I have been putting off accepting credit cards at my small shop. I never thought it was necessary. Now I am getting many request from customers, large and small, to pay by credit card. I have had the credit card companies send salesmen over that want to charge me $1600 for a terminal and incrediable amounts for monthly bank fees on top of a percentage of sales. A customer was in the other day and he said he runs his credit card paying customers through Quickbooks 2002. He said he can run their card and the money is in his bank account within 4 days. Sounds good, but he also said the software was only $230 at the Wholesale Club and the bank only charges him 2.3% of sales. This is starting to sound too good to be true.
Does anyone else use Quickbooks or any other software to take credit card payments? Or what do you suggest for credit card service. I can see already, I could easily fall into an expensive situation if not careful.
Thank you for your help. It's always greatly appreciated.
Pam Eddy Pam's Signs
-------------------- Pam Eddy Niles, MI ple@qtm.net Posts: 460 | From: Michigan | Registered: Dec 2000
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We have been accepting credit cards for a couple of months through QB 2002 with no problems at all, and no hitches. You have a couple of choices when signing up and we chose Wells Fargo for a higher monthly fee (4.95 I think) and a lower rate. There is another alternative, I don't remember who, that offers $1.95 per month and higher fees.
Keep in mind that this will almost definitely require that you keep your company's books with QB 2002 - while you can use it for only processing credit cards, I wouldn't recommend it as a way to only save dollars on this service.
If you're just looking to process cards, USSC members get a discount when signing up with First of Omaha - email me for details if you choose to go this route. It's about $15-16 per month for a terminal and a decent rate (2.65%). You can also sign up with them if you're not a USSC member and still get a good deal.
I think for simple processing a terminal is best, but if you're using QB, it's a breeze to do it through there.
-------------------- Best Regards, Mark Smith EstiMate Sign Pricing Software It's Not Luck. It's EstiMate.™ http://www.EstiMateSoftware.com 1-888-304-3300 Posts: 724 | From: Asheville, NC, USA | Registered: Nov 1998
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Pam, with the migration to computers to handle these tasks, you can probably get a terminal at absolutely no cost if you are willing to hunt around long enough to find someone that has no use for theirs anymore.
There are also CC processing companies that offer their service via their secure website where you can log-in and enter the card information, and get instant authorization and settlement, ie: you dont even have to pay for software.
There's also other P.O.P terminal software that does the same thing, but you avoid any downtime issues by having all the processing handled on your machine instead of a website.
If you're already using QuickBooks for bookkeeping, you may as well use it for CC processing.. If you're not using it, it might be time to start using it but use it for the books too, not just processing payments.
-------------------- "If I share all my wisdom I won't have any left for myself."
Mike Pipes stickerpimp.com Lake Havasu, AZ mike@stickerpimp.com Posts: 8746 | From: Lake Havasu, AZ USA | Registered: Jun 2000
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Pam, you shouldn't have difficulty finding a company that will set you up with on-line payment processing. I use E-Paynow Richard Wood [rwood@e-paynow.com].
At retail there are advantages to a "swiping" terminal, the first is speed, the second is that "swiping" the card gets you the very lowest rates, third, the "swipe" is proof you have the card in hand.
The online services work fine, you just have to get online, sign in, type in info, and so on and it takes time if you are doing very many transactions.
I think NOVA is a good outfit. You might check them out. Vic G
-------------------- Victor Georgiou Danville, CA , USA Posts: 1746 | From: Danville, CA , USA | Registered: Dec 1998
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I bought my terminal (TR7) on Ebay for 200 bux. The card processor programmed it over the phone line for free. 1.69 % + 15 bux a month basic fee.
-------------------- 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: 5278 | From: Im a nowhere man | Registered: Jul 2001
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I started accepting credit cards just recently …………I don’t use a terminal. All my transactions are done over the phone. Its very simple, you just punch in numbers………..money is in my account 2 to 4 days. I pay about 3.5% on the transaction. I don’t have walk in traffic or do a lot of visa transactions so I don’t need a fancy terminal, but I still have the ability to accept all major credit cards…………….I like this system, works well for me.
-------------------- John Martin Robson Pendragon Signs & Graphics Yellowknife,NT,Canada
if it's not one thing.....it's two things Posts: 261 | From: Yellowknife, NT, Canada | Registered: Aug 2000
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We had been talking about taking credit cards lately, but never did anything about it. Then last week, we got a letter from city hall saying that as of next month, they will only be making payments via CC.
Good timing on this thread.
[ June 13, 2002, 06:05 AM: Message edited by: Glenn Taylor ]
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