PayPal offers again.
Posted on 2/24/16 at 5:58 pm to ynlvr
Its simple - PP will charge 3% fee to the user to use a CC. I'm not sure if you could do something where you could pay the fee instead of your customer. But customers can use CCs and you just get money in your PP account and you can easily withdraw to your bank account from there, or use the PayPal business debit card which offers 1% CB.
If you go that route and eat the 3% fee, then you're net cost of accepting CCs is only 2%.
If you go that route and eat the 3% fee, then you're net cost of accepting CCs is only 2%.
This post was edited on 2/24/16 at 6:00 pm
Posted on 2/24/16 at 7:10 pm to ynlvr
I do my invoicing through Freshbooks and I can accept credit cards through them. Normal fees are involved and all I have to do is check a box when I setup the client.
This post was edited on 2/24/16 at 7:10 pm
Posted on 2/24/16 at 7:44 pm to AmeriKop45
quote:
PP will charge 3% fee to the user to use a CC. I'm not sure if you could do something where you could pay the fee instead of your customer.
PayPal only charges the buyer the fee if they are "gifting" money
Otherwise, I think the seller will pay the fee
Only problem with PayPal is it will require all of your customers to start a paypal account. It's free but might turn some people off
Posted on 2/24/16 at 8:53 pm to Croacka
Use this: LINK by Intuit
Same people as Quickbooks but no monthly fee. You can use a Paylink (put in your emails) and the fee is only $0.50 if customers pay with an e-check.
These days there's no reason to pay a company a monthly fee to process your transactions.
Same people as Quickbooks but no monthly fee. You can use a Paylink (put in your emails) and the fee is only $0.50 if customers pay with an e-check.
These days there's no reason to pay a company a monthly fee to process your transactions.
Posted on 2/24/16 at 9:43 pm to ynlvr
quote:
but even they (QB) rejected me
I've had clients with 3-4 transactions a month accepted. Definitely follow up with them.
Square would be fine.
Posted on 2/25/16 at 9:28 am to LSUFanHouston
Finally spoke to underwriting at QB today. Turns out "medical billing" is an industry they do not support. Go Figure! Or medical collections for that matter. I'm feeling a little dirty - kinda like I'm in bed with the porn industry or loan sharks.
Posted on 2/25/16 at 9:37 am to ynlvr
quote:
Turns out "medical billing" is an industry they do not support.
Maybe they have a large number of chargebacks in that business?
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