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How to accept card payments?

by myattitude
16 replies
Newbie question but I'm putting out my direct mail letters and want to include a method to pay by credit/debit card.

How do you take the payments, do you have a machine at home to punch in their numbers with? Any pointers as to the best service for taking card payments via direct mail? Your own bank?

Thanks
#accept #card #payments
  • Profile picture of the author sconer
    I have been using Square for a few years and have been very happy. I heard of some issues in the past, but I believe those are all gone now. I have run between $99 and $12,000 and never had any issue.

    They allow you to key in CC numbers, but they charge a higher rate for that, so I have never done it. I either swipe the card when I am with the customer, or e-mail them an invoice. The e-mailed invoice has a link in it in which they can pay on Square's secure website, that's my preferred method so that I don't ever touch the card or the numbers myself.
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    • Profile picture of the author shawnlebrun
      Originally Posted by sconer View Post

      I have been using Square for a few years and have been very happy. I heard of some issues in the past, but I believe those are all gone now. I have run between $99 and $12,000 and never had any issue.

      They allow you to key in CC numbers, but they charge a higher rate for that, so I have never done it. I either swipe the card when I am with the customer, or e-mail them an invoice. The e-mailed invoice has a link in it in which they can pay on Square's secure website, that's my preferred method so that I don't ever touch the card or the numbers myself.
      I second Square... been using them for 5 year, love them.

      I hear a lot of people talking about Stripe, but I don't know what it offers, but they may also be worth looking into.

      But yes, I am very happy with Square, although I'm not too sure what the future holds for them. They just lost Starbucks as one of their major clients... which will cause them to take a bigger financial loss... so I'm not 100% sure if they'll be around in 10 years.

      But for now, I love em!
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  • Profile picture of the author John Durham
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    • Profile picture of the author sconer
      Originally Posted by John Durham View Post

      Just out of curiosity, can you still do "non-swipe" (manually entered) transactions with square? For phone sales...?
      Yes, but it is a higher percentage.

      Swiping the card or sending an invoice is 2.75% (no matter what type of card, Amex or rewards, etc. don't cost more).

      Keying in the numbers manually is 3.5% plus a 15 cent fee.

      Now they have a different program in which you can get paid immediate (instead of waiting the normal 1-2 days), but that is a higher percentage. I don't use that.
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      • Profile picture of the author John Durham
        Originally Posted by sconer View Post

        Yes, but it is a higher percentage.

        Swiping the card or sending an invoice is 2.75% (no matter what type of card, Amex or rewards, etc. don't cost more).

        Keying in the numbers manually is 3.5% plus a 15 cent fee.

        Now they have a different program in which you can get paid immediate (instead of waiting the normal 1-2 days), but that is a higher percentage. I don't use that.

        Thanks, just read up and saw that you had answered that.
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      • Profile picture of the author Joe Stewart
        Originally Posted by sconer View Post

        Yes, but it is a higher percentage.

        Swiping the card or sending an invoice is 2.75% (no matter what type of card, Amex or rewards, etc. don't cost more).

        Keying in the numbers manually is 3.5% plus a 15 cent fee.

        Now they have a different program in which you can get paid immediate (instead of waiting the normal 1-2 days), but that is a higher percentage. I don't use that.
        I use Square for my new Local Client business and key in the numbers manually. I prefer to pay the little bit extra and get the deal closed rather than wait for a payment from the client. Actually, my first client insisted I do that because he was used to it.

        I have a regular merchant account for my product sales. I've been thinking about closing it, though. Square is more expensive from first glance, but once I add in their monthly minimum, plus additional fees for cards that aren't commercial, plus a quarterly PCI fee, it's starting to look pretty good.
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        • Profile picture of the author sconer
          Originally Posted by Joe Stewart View Post

          I use Square for my new Local Client business and key in the numbers manually. I prefer to pay the little bit extra and get the deal closed rather than wait for a payment from the client. Actually, my first client insisted I do that because he was used to it.

          I have a regular merchant account for my product sales. I've been thinking about closing it, though. Square is more expensive from first glance, but once I add in their monthly minimum, plus additional fees for cards that aren't commercial, plus a quarterly PCI fee, it's starting to look pretty good.
          I typically deal with customers who I trust, so that's why I just send the invoice.

          But there are many situations in which I would want to get the number right away and key it in, so it's nice having that options.

          As you mentioned, Square has no monthly fee and no minimum. It's very simple, easy, and cost effective. I find it amazing that small businesses out there still don't accept credit cards. I can't tell you how many calls I get start with "I am having a problem in my home, do you accept credit cards?"
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  • Profile picture of the author myattitude
    I see PayPal also have this available https://www.paypal.com/uk/webapps/mp...it-card-reader

    3.4% + 20p for manual entries.

    I'm surprised our banks don't already offer us this facility. I'll look into Square. Thanks
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  • Profile picture of the author nojobsleftbehind
    Set up a Paypal Business account. You can send payment invoices by email and the recipient can pay safely with their credit card. I do this all the time.
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  • Profile picture of the author jerehsiao
    Offline: paypal business account or wordfirst

    Online: paypal WPS, receive CC
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  • Profile picture of the author Oziboomer
    Originally Posted by myattitude View Post

    Newbie question but I'm putting out my direct mail letters and want to include a method to pay by credit/debit card.

    How do you take the payments, do you have a machine at home to punch in their numbers with? Any pointers as to the best service for taking card payments via direct mail? Your own bank?

    Thanks
    If you have a business account with your bank just ask them about getting a merchant account.

    There is a lot of competition in payment processing and I'm sure you can negotiate a better rate over time particularly if you start to put some volume through.

    From an offline business owner point of view we are always reviewing payment processing providers and we use multiple payment processors depending on whether we need to process automatically online or to run a manual transaction.

    For e-commerce or phone/ mail-order transactions you will pay a higher rate than for in person transactions.

    Some providers will give you a good rate if you process a specific number of in-person transactions versus mail, internet or phone transactions.

    The common processors we use in business are firstly a merchant facility provided by one of the second tier banks...they tend to offer more competitive rates.

    ...secondly we run an online payment processor called Eway.

    Thirdly...Paypal.

    Then also Stripe and Gumroad for stuff we sell on facebook.

    Each has different fees and different pros and cons.

    It all comes down to convenience for your specific circumstance.

    I would always suggest using the facility offered by the bank you have your business account with first and then add to that as you see fit.
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    • Profile picture of the author sconer
      Oziboomer, while your post is filled with excellent advice, I find myself too lazy to do any of that.

      That's why I like Square, no monthly fee and a single rate for all cards.

      When I started excepting credit cards I raised my rates across the board to cover the fees and never thought about it again.


      On a different note, with the recent changes to credit card liability, it would be wise to look into how you accept the card these days. As I said earlier, I like sending the invoice to my customers and having them pay online. But will I now be liable for fraud since I didn't use the chip reader?
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      • Profile picture of the author Oziboomer
        Originally Posted by sconer View Post

        Oziboomer, while your post is filled with excellent advice, I find myself too lazy to do any of that.

        That's why I like Square, no monthly fee and a single rate for all cards.

        When I started excepting credit cards I raised my rates across the board to cover the fees and never thought about it again.


        On a different note, with the recent changes to credit card liability, it would be wise to look into how you accept the card these days. As I said earlier, I like sending the invoice to my customers and having them pay online. But will I now be liable for fraud since I didn't use the chip reader?
        The fraud aspect is why it would pay to be less lazy and set things up as a professional business.

        There is nothing wrong with "flat rates" or "no monthly fees."

        The consideration you probably should be making is...

        "What do your client's think?"

        Because I do a lot of B2B business and a lot of that business is to businesses that are far larger than my own I need to have payment options that "THEY" prefer and trust even if that means more work on my part.

        If you are emailing an invoice to your clients and you have a bank account listed for EFT payments why do you need a credit card processing facility when they could just transfer the funds directly.....no fees..and in many circumstances far easier?
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        • Profile picture of the author sconer
          Originally Posted by Oziboomer View Post

          The fraud aspect is why it would pay to be less lazy and set things up as a professional business.
          In what way?

          There is nothing wrong with "flat rates" or "no monthly fees."

          The consideration you probably should be making is...

          "What do your client's think?"
          They are perfectly happy with my company accepting credit cards. I have only received praises, never complaints about Square.

          If you are emailing an invoice to your clients and you have a bank account listed for EFT payments why do you need a credit card processing facility when they could just transfer the funds directly.....no fees..and in many circumstances far easier?
          Because not only would that not be easier, it also wouldn't make the customer feel as safe.

          Plus, one of the biggest selling points of accepting credit cards is that the customer doesn't need to have the money in order to get the job done. A lot of people live paycheck to paycheck. Accepting EFT payments isn't a selling point, accepting credit cards is.
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  • Profile picture of the author DaniMc
    Forget about fees and don't overthink this simple thing.

    1) You need a way to get money. Pick the easiest way that comes to mind first. Use that. Just do it.

    2) later - once you know you are running enough cards to matter - then see if you can cut costs.

    Really - the differences are pretty small until you are selling pretty big numbers.

    You can't reach your goals by cutting and saving - you reach them by selling and expanding. Don't spend more than 10 minutes deciding what payment processor to use. Just make sure it works. Compare the rates later.
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    • Profile picture of the author sconer
      Originally Posted by DaniMc View Post

      Forget about fees and don't overthink this simple thing.

      1) You need a way to get money. Pick the easiest way that comes to mind first. Use that. Just do it.

      2) later - once you know you are running enough cards to matter - then see if you can cut costs.

      Really - the differences are pretty small until you are selling pretty big numbers.

      You can't reach your goals by cutting and saving - you reach them by selling and expanding. Don't spend more than 10 minutes deciding what payment processor to use. Just make sure it works. Compare the rates later.
      This is my point. I found a good company to accept CC's and I ran with it. I raised my rates a little bit to cover the CC fees and I was done. That's it. Spending the time like listed above to have 40 different methods of payment eats into my profit far more than saving 0.03% here and there.
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  • Profile picture of the author TrumpiaTim
    Authorize.net and PayPal are both great experienced providers in this space.

    Also if you're having clients sign an invoice electronically, I would recommend Adobe Echosign, from experience it is a secured and stable system.
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