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  #1  
Old 01-27-2013, 07:01 PM
lazor-cut lazor-cut is offline
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Join Date: Sep 2010
Location: Wixom
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Credit Card Processing fee. Who pays?

I tried searching this question and couldn't find a straight answer.

I am interested in using an automatic draft system this year. But all of them have fees. Should I Eat the fee or should i pass the fee onto the customer as a "convenience fee"

I'm actually thinking about eating the fee as it will be nice to have my money all on the 1st. Easier than running around attempting to collect..

Let me know what you do or would do. Thanks!!!
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  #2  
Old 01-27-2013, 07:27 PM
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Patriot Services Patriot Services is offline
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Eat the fee. Just build it into your price. The days of cash price vs credit price are long gone.
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  #3  
Old 01-27-2013, 09:33 PM
patrick6411 patrick6411 is offline
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Originally Posted by Patriot Services View Post
Eat the fee. Just build it into your price. The days of cash price vs credit price are long gone.
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This is what I do.
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Old 01-28-2013, 12:27 AM
zak406 zak406 is offline
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Location: irwin pa
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I will be introducing credit card payment this year myself. I say eat it... Why you ask? Simple the only people in my belief who will take advantage of it are people who can't afford it upfront. Without credit you will be unable to obtain the job... That's the generation though buy now pay later
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  #5  
Old 01-28-2013, 12:36 AM
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Holland Holland is offline
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Location: Mississippi
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You pay the fee. Shop around though as you can get good deals using a card swiper on your laptop or phone or google checkout for online invoices.
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  #6  
Old 01-28-2013, 07:34 AM
patrick6411 patrick6411 is offline
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Location: Houston, Texas
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Square is who we use. Can use it on the phone and if you need more then one person to use it you can add a second user.
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  #7  
Old 01-28-2013, 09:19 AM
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wegomow wegomow is offline
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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.
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Old 01-28-2013, 10:21 AM
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Patriot Services Patriot Services is offline
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Originally Posted by wegomow View Post
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.
I switched from square to paypals new reader. Keeps all my card transactions under one company. It all comes under cost of doing business.
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Old 01-28-2013, 10:27 AM
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wegomow wegomow is offline
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Originally Posted by Patriot Services View Post
I switched from square to paypals new reader. Keeps all my card transactions under one company. It all comes under cost of doing business.
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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.
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Old 01-28-2013, 10:34 AM
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Patriot Services Patriot Services is offline
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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.
But you lack the portability with a desktop swiper.
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