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Credit Card Processing fee. Who pays?

Discussion in 'Business Operations' started by lazor-cut, Jan 27, 2013.

  1. lazor-cut

    lazor-cut LawnSite Senior Member
    from Wixom
    Posts: 315

    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!!!
     
  2. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,441

    Eat the fee. Just build it into your price. The days of cash price vs credit price are long gone.
    Posted via Mobile Device
     
  3. patrick6411

    patrick6411 LawnSite Member
    Posts: 38

    This is what I do.
     
  4. zak406

    zak406 LawnSite Bronze Member
    Posts: 1,519

    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
     
  5. Holland

    Holland LawnSite Senior Member
    Posts: 735

    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.
    Posted via Mobile Device
     
  6. patrick6411

    patrick6411 LawnSite Member
    Posts: 38

    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.
     
  7. wegomow

    wegomow LawnSite Senior Member
    Posts: 389

    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.
     
  8. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,441

    I switched from square to paypals new reader. Keeps all my card transactions under one company. It all comes under cost of doing business.
    Posted via Mobile Device
     
  9. wegomow

    wegomow LawnSite Senior Member
    Posts: 389

    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.
     
  10. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,441

    But you lack the portability with a desktop swiper.
    Posted via Mobile Device
     

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