Credit Card Processing fee. Who pays?

[imow in NC]

Originally Posted by wegomow

Square's 2.75 % rate is pretty high compared to a card reader on your business desk. I guess that's the price you pay for the portability of the card reader with a smart phone though.

Gonna throw my 2 cents in here. I have been through several CC merchant and now the square for iPhone. Square, without a doubt beats everything else out there, hands down! carry in pocket, plug into phone. swipe and enter information 2.75% processing fee and money in my account in 24 hours. that's it. no monthly fees, no lease fees, no PCI compliance fees, no equipment to charge, no paper to load, nothing. if ever the acronym...KISS every came to existence, it is now.....

[Patriot Services]

The new paypal swipe works exactly the same way for the same fees. Plus you get all the paypal benefits such as the funds being available on your paypal visa/mc card. Paypal keeps all customer info for recurring charges and allows you to design invoices. Plus Paypal has greater brand recognition. I used square for years and liked it. I just like having all my cc services under one brand.
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[cpllawncare]

I take paypal also that makes perfect sense to have it setup that way! I think I would rather have the money in my business account though not my paypal account

[Patriot Services]

Originally Posted by cpllawncare

I take paypal also that makes perfect sense to have it setup that way! I think I would rather have the money in my business account though not my paypal account

I don't leave much in it. I just have the option of getting cash at an ATM, charging a purchase or transferring funds to any account of my choosing.
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[KG26]

I'd hold off on credit card pmt. If you have a large volume of customers who will go this route then it will pay off if not you will eat the charge. If you are adding the fee to the estimate then the next guy who is a legit $3 lower than you are will get the job.

[magicmike]

I think chase as something like square also, and I think it might be a little cheaper I havent really researched it yet. But check it out.

[Patriot Services]

Originally Posted by KG26

I'd hold off on credit card pmt. If you have a large volume of customers who will go this route then it will pay off if not you will eat the charge. If you are adding the fee to the estimate then the next guy who is a legit $3 lower than you are will get the job.

Not having the ability to accept cc in this day and age makes you look a little dated.
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[newguy123]

Originally Posted by wegomow

I like to keep cost of business as low as I can. I pay 1.4% on debit cards and 1.65% on credit cards.

Who do you use for that low of a rate?

[cpllawncare]

Originally Posted by KG26

I'd hold off on credit card pmt. If you have a large volume of customers who will go this route then it will pay off if not you will eat the charge. If you are adding the fee to the estimate then the next guy who is a legit $3 lower than you are will get the job.

If $3 makes the difference I don't want that customer!

[Holland]

Use google checkout for credit card email link type payments. Paymate makes a nice credit card swipe deal. Never never never try to charge customers cc fees. You eat that small fee for the ease of the transaction.
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