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Started By
Message
re: Small Business owners / taking credit cards
Posted on 2/24/15 at 10:03 am to jbgleason
Posted on 2/24/15 at 10:03 am to jbgleason
quote:
I looked at Square but that 3.5% processing fee seems high.
Yikes I didn't realize they were that high. I'm not an SBO but pretty smart dude.
Set minimum purchase limits on your product/service. Increase prices 3% or so. Or simply do like some Chevrons(that fricker on Siegen) and charge higher price for CC transactions.
3
Posted on 2/24/15 at 10:04 am to mikelbr
And now I get a Square add at the top of my screen. Hahaha.
Posted on 2/24/15 at 10:09 am to mikelbr
quote:
Set minimum purchase limits on your product/service
ETA:
quote:
New rules: up to $10 minimum OK
The law says that merchants can set a credit card minimum purchase of up to $10, as long as they treat all cards the same. It also allows the Federal Reserve to review and increase the minimum payment amount.
This post was edited on 2/24/15 at 10:12 am
Posted on 2/24/15 at 10:10 am to mikelbr
quote:
Yikes I didn't realize they were that high. I'm not an SBO but pretty smart dude.
Set minimum purchase limits on your product/service. Increase prices 3% or so. Or simply do like some Chevrons(that fricker on Siegen) and charge higher price for CC transactions.
This.
I would just look at the pros and cons of it all.
Will accepting CCs get you that much more business?
If you sell consumer products, maybe consider trying out accepting credit cards when the holidays come around. See how much it really helps or hurts profit wise.
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