Submitted by Jason on 1/14/00. ( ) 206.150.106.51
I've been looking for information on credit card machines for my business. So far I've been unable to find any companies that specialize in this. Anyone out there currently using one? If so, how do I get going and what is the cost of owning one? Also, does this seem to attract more business? Thanks for any help!
This response submitted by Mick on 1/14/00. ( MicD63@aol.com ) 152.163.189.102
Jason,
Contact the bank where you have your business accounts and they can set you up with what you need. Most likely what you will want to start with is a paper impression system, (you take imprints of the customers cards with carbonless slips). Unless the volume of your sales dictates, a swipe terminal will prove really costly. Also it may be news to you, but the credit card company does charge YOU the merchant for the privilege of offering there service to your customers, in addition to charging the customers interest. I've accepted plastic for a good number of years now, so it's difficult to say how much in the way of extra sales this privilege brings. My gut feeling is, not much. Some customers may be prone to spending a little more when using plastic, but I can't say that I've ever had a customer say that he came to me because I accepted the cards. I think that customers using cards tend to pick up their completed work a little quicker. It still hurts when you read the fees deducted for their service on your monthly bank statement though.One last thing I would suggest is to raise your prices by 10% before you start accepting plastic.In my home state of NY, and I'm sure many others as well,we are not permitted to add on an extra surcharge to cover credit card fees, so make sure you cover them before the sale.
This response submitted by Mike on 1/14/00. ( PelcArts@ifriendly.com ) 208.230.117.52
Jason,
I have accepted credit cards for quite a few years now, and it is an important part of our business.
Because I also market wildlife reference materials (usually having a booth at major taxidermy shows), and ship mounts throughout the U.S. and Canada, it has been a convience for both myself and our clients.
Their is a cost, both monthly fees(if you do not meet the established minimum monthly deposit) as well as transaction fees. There will also be a setup fee,depending on the equipement you use to accept cards. There is a selection of different types of machines.
To begin, contact the local bank you do business through. They should have a department specifically for card transaction setup). They then can give you all the information needed setup card transactions if you so choose.
Mike
Mike
This response submitted by Shawn on 1/14/00. ( ) 216.166.186.161
Jason,
I use Novus services. Their fees are quite a bit less than what my bank would have charged. Accepting credit cards was a wise move on my part. I find it's also easier to add-on when a customer uses plastic (alterations, open mouths, fancy back boards etc.)Give them a call. They are real easy to work with and make the whole set up process virtually painless. Their number is 1-800-347-2000. Good luck.
Shawn
This response submitted by S Ostertag on 1/14/00. ( ) 12.14.225.83
I took them for a couple of years but my customers didn't use them enough to justify my costs. If the Credit Card companies were to get a little less greedy I would offer the service again, but until then I won't. I have suggested to customers that preferred to use them to utilize the ATM at the bank a 1/2 block from me, most have gone this route.
This response submitted by Bill on 1/14/00. ( yoxtax@aol.com ) 205.188.209.41
Ive never used it, its still all original. Its from a national company. If you are interested in it, drop me an email. I have all the info.
This response submitted by Amy on 1/15/00. ( ) 205.188.209.41
We accepted credit cards several years ago and quit because of the fees. Started again last year -- had several customers ask for it -- and EFS had lower percentage fees. You have to buy the part you put the card thru -- $25. Then they charge you $21/month and a small percentage based on average ticket price. I can't remember the exact figure, but I checked with several banks at the time, and they were much cheaper. In addition, my bank wanted me to fill out a huge form and bring in pictures of the shop -- they financed the shop building adn still wanted pictures! EFS was willing to come to the shop at myconvenience and handle paperwork. Very easy to work with. Also you can shut the service off for a month or more if you want (vacation, slow season etc) and then they only charge $7/month. Banks wouldn't allow that. 1-800- 238-7675. Very convenient for shipping jobs.