Anybody use credit card readers?

2.75% For Square which seems to be the most popular since they were the first and a smidgen less for others

Pay anywhere, go payment, paypal, quicken in on it now too.

I look at it last month and concluded the large amounts we run in the 4 and 5 figures does not make sense with the holds and the costs.

Smaller 3 and 3 figure transactions seem to love it. Use the search. There are many many threads on it here on this forum

Some have a second option where it's about thirty a month and then the percentage drops 1% and then if you don't swipe and key in transactions, it goes back up. That's the quick and dirty. Google will give you all the options on page one results. I just tried and see Capital One is in the game now too. Didn't see them last month.

It's a fast growing industry.

Here's another option for you www.breezeworks.com They have a 2.5% credit card process fee and includes more features with their app.

I have a square, I've only used it a few times in 2 years, but it's an option for the homeowners

Small jobs I'm cool with it...big jobs = big fees...at 2.75% it adds up quickly. With Square the cash is in your account the next business day. For small repair work that you're unsure if the HO can or will pay up, it's nice to grab their card and ensure you're paid quickly!

jlsconstruction said:

I have a square, I've only used it a few times in 2 years, but it's an option for the homeowners

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I agree. It's nice to have the option to offer homeowners the option to pay with a credit card. I think it also reflects on our professionalism as a company.

Thanks guys! I'm going to get the Square and try it out. It's only $10 and you get that back as a credit when activated, so really nothing to lose. The goal is to use it only for small amounts (say less than $300) on repair type jobs . Money is tight for a lot of folks and I think having the option of paying by CC for an unforeseen repair can only help both parties. I lost what would have been a profitable pipe-burst repair last month because I don't take CC's. HO (repeat client) had to have it fixed and went with a larger company because of that.

I don't have a swipe reader, but I can take CC's on my phone. I have it integrated in my invoices, when I email my invoice, there's a option on it to pay by CC. Haven't used it yet though. it's nice to have as an option, one more way to try and get your money.

I ran a over $30k through Paypal last year. I do have the smart phone swiper but I don't use it as I prefer invoicing and don't really want to be swiping cards in people's homes. If I was doing more service work then I think it would be great.

I've had a VERY positive response to accepting credit cards and most of my customers seem comfortable with the Paypal name. I have a price on my proposals and a 3% discount for cash or check payments directly below it so the processing fee is immaterial to me.

I do know that I have $27k in sales over the past 12 months that I can directly attribute to accepting cc's. That is directly from my customers.

Credit card readers?

66 Shelby said:

Do any of you use the credit card readers (that attach via USB to a phone or tablet) to accept payment? I was thinking about getting one for payments on small jobs. I have no experience using one, but I'm thinking it would be a nice option to give a client.

From my (uneducated) point of view -

Pros -
A nice option for the HO
Seem more professional
Not worrying about a check bouncing

Cons -
How long to get paid by CC company?
What if they dispute the charges? (even for something as simple as a chip in paint or fingerprints on something)
How much % do they charge?

For anyone using one, I would like to hear about your experiences and also recommended companies/products to use.

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Been through several...PayPal, GoPay, Square etc. Have settled on Rectangle. Low transaction rates (2.43%) Takes all cards including Amex, money in the bank next day. No monthly fees, no contract :thumbsup:, No complaints.:clap:

I would look to see who your bank works with for merchant services. I looked at square but didn't like the fact that they could hold my money for up to 30 days when you make a certain number of charges. I forget all the details about why, but it seemed they could hold for big charges or multiple charges.

If you go with a merchant that has a relationship with your bank you might get better results with when your cash from charges is available. I can get any amount I charge to a customers card deposited into my account on the second business day.

David

Jrnoodle said:

I would look to see who your bank works with for merchant services. I looked at square but didn't like the fact that they could hold my money for up to 30 days when you make a certain number of charges. I forget all the details about why, but it seemed they could hold for big charges or multiple charges.

If you go with a merchant that has a relationship with your bank you might get better results with when your cash from charges is available. I can get any amount I charge to a customers card deposited into my account on the second business day.

David

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The problem I found here is the bank wants you to work with a bulky card reader that runs on the GSM cell network, this means buying and paying monthly for a SIM card just so the thing can communicate with the merchant network.

I use Square and it charges 2.75% per transaction. No monthly fees, etc.
Works great for me. Money deposited @ midnight each night.

Hope this helps you.

I do Media Blasting most of the time but on the side I also rep for "Central Payment, A TSYS Co." which is one of the largest credit card processing companies out there. Central Payment has rates as low as 1.25% and your funds are deposited in your account within 48 hours. I you have questions, please call me at 775-392-0396. I am able to give you a standalone terminal as well as a mobile swipe for your phone or I pad for free. I sign up accounts all over the phone and fax. :thumbup:
Bob Moore

EthanB said:

I do know that I have $27k in sales over the past 12 months that I can directly attribute to accepting cc's. That is directly from my customers.

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Ethan, are you saying that they would not have been customers if you did not accept credit cards?

I use Square as well, though I don't use it often, as most of my customers write checks. I had them hold money for 30 days once due to reaching a limit. I followed their procedure to raise my limit and haven't had an issue since.

I am not trying to call anyone out, but I don't see the objection to taking large payments via CC because of the fees. 2.75% is 2.75%, no matter how you slice it. 100 charges of $100 each would be $10,000 and you would loose $2.75 on each transaction for a total of $275. The $10,000 charge is going to take $275 at one time, but your net is the same. Anywho, just a question I have.

I use square.
Money is in my acct the next day usually, and there's only processing fee not a monthly like most companies charge. Plus the reader is free or cheap with a rebate

EthanB said:

I ran a over $30k through Paypal last year. I do have the smart phone swiper but I don't use it as I prefer invoicing and don't really want to be swiping cards in people's homes. If I was doing more service work then I think it would be great.

I've had a VERY positive response to accepting credit cards and most of my customers seem comfortable with the Paypal name. I have a price on my proposals and a 3% discount for cash or check payments directly below it so the processing fee is immaterial to me.

I do know that I have $27k in sales over the past 12 months that I can directly attribute to accepting cc's. That is directly from my customers.

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There dispute resolution heavily favors the payer. I have heard to many horror stories about money being deducted after being deposited due to a dispute.

Scoma said:

I use Square as well, though I don't use it often, as most of my customers write checks. I had them hold money for 30 days once due to reaching a limit. I followed their procedure to raise my limit and haven't had an issue since.

I am not trying to call anyone out, but I don't see the objection to taking large payments via CC because of the fees. 2.75% is 2.75%, no matter how you slice it. 100 charges of $100 each would be $10,000 and you would loose $2.75 on each transaction for a total of $275. The $10,000 charge is going to take $275 at one time, but your net is the same. Anywho, just a question I have.

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I just started charging a fee for cc use.

KAP said:

Ethan, are you saying that they would not have been customers if you did not accept credit cards?

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Yes I am KAP, the customers explicitly stated that they hired me to do the projects, or added options, at that time because I accept credit cards. You and I have covered this territory before.

I have two small projects for a customer in March(about $2500) who just emailed me last month to confirm that I did accept cc's. When I replied that I did she was relieved and said that had just had an unexpected expense and would have had to postpone if I did not.

That's solid enough for me.