posted
I hate accepting credit card payments for sign purchases.
I see on my merchant account statement they want to charge me an additional $7.95 per month for CCAP (Card Compromise Assistance Program) on top of what they charge for PCI Compliance. I have a stand alone terminal that does not go through the internet. Wouldn't this be the most secure form of transmittal for customer info?
I have several customers who use Square and other card swipe readers in their businesses and I ask them about the PCI compliance and how they are protected against security breaches. No one has an answer.
Life was so much easier when the customer paid cash or wrote a check. I fought allowing credit card payments for a long time, but several companies with employees have them pay for their truck lettering with a company card. It's almost impossible to avoid accepting credit cards.
The merchant service company I use says I can opt out of the CCAP $7.95 per month coverage, but I would be accountable for any security breaches and the expenses involved.
Has anyone looked into this? What about the PCI compliance charges? I'm paying $70 per year, plus $4.95 a month to be in compliance.
Reading up on it via internet is very confusing and most of it addresses the equipment used through the computer. Any comments?
-------------------- Pam Eddy Niles, MI ple@qtm.net Posts: 460 | From: Michigan | Registered: Dec 2000
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posted
the question you ask actually is very simple,...is it worth that dollar amount each month to protect you and your customer's data? These days it is not a matter if but when the identity thieves and hackers will breach your data if there is money involved,..,. If your data is breached and your customers credit data compromised do you want to be able to tell them you did what was the industry standard for their protection or that you didn't think it was worth the $8 a month? if your credit data is breached is it worth $8 a month insurance to protect your own data? What is it worth a month to protect you and your customer from credit card theft? How many people do you know that have had bogus charges made against their account and do you think the thieves are going to lessen their efforts any time soon? Most credit card theft is for less than $100 but it is usually done multiple times across a large group of target victims,....do you want to take that chance for $8 a month and risk the chance of having to explain to your customers and then handle the damage control to your reputation as an honest business?
I am a very strong opponent to organised insurance, if you or I tried it the govt. would lock us up for extortion,...but the powers that be have this system that allows them to fleece us financially and legally so I don't propose to advise for or against this either way but only ask you is it worth $8 a month to you to have peace of mind,...thats the price the powers that be have placed on your peace of mind and the value of feeling protected,....
[ May 09, 2013, 07:35 PM: Message edited by: Tim Barrow ]
-------------------- fly low...timi/NC is, Tim Barrow Barrow Art Signs Winston-Salem,NC Posts: 2224 | From: Winston-Salem,NC,USA | Registered: Nov 1998
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posted
Interesting points Tim. With all those Square and mobile Intuit users, many who are individuals and not businesses, what will be the long term fall out for playing in this game? I dropped my processor because of this and went to Square, but your post gives me great pause now.
-------------------- Wright Signs Wyandotte, Michigan Posts: 2785 | From: Wyandotte, MI USA | Registered: Jan 1999
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posted
From their website: Square is the merchant of record for every transaction, which makes us dedicated to keeping your business safe. We deal with the banks on your behalf and take care of compliance, regulation and processing so you can focus on running your business. We’ll go to bat for you if someone disputes a transaction and we’ll make sure your money moves quickly and securely into your bank account. Square does the heavy lifting. All you need to do is swipe
It seems like it's the same as using paypal. If someone uses a stolen credit card to pay you via paypal, it's on paypal, not you.
-------------------- Chris Welker Wildfire Signs Indiana, Pa Posts: 4254 | From: Indiana, PA | Registered: Mar 2001
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this compliance is one of the biggest of scams used by CC companies. If you do not store customers data then there is no worries. There are hundreds of posts around that show us how to avoid the ripp off.s
-------------------- Leaper of Tall buildings.. If you find my posts divisive or otherwise snarky please ignore them. If you do not know how then PM me about it and I will demonstrate. Posts: 5273 | From: Im a nowhere man | Registered: Jul 2001
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Card processing applications adhere to PCI Data Security Standard (PCI-DSS) Level 1. Square prohibits the storage of card numbers, magnetic stripe data and security codes on client devices.
This thing is handy beyond belief. I first started using it about a year and a half ago. Some people were a little freaked out by it. This year everybody has run across it before and it's second nature.
-------------------- George Perkins Millington,TN. goatwell@bigriver.net
"I started out with nothing and still have most of it left"
posted
With Square or Intuit, is there any fine print that says, "as long as your equipment is secure on your end" Is there any loop hole saying they handled the security the best they could from their end, but say you have an older phone or tablet and the hackers have found a way past the security..... I'm not tech savvy and do not even own a smart phone, but a customer said the other day he uses the latest IPhone with his Intuit swiper because Apple has the best security.
I don't mind paying the $8 per month, put the fees and PCI keep adding up. We can only pass along, I think, 3% or 4% to the customer now to cover what Visa or Master Card charges us, but now the Compliance fees and "insurance" fees. How does a small business blend this into the price of the product when it's so competitive out there now? I think Visa and Master Card ( and all the rest) should have to provide us with property security since they expect us to work for them.
If Square or Intuit are the way to go, then I will be changing over to one of them. How many people here are using them and has there been any problems?
Thanks for the interest in this topic. We all need to watch our backs.
-------------------- Pam Eddy Niles, MI ple@qtm.net Posts: 460 | From: Michigan | Registered: Dec 2000
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posted
I agree with Curtis- if you are storing someone's personal cc info on your own device, there are some major security issues and hoops you may need to check out- Square, Paypal, etc. are basically providing the processing services for you so you don't have to do that stuff. Credit card companies have all sorts of add-on services for them to make money- sounds like a "Compliance fee" is a way to pass more charges to the customer.
I'm not saying don't do anything to protect yourself, but if a thief wants your money bad enough, they will find a way.
I use Square (for over a year) and Paypal (for at least 12)
-------------------- Michael Clanton Clanton Graphics/ Blackberry 19 Studio 1933 Blackberry Conway AR 72034 501-505-6794 clantongraphics@yahoo.com Posts: 1735 | From: Conway Arkansas | Registered: Oct 2001
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Pam, since you are in Michigan, you now have an option to recover those fees. It used to be illegal to add a fee for credit card use, but according to a government source, that law has been repealed and you can now add a service fee up to 5% on credit card purchases.
-------------------- Dave Sherby "Sandman" SherWood Sign & Graphic Design Crystal Falls, MI 49920 906-875-6201 sherwoodsign@sbcglobal.net Posts: 5396 | From: Crystal Falls, MI USA | Registered: Apr 1999
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posted
I use Square. I do very few credit card transactions, but it's convenient to have it with me on-site and swipe the card right there. The fee is 2.75%. Banks may be a little lower, but I'm not paying anything other than the fee when I use it. Usually my $ is in my account the next day.
-------------------- Chris Welker Wildfire Signs Indiana, Pa Posts: 4254 | From: Indiana, PA | Registered: Mar 2001
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posted
After reading your post regarding accepting cards, I found a website that covers this " can of worms " I used to have a terminal but almost never used it. If you would like more info with reviews on Square and so on, go to www.cardfellow.com/blog
Good luck with whatever you decide to do.
-------------------- Tom Rose 1938 Model Sign Dude T.Rose Signs Whitehall,PA Posts: 327 | From: Whitehall,PA,USA | Registered: Feb 1999
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posted
I also have those PCI fees and other bull**** fees that make me crazy. But I'm just apprehensive about the security of a Square swipe.I have a corporate client who will only pay by Visa card so that is my main reason for using credit cards. One of my other large clients switched to paying by automatic funds transfer directly into my bank account. Wish more people did that.
-------------------- Jean Shimp Shimp Sign & Design Co. Jacksonville Beach, Fl Posts: 1266 | From: Jacksonville Beach, Fl. USA | Registered: Nov 1998
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Like you, and to keep the story short, I've been run thru the ringer over my merchant account to the point of being outright absurd.
Yet my sister-in-law gets a Square with absolutely no problems or glitches or craziness whatsoever.
ANYONE seems to be able to get a square, so how long before there is "fallout" from letting every joe-blow on the street have a square? Especially people who don't even really have businesses? I know people who are getting them that I wouldn't even trust to do business with if they handed me cold, hard cash.
I fear something bad is coming.
-------------------- Michael Gene Adkins The Fontry 1576 S Hwy 59 Watts OK 74964 Posts: 845 | From: Watts, OK USA | Registered: Jun 1999
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Thanks for the link to cardfellow, excellent information. Jean, the direct deposit sounds good, but I checked with my credit union manager and she said they can deposit into your account, but they can also pull money out. Mistake or not, if it's a business account, it's up to you to fight them to get your money put back. Had a customer go through that with a $30,000 w/d instead of deposit from a place he did trucking for. Took months to get it straightened out. I don't like giving out my account access. Thanks for all the information on this topic. It's time to cancell the contract with my merchant service company and try something else.
-------------------- Pam Eddy Niles, MI ple@qtm.net Posts: 460 | From: Michigan | Registered: Dec 2000
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posted
I stopped using the bank provided credit card machine over a year ago. However, I had lease payments until this month. $30 a month plus compliance fees, lease taxes, and their 2% cut. Square is SOOOO simple and easy.
Plus, contrary to what First Data and other CC processors tell you, the client credit card numbers are NOT stored on your phone. Its a win/win.
""Good judgment comes from experience; and a lot of that comes from bad judgment" - Will Rogers Posts: 3484 | From: Beautiful Newaygo, Michigan | Registered: Mar 2003
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I use a different bank for my credit card and direct deposit transactions. I keep very little money in this account just in case someone tries to access it. One of the perks of not having a lot of money is you don't have to worry too much about people stealing a lot of money.
-------------------- Jean Shimp Shimp Sign & Design Co. Jacksonville Beach, Fl Posts: 1266 | From: Jacksonville Beach, Fl. USA | Registered: Nov 1998
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