Question About payment methods

Dugdug

Dugdug

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Besides cash, do any of you mobile guys offer recipts? invoices?

also, any of you mobile guys use those pay anywhere services with the mobile card readers? there's a few of them. One's called "pay anywhere" and "square"
 
In god we trust but all others pay cash. I have the ability to do receipts if the customer wants but rarely do they ask for one. For my fleet and commercial accounts I do do receipts and accept checks. I dont do credit cards because I dont like losing a percentage and it hasn't been an issue not taking cc.
 
I know one of them only charges a 3% fee per purchase, with no monthy fee or minimum fee. Plus a free card reader and app.. i figure I could pass the cost of the purchase along to the customer should they decide to pay via cc.
 
I have square up for the iPhone. I rarely use it but have it in case. It's around 2% per card swipe. If you don't have the reader and have to punch in the number it's 3%.

As for passing the cost onto your customer it's against the law to do so. You can only offer a cash discount. So I just let my customers know that if they can pay cash I usually give them a $10 discount or so.
 
I use square up love it. I can accept all credit cards its awesome

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Same here for square... I absorb the fee. Usually it's like $4 on a $150 sale. Its more than worth it offer this payment option.
 
[video=youtube_share;5-aAitwm_yo"]Randy Moss Straight Cash Homey - YouTube[/video]
 
I wasnt aware that it was illegal. I know when i lived in california my liquor store would charge me 50 cents extra for debit card purchases under 10 bucks. Good to know. $4 dollars out of 150 isnt bad.

I was thinking of using the "pay anywhere". But everyone seems to like square, does square have any hidden fees?
 
From what I've read, square doesn't have any fees that are hidden. I dont think I've really seen anything negative about it. Just realized that you are creating a paper trail and to pay your taxes. Do you do enough customers to warrant taking cc? Has it been a problem that you dont take them our are you just trying to be more convenient?
 
Square has no monthly fee it is 2.75% with the swiper and 3 something if you put in the number your sell they have a tax option and a tip option as well. Plus they do not charge you more for discover or amex so its great. Emails your clients a receipt and keeps track of your money for you.

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Mobile detail said:
From what I've read, square doesn't have any fees that are hidden. I dont think I've really seen anything negative about it. Just realized that you are creating a paper trail and to pay your taxes. Do you do enough customers to warrant taking cc? Has it been a problem that you dont take them our are you just trying to be more convenient?
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No, I'm just starting out. Just wanna be more convenient
 
I don't currently accept credit cards but it's definitely something I'd take seriously if I was seeing more volume.

People (including myself) like to use their credit card as often as possible for the points / rewards. So that is something to keep in mind.
 
Gurge said:
I don't currently accept credit cards but it's definitely something I'd take seriously if I was seeing more volume.

People (including myself) like to use their credit card as often as possible for the points / rewards. So that is something to keep in mind.
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+1, plus it's so convenient. Having to go to an ATM to get cash for something is an inconvenience for me.
 
I have a Square account and the card reader. I have never used it but have it just in case. I wouldn't charge them the transaction fee, its only 2-3% and that's kind of penny pinching. I don't usually give receipts but I can if they would like one.
 
I use sqaure as well, but instead of charging more for credit cards, I just offer a "cash discount" for those nice enough to pay me in cash. I don't mind taking CC's but cash will always be king.
 
sullysdetailing said:
Square has no monthly fee it is 2.75% with the swiper and 3 something if you put in the number your sell they have a tax option and a tip option as well. Plus they do not charge you more for discover or amex so its great. Emails your clients a receipt and keeps track of your money for you.

Sent from my SAMSUNG-SGH-I997 using Tapatalk
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My daughter works in credit card sales and I asked her about Square and Intuit. She explained there are other cost to the transaction. The 2.75 or 3.00% that Square charges is beside the additional charge from the card issuer such as Visa or MC. Is this how you guys are finding it to be ? She sat down with me and showed me some accounts that had 3% plus a additional 3% which was more then her company charged with a monthly fee and no reader charge. It looked like volume and card rate would be the deciding factor on which way to go. I wasn't going to accept CC or debit cards but the paying public may dictate differently as I start my business.
 
2old2change said:
My daughter works in credit card sales and I asked her about Square and Intuit. She explained there are other cost to the transaction. The 2.75 or 3.00% that Square charges is beside the additional charge from the card issuer such as Visa or MC. Is this how you guys are finding it to be ? She sat down with me and showed me some accounts that had 3% plus a additional 3% which was more then her company charged with a monthly fee and no reader charge. It looked like volume and card rate would be the deciding factor on which way to go. I wasn't going to accept CC or debit cards but the paying public may dictate differently as I start my business.
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That is incorrect from what I have seen. Every transaction I have used Square for, the only money that I dont get in my account if the fee charged by Square. Nothing more has ever been taken.
 
Do you have a way to check the fee against the amount you run. If you simply mulitiply the transaction amount by 2.75% is that the exact amount you are getting charged? Also, can you reconcile (individual transactions) to cross check ? Let me know because she is interested as well. Thanks.
 
2old2change said:
My daughter works in credit card sales and I asked her about Square and Intuit. She explained there are other cost to the transaction. The 2.75 or 3.00% that Square charges is beside the additional charge from the card issuer such as Visa or MC. Is this how you guys are finding it to be ? She sat down with me and showed me some accounts that had 3% plus a additional 3% which was more then her company charged with a monthly fee and no reader charge. It looked like volume and card rate would be the deciding factor on which way to go. I wasn't going to accept CC or debit cards but the paying public may dictate differently as I start my business.
Click to expand...

My understanding is a store that accepts credit cards is charged Percentage by the issuing cc. On top of that, the store has to pay rent on the credit card machine/reader and pay an additional charge per transaction. I know a few years ago amex was charging like 6% and that is why a lot of stores dont accept amex. Now with square from what I've read is they just charge a flat 3% for all transactions on any card but I think there is an additional charge for amex. What I dont understand is why if square is charging only 3% and not charging for the machine, why isn't everyone using it? Like I said, I've not come across anything negative about it..
 
I talked to my dad about it a little. The biggest reason I hesitate to use it is because of the paper trail. I'm in college and I started my detailing business last year. I don't do enough business to justify (in my mind at least) the minimum taxes, registration, ect. to officialize my business. I just don't ever want the IRS coming down on my. I know its pretty unlikely. I will use it if someone wants, but most people don't have a problem paying cash.
 
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