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LawnLad
02-07-2002, 04:57 PM
All of this talk of late payments, collection problems... etc.

Does anyone take credit cards? We've had customers ask if do. I don't know how much more business we might get, or whether it would just cost us money by having people use their credit cards for air line miles. I can just see that $10,000 install getting charged and I'm paying $225 for that...

Any experience with this or comments would be great.

dougaustreim
02-07-2002, 05:04 PM
In todays world credit cards are becoming standard practice. Granted it costs you to accept them, but we allocate that across the board as an overhead item. Besides getting the money sooner and with less hassles provides a good deal of payback. We find that some customers would go elswhere if we did not accept credit cards.

HBFOXJr
02-07-2002, 06:01 PM
Yes, we take VISA, MasterCard & Discover. Card fees are part of overhead for us and we spread the "wealth" among all our clients.

We sent a business to small claims court. They offered to pay up the morning of the court date. They paid by credit card over the phone so we got instant verification the bucks were good and on the way to us. My wife then faxed the required info to the court that we were paid and all is well.

Not everyone can be a credit card vendor. They do a credit check among other things to know that your on the up & up. So it can be a small vote of confidence to a buyer.

Credit cards also give consumers some protection against rip off's and dis-satisfaction. Again this may give buyers some comfort that if a problem arises they may get some satisfaction. If you don't amend a screw up, the CC people will take money back.

It's been a good experience for us.

bruces
02-07-2002, 06:21 PM
I'm considering it. I am just getting started this year and am trying to decide if the startup and monthly expenses will be worth it.

It appears that it will cost from 300 to 600 to set up, either with equipment or software, and a minimum cost of approximately 35 to 50 per month for fees, etc, besides the discount charges on the actual payments.

I am small but if it makes it easier to get a customer and get paid, it could be worth it.

HBFOXJr
02-07-2002, 06:35 PM
We pay an annual $60 fee plus the percentage which is now about 3%. Bought our own machine. This service can be shopped around.

QB/Intuit now has CC stuff on line I believe. I think you can process right from your computer if your on cable or dsl line all the time. Don't know fees.

I do know our type of business pays a higher rate becasue we don't swipe the card because we don't physically have it.

These companies also have the add on fees, like if you make a mistake or don't close out daily, etc. Examine everything several places.

Stonehenge
02-07-2002, 06:54 PM
Luuuuuuke..........Use the 'search' luuuuuuuuuke..........

LawnLad
02-07-2002, 08:18 PM
Thanks for snapping me out my daze Obe Won Kanobi!... should have used the search.

Found some good stuff since I did go back use the search. I particularly like Jim Lewis's solution for receivables with AutoPay.

motivated1
02-08-2002, 01:26 AM
the man just set mine up today. One question though, howdo you pass that 3% on to the customer? also can you set up Q/ b's to automaticlay deduct that 3%? thx ps I have tons O' more questions for the avid Q/b user http://motivatedmaintenance.com

HBFOXJr
02-08-2002, 08:53 AM
hey are part of our overhead, just like postage, stationary, phone etc.

SprinklerGuy
02-08-2002, 09:28 AM
You cannot pass the charge to the customer ...directly.....don't get caught they will take your merchant account away....

hb, why the annual fee?

We pay strictly the % which is now 2.82 with no transaction fee. I also bought our machine 3 years ago......don't ever lease them...can you say expensive?

HBFOXJr
02-08-2002, 09:50 AM
Don't know about the annual fee. Maybe volume related, maybe BS. I want my wife to shop this again. She handles that end of things.

Who is your provider?

SprinklerGuy
02-08-2002, 10:07 AM
Discover merchant services......see them at discover.com...i think!

SCL
02-09-2002, 12:59 PM
Gotta guy coming Tuesday, claims they have 1.59% per trans, but non specifics on anything additional. I've checked this out before and it seemed prohibitive then. We'll give it another look and I'll keep you informed.

Bob Minney
02-09-2002, 03:20 PM
We pay 2.35% + 52 cents per transaction. The bank gave me an imprinter to use in the field, but most transactions are done by phone. There is a minimum $25 in fee's per month. I don't see where it helped with once/twice a year aerations etc. but about 50% of new mow customers choose to pay by credit card. Its real handy for deposits on bigger $ jobs.
I find offering and advertising credit cards (using the visa/mc logos on flyers) gives me a competitive advantage in customer perception over those who don't.