Want to accept credit cards? Here's the easy way

38 replies
As a local online consultant, I think accepting credit cards is essential or you'll be losing out on sales.

Now you can EASILY accept credit cards in the field. Best part? You receive the money into your bank account the very next day.

Here's the problem:

Many local consultants cannot qualify for a merchant account. Problem #2: Most brick and mortar business owners do not have a PayPal account. Or consultants find it difficult to get them to use the internet to make their payment.

Also with traditional merchant accounts, there are "exorbitant" monthly fees, long-term contracts, the cost of buying a card reader, etc.

Problem solved:

Now, there's a new service called Square. All you need is an iPhone, iPad or Android smartphone and a checking account (business OR personal). You can begin taking Visa, Mastercard, Discover, even American Express cards--with no credit check.

Here's the link: https://squareup.com/

They'll even ship you a free dongle (card reader) which you simply plug into your device's audio input and you're ready to begin accepting credit cards.

The sign up process is super simple, again there is no credit check. No contract. Just download the Square app and you are ready to go.

Square deposits all swiped transactions from the previous day, so you get paid into your checking account within 24 hours!

- Rick Duris

PS: Here are some background articles for you to research further.

Three Ways Entrepreneurs Are Using Mobile Commerce to Grow | Entrepreneur.com

Transforming Business with Mobile Payments | Entrepreneur.com

PPS: Yes, I know this information will piss off traditional merchant service providers. But this really is a far superior solution for business consultants like us.

PPPS: Now you can add "How would you like to pay for this?" to your list of test closes. Plus businesses normally see a 30% jump in revenues the moment they begin accepting credit cards.
#accept #cards #credit #easy
  • Profile picture of the author Shoot
    Been using square for just under a year now. I have NO complaints with them.
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  • Profile picture of the author dminorfmajor
    That's awesome, so you don't have to pay for any of this? It's free? All you do is sign up with them, download the app and wait for a free plug-in reader?
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  • Profile picture of the author Shoot
    Free, You pay a % of the sale.

    You do have to buy the scanner for $10 (if you want it from a store) but they credit you $10 as soon as you set up your account.
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  • Profile picture of the author NetEmpire
    If you request the reader to be sent via mail, it is free and you only pay a percentage of each transaction, no monthly fees.

    I just started using a few weeks ago.

    Great share though as I am sure most people aren't aware yet.

    This (and the others that follow) will be a game changer.
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  • Profile picture of the author SallyJo
    I was an early adopter to Square (they really had some quirky issues in the beginning - maybe they're better now) ... they had weird fund holds, etc.

    I prefer Gopayment from Intuit. Been using them for over 2 years now. No holds. The rate that I'm on is less than Square - and I don't even have to mess with that swiper thing.

    Just last week Gopayment sent me a swiper thing (for free) that I didn't ask for. So I do need to call them to see if my rates would be better if I swipe.

    Gopayments swiper is definitely better than the Square dohicky.
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  • Profile picture of the author natethegreat7037
    Say wha? That's neat! That would be a great tool to take with me on the go, especially as most people don't carry around checks. In addition, I could see it allowing for more flexibility in terms of accepting a quick payment, in a scneario such as someone being interested in your service from simple chatting in a grocery store. Why wait to set up a meeting when you can take the first payment there?

    Very nice indeed!
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  • Profile picture of the author NetEmpire
    Doesn't Gopayment require a credit check?

    I applied to intuit a year or so ago and was denied because of my credit.

    I had a failed mortgage brokerage and lost everything.

    :-(

    I'm not sure of the past, but currently, there is no hold with square unless you are processing transactions without the card being present, ie. you manually enter the card information. It is my understanding that anything above $1,000 in a week that is manually entered (card not present) is subject to a hold for up to 30 days.

    All of my transactions I am swiping the card as that is the best safeguard against chargebacks, fraud and is the lowest cost.

    In 2 weeks I have done 8 transactions for a total of $3,654 and the transactions were in my checking account the next day.
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    • Profile picture of the author SallyJo
      Originally Posted by NetEmpire View Post

      Doesn't Gopayment require a credit check?

      I applied to intuit a year or so ago and was denied because of my credit.

      I had a failed mortgage brokerage and lost everything.

      :-(

      I'm not sure of the past, but currently, there is no hold with square unless you are processing transactions without the card being present, ie. you manually enter the card information. It is my understanding that anything above $1,000 in a week that is manually entered (card not present) is subject to a hold for up to 30 days.

      All of my transactions I am swiping the card as that is the best safeguard against chargebacks, fraud and is the lowest cost.

      In 2 weeks I have done 8 transactions for a total of $3,654 and the transactions were in my checking account the next day.
      I don't think they ran a hard pull credit report on me. (I monitor my reports and don't remember ever seeing an inquiry from them)

      I've had various merchant accounts for the last 30 years - and it will be a cold day in hell before I let a credit card processor hold any of my cash for more than 2 days!

      As far as chargebacks go.. that soooo depends on how you conduct your own type of business. For the most part, unless a merchant can prove he/she delivered something and the customer is .... like... 150% wrong (which never happens - get the point)... merchants are pretty much screwed in a chargeback situation - swipe or no swipe.
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  • Profile picture of the author sparklers
    I had a merchant that i signed up that had square hold $8,000 for 30 days for no apparent reason. pretty easy sell...

    android/iphone swipers are a dime dozen now from traditional merchant processors.

    interchange fees, statement fees, fees etc blah blah you can talk all day about fees. the ONLY one that matters is the net effective rate which should be around 1.8%. Square is 2.75% for swipe and like 3.75% for moto!.

    not sure about you but i do enough volume in my business that an extra 1% is a vacation to fiji.

    i've said this before on wf, if you're doing more than 2k / month in cc sales, it will behoove you to consider more traditional merchant accounts.

    i haven't had many issues boarding offline consultants...
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    • Profile picture of the author RickDuris
      Originally Posted by sparklers View Post

      I had a merchant that i signed up that had square hold $8,000 for 30 days for no apparent reason. pretty easy sell...

      android/iphone swipers are a dime dozen now from traditional merchant processors.

      interchange fees, statement fees, fees etc blah blah you can talk all day about fees. the ONLY one that matters is the net effective rate which should be around 1.8%. Square is 2.75% for swipe and like 3.75% for moto!.

      not sure about you but i do enough volume in my business that an extra 1% is a vacation to fiji.

      i've said this before on wf, if you're doing more than 2k / month in cc sales, it will behoove you to consider more traditional merchant accounts.

      i haven't had many issues boarding offline consultants...
      Not having to sign a contract, not having to have a "reserve", not having a credit check is worth a lot. 1% is not bad at all.

      Especially when it's offset by higher revenues.

      - Rick Duris
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      • Profile picture of the author sparklers
        Originally Posted by RickDuris View Post

        Not having to sign a contract, not having to have a "reserve", not having a credit check is worth a lot. 1% is not bad at all.

        Especially when it's offset by higher revenues.

        - Rick Duris

        i dont do contracts either. no "reserves" either however you do need good credit, offliners will need excellent credit and bank statements showing income, which if they provide good legit service shouldn't be a problem.

        i wont sign just anyone...

        lol just saw your edits.

        to quote pac, "i aint mad atcha"

        square is a great product. do i have a competing product? sure do.

        like i said, i've done the research, it's up to the merchant, if they are making more than 2k per month, then it would be smart to consider a traditional merchant account.

        that advice, you can pass on to your clients and that will give you some credibility for closing a merchant account.

        also, does square do referral affiliates? i do
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  • Profile picture of the author NetEmpire
    Sparklers, so you sell merchant accounts?

    ;-)
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    • Profile picture of the author sparklers
      Originally Posted by NetEmpire View Post

      Sparklers, so you sell merchant accounts?

      ;-)
      Yup, i have an online store that is doing ok so i have alot of "free" time.

      So yeah, and I'm always willing to do referrals and jv's...

      I've got 6 accounts I'm about to board right now, i'm literally staring at them right now at my little desk

      I've got access to 6 different processors...
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      • Profile picture of the author NetEmpire
        Originally Posted by sparklers View Post

        Yup, i have an online store that is doing ok so i have alot of "free" time.

        So yeah, and I'm always willing to do referrals and jv's...

        I've got 6 accounts I'm about to board right now, i'm literally staring at them right now at my little desk

        I've got access to 6 different processors...
        Sounds like you've got a nice business going there.

        I know the merchant services business has changed quite a bit.

        Years ago, one of my neighbors was making a nice recurring income from all of the merchants he had signed up and was spending most of his days on the golf course, but when Costco began offering 1.9% merchant accounts with Novis I believe, I noticed he began working late every night.

        I have a lot of respect for those of you that can sell a service that is perceived as a commodity and clients tend to go for the lowest cost.
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  • Profile picture of the author theemperor
    Shame this sort of thing is not available in Australia.

    However in OZ you can pay about $350/year for an eWay account, then just pay the card processing fees and take payments offline by filling in the card details on their web portal. Then you also get the online credit card processing for your site as well so you can have a very professional experience online (no Paypal!).

    I think $350 a year is cheap, and considering you will be taking $50000+ a year in sales as an offliner the majority of the cost is in those percentage fees anyway.

    So in OZ I have no choice, in the US it may be worth considering other processors even if they charge recurring fees and look at the overall benefits, not just one specific feature to swipe using your iPhone.
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    • Profile picture of the author krzysiek
      Originally Posted by theemperor View Post

      Shame this sort of thing is not available in Australia.

      However in OZ you can pay about $350/year for an eWay account, then just pay the card processing fees and take payments offline by filling in the card details on their web portal. Then you also get the online credit card processing for your site as well so you can have a very professional experience online (no Paypal!).

      I think $350 a year is cheap, and considering you will be taking $50000+ a year in sales as an offliner the majority of the cost is in those percentage fees anyway.

      So in OZ I have no choice, in the US it may be worth considering other processors even if they charge recurring fees and look at the overall benefits, not just one specific feature to swipe using your iPhone.
      On top of that $350 a year that you pay eWay, you have to first have a merchant account with an existing bank, like with the Commonwealth, Westpac, NAB etc.

      eWay only integrates with your existing merchant account with one of the banks. So you pay eWay but at the same time you are paying your bank a monthly fee for their services + a fixed cost + a percentage of the transaction value.

      I instead did some research and wiped eWay out of the equation. I just went with NAB Transact, I can log on to my portal and process a credit card automatically in their system. No need for eWay.

      NAB is also the only bank out of the main 4 or 5 that allows credit card recurring billings. I log on to the portal, set up the recurring cycle and click 'process' and it will automatically bill it for me every month. This is especially useful if your business is recurring based (which mine is).

      No other merchants allow this functionality. You have to do it manually or upload a batch file. Can you imagine if you had 50 clients and they were all billed on different days? It would be a headache keeping up - NAB does it all for you.
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  • Profile picture of the author NetEmpire
    I would imagine this would be great for most offliners while they build their client business up.

    I think it has given me more confidence when I close too, as before, I felt awkward having to take a check or cash only.

    Now I feel a bit more professional.
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  • Profile picture of the author NewParadigm
    All those millions of part time garage salers, ebayers, craigslisters would go crazy for this.
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  • Profile picture of the author criniit
    I use square when I am on sales calls, I also have the quickbooks virtual terminal for being able to process CC's I have on file every month.

    Love square, never had a problem with them and a lot of small businesses would rather pay by CC than check anyway.
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  • Profile picture of the author Ramzy
    Or you can get a wireless terminal. Any actual business can qualify for a mercant processor
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  • Profile picture of the author rugman
    Couldn't get the swiper thingy to work on my droid - had to do a manual key in so they charge more $. Ordered a new one but haven't tried it yet.
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  • Profile picture of the author NetEmpire
    I just attended a seminar today and one of the speakers, at the back of the room, all of their "helpers" were using iPads with the Square card readers.

    And I ordered a sandwich from a kiosk and the guy was also using an iPad with Square.

    The more I look around, the more I am seeing these mobile readers.

    Before a few weeks ago, I'd never even heard of them!
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  • Profile picture of the author link82
    Can you set it up with Square so that it can pull monthly recurring fees? Sorry, haven't ever tried it before.
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    • Profile picture of the author NetEmpire
      Originally Posted by link82 View Post

      Can you set it up with Square so that it can pull monthly recurring fees? Sorry, haven't ever tried it before.
      I inquired to Square about recurring and their suggestion was to manually process recurring payments, which is fine if you only have a handful of clients, but there is a higher fee for manual and funds entered manually above $1,000 per week CAN be subject to a hold of UP TO 30 days.

      That would suck.

      I did see a Square rep at a home business and franchise fair over the weekend and he said they will be introducing a recurring option by the summer, but he had no other details.
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  • Profile picture of the author aitvaras
    That's not a bad rate at all. I'm signing up.
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  • Profile picture of the author NewParadigm
    What are the various sources that offer recurring CC billing? The mobile payment gadgets are great for setup fees but would want to set up auto recurring billing for monthly charges.
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    • Profile picture of the author MarlboroMonkey
      What I planned on doing was using something like Square for the upfront setup fee, and then later send the recurring invoice via freshbooks. Sucks they'd have to do it online though which can be a problem for some clients.

      Only alternative I can think of is the old standby, have them write a check and you set it up with your bank to be recurring. Haven't done that one myself yet...
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  • Profile picture of the author NewParadigm
    obama campaign is rolling out square to all campaign staff. Like he needs more than a billion for re-election? sheesh.
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  • Profile picture of the author greggorio28
    Yupp, Square rocks
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    • Profile picture of the author stevesbernard
      Yup , that's really a very nice point of discussion , we can now say that the Paper money is now replaced by the Plastic money , Credit Cards had become the very useful and important in term of safety and portability .
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  • Profile picture of the author sparklers
    recurring billing is easy with my free virtual terminals. way cheaper than Square. lol 3.75% for keyed entry!
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  • Profile picture of the author Jay Rhome
    Squareup only works in the US for now.

    Wouldn't it be simple to use a Paypal merchant account? You can take CC online without the need for a PayPal accout (that even works with the free service), or with the paid +/- $35 monthly account, we can take CC over the phone, in person, etc and enter it in our PayPal account later on. Sure swiping the card is better and has that "wow" factor, but PayPal can do the trick, no?
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  • Profile picture of the author Seth Bias
    Just watch out with Square if you do a lot of orders in there TOS you must be present with the client... So no over the phone processes with people across the country or they will freeze your account. Just letting everyone know because a buddy of mine had his account frozen because he was taking orders across the country and had no proof of being with the customer at the time of sale.
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  • Profile picture of the author Jerry Williamson
    This is like one of the best things to happen for those of us who have "back of the room sales." I haven't started using this yet, but a buddy of mine who is an author says it has greatly increased his book sales.
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  • Profile picture of the author TrishOleary
    I have been using Square up for quite awhile now for my offline clients and I freaking LOVE it!!
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  • Profile picture of the author freeforme77
    Hi All

    Sparklers

    I was just inquiring if I could use your virtual terminal in the UK England where I am from. All transactions would be from UK customers, I have just started my marketing business. I do not have a merchant account at this time.

    Look forward to your response
    Mat
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  • Profile picture of the author sniger
    square, the best
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