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Small Business owners / taking credit cards
Posted on 2/24/15 at 10:02 am
Posted on 2/24/15 at 10:02 am
For the SBO's out there, how do you handle credit card payments? I RARELY do sales that require cc payments but need to have the capability.
I looked at Square but that 3.5% processing fee seems high.
I looked at Square but that 3.5% processing fee seems high.
17
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.
Posted on 2/24/15 at 10:04 am to jbgleason
I'd call chase. I used them and they gave pretty good pricing
Posted on 2/24/15 at 10:04 am to jbgleason
no amex
Posted on 2/24/15 at 10:04 am to jbgleason
If you don't take Amex I am not coming back to you unless you have a superior product (i.e. Johnny's pizza 
)
)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 10:06 am to jbgleason
Specs I assume raises their prices. And you save 5% by using cash or debit
Pretty smart imo. I always feel like I'm getting a deal
Pretty smart imo. I always feel like I'm getting a deal
Posted on 2/24/15 at 10:07 am to jbgleason
quote:
And now I get a Square add at the top of my screen. Hahaha.
Haha these ads can be freaking creepy. Square is one of them "got you by the balls" business models. They make merchant services SOOOO fricking easy for SBO but.... that 3.5% is at least .5% higher than standard merchant services I've seen even with taking Amex.
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 10:09 am to jbgleason
I'm not a small business owner but still rock the Square credit card reader on the I6+ Baw. Never know when you gotta collect.
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.
Posted on 2/24/15 at 10:11 am to BACONisMEATcandy
quote:a NLa'nian would
Johnny's pizza
over the most overrated pie EVER 
Posted on 2/24/15 at 10:11 am to jbgleason
Check with National Bankcard and Sage. They have similar products as the Square, but better pricing.
Also, check "best credit card processing companies" and you should get a good list of companies that includes fees. Important to have one with no cancellation fees
Also, check "best credit card processing companies" and you should get a good list of companies that includes fees. Important to have one with no cancellation fees
Posted on 2/24/15 at 10:12 am to jbgleason
evan the little po boy shop down my street run by 3 little old ladies takes square. mus be the best option out there money wise.
Posted on 2/24/15 at 10:12 am to GrammarKnotsi
Its not illegal but against the service agreement with your CC processor.
The company that my parents used charged a flat rate of all purchases during the day. So, we let people put $1 on a CC o $100.
The company that my parents used charged a flat rate of all purchases during the day. So, we let people put $1 on a CC o $100.
Posted on 2/24/15 at 10:13 am to SuperSaint
It is the best chain pie... I will obviously concede there are better pizzas out there
Posted on 2/24/15 at 10:13 am to jbgleason
Do your research, adjust your pricing up to the highest average to cover your cc service fees. Offer cash discount..... 
Posted on 2/24/15 at 10:14 am to mikelbr
That .5 is their cut, they're just a middleman. Chase or FD is their acquirer.
Posted on 2/24/15 at 10:19 am to jbgleason
Have you checked PayPal?
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