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Started By
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Accepting credit cards
Posted on 12/2/10 at 12:00 am
Posted on 12/2/10 at 12:00 am
Say you are about to start a new retail business and you want to accept credit cards. With all the options available, what route do you take?
1. go through your mega-bank, i.e. Capital One
2. use a specialty company
1. phone line terminal
2. internet based terminal
Any suggestions would be helpful
1. go through your mega-bank, i.e. Capital One
2. use a specialty company
1. phone line terminal
2. internet based terminal
Any suggestions would be helpful
4
Posted on 12/2/10 at 10:29 am to jeepfreak
Not an expert in this - but I believe that Sam's Club and Costco offer this service also.
Posted on 12/2/10 at 11:52 am to ewilliams20
We use hancock and internet had a little company before I believe hancock gives discount if you bank with them
Posted on 12/2/10 at 12:43 pm to jeepfreak
Don't know if this matters to you, but now you can even get a little gizmo that plugs into a USB port so you can swipe a card on your iPhone or Droid.
Posted on 12/2/10 at 1:02 pm to foshizzle
I'll check out Sam's prices/fees. If we go with the internet service, we can nix a phone line, but I'm worried about security.
Posted on 12/2/10 at 4:08 pm to jeepfreak
BTW do something unlike the rest of small businesses and READ your agreement. I want to slap someone when I see them take CC and have a minimal charge sign. YOU ARE NOT ALLOWED TO DO THAT!
Posted on 12/2/10 at 4:35 pm to Catman88
quote:
YOU ARE NOT ALLOWED TO DO THAT!
If it's not enforced, yes you are.
But no, I won't have a minimum.
On another note, what do I need to look out for? Hidden fees? Transaction rates?
Is this competitive: 1.38% plus 20 cents for debit and 1.99% plus 20 cents for credit cards?
Posted on 12/2/10 at 4:45 pm to jeepfreak
Are you using aloha or micro for your register?
Posted on 12/2/10 at 4:51 pm to tigeralum06
quote:
Are you using aloha or micro for your register?
I've got Casio registers. Don't know what aloha and micro are.
Posted on 12/2/10 at 5:15 pm to jeepfreak
So you would be paying 1.99 no matter what kind of card people use? Normally Amex and discover charge a higher rate unless you are not accepting those.
Also depending on the business, you may not want to be paying the .20 per transaction if you are running lots of small transactions. You may come out better by just paying a higher total percent.
Also depending on the business, you may not want to be paying the .20 per transaction if you are running lots of small transactions. You may come out better by just paying a higher total percent.
Posted on 12/2/10 at 5:29 pm to LSU1018
quote:
So you would be paying 1.99 no matter what kind of card people use? Normally Amex and discover charge a higher rate unless you are not accepting those.
Yeah, this company charges a flat rate. Others I've looked at charge around 1.5% for MC, Visa, and Disc and 2.79% for Amex.
quote:
Also depending on the business, you may not want to be paying the .20 per transaction if you are running lots of small transactions. You may come out better by just paying a higher total percent.
Most of our transactions will be $20 and up.
Posted on 12/2/10 at 5:32 pm to jeepfreak
Also I would recommend an internet connection. Most phone connections are slower.
Posted on 12/2/10 at 5:38 pm to LSU1018
quote:
Also I would recommend an internet connection. Most phone connections are slower.
Looked at that, but internet processing costs more.
Posted on 12/3/10 at 9:57 am to jeepfreak
I use Paypal virtual terminal but I only do a few credit card transactions per month. It's a $30 monthly fee and 2-3% per transaction.
Posted on 12/3/10 at 11:46 am to Catman88
I argued with the manager of a truck stop over this. The next day I brought in supporting documents off the Visa website (I work across the street, so I frequent them often). I threatened to call and report them. They took the sign down since then.
Was I right? Yes. Was I being an a-hole? Indubitably.
Was I right? Yes. Was I being an a-hole? Indubitably.
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