PDA

View Full Version : Credit Card Machines


LawnMedic
02-25-2010, 02:47 PM
Has anyone tried pay pals virtual machine? Are the rates comparable to some others? We have dealt with some shady companies in the past but I like pay pals reputation.

XtreemGreen
02-25-2010, 07:13 PM
I may try it..

Save money: There's no need to invest in expensive equipment. Pay the same, low per-transaction price for any major debit and credit card (Visa, MasterCard, Switch/Solo, Visa Delta, Visa Electron)

Pricing
•$30 monthly fee
•2.4% - 3.1% + $0.30 USD per transaction

Steve
02-26-2010, 11:51 AM
What is their virtual machine?

SECTLANDSCAPING
12-20-2011, 12:11 AM
have you tried square? same rates no monthly fee. Just connect it to a smart phone.

thegroundscrew
12-20-2011, 12:17 AM
I also use square just go to www.squareup.com to check it out. They will send you the card scanner for free and it connects right to your smart phone. I use it for my iphone 4s and it works perfectly. They charge only 2.75% per transaction which is equal if not cheaper than the other ones. It is accessible and quite convenient and easy to carry around.

hawthornelawncare
12-20-2011, 01:42 AM
I also use square just go to www.squareup.com to check it out. They will send you the card scanner for free and it connects right to your smart phone. I use it for my iphone 4s and it works perfectly. They charge only 2.75% per transaction which is equal if not cheaper than the other ones. It is accessible and quite convenient and easy to carry around.

hey there how long you been using square? whats your experiance with it

SECTLANDSCAPING
12-20-2011, 01:46 AM
I used it for about 6 months. I havent had any issues. Its convenient when the customer says I have to drive to the bank. Its a conversation starter too. After you swipe the card it will email the receipt to them.

hawthornelawncare
12-20-2011, 04:46 AM
I used it for about 6 months. I havent had any issues. Its convenient when the customer says I have to drive to the bank. Its a conversation starter too. After you swipe the card it will email the receipt to them.

do they charge you any min monthly? or is the only fee they charge you the fee they advertise?

krzys666
12-20-2011, 07:20 AM
do not use paypal.
They have become a real pain for new sellers.
i used paypal's virtual terminal before.
it was a good service but it is very easy for the client to screw you over. if they file a complaint with paypal they almost always get refunded no matter what.
the other thing, if you start using paypal now you need to wait 21 days before they release your money to your account. it is there hold to make sure the client gets what they want and has time to file a dispute. after you wait 21 days for the money to be released by paypal into your account it is anther 4 days until you receive it in your bank acount.
please do not keep any money in the account because they can suspend you for a complaint or just have too many sales without a "history" of sales.

SECTLANDSCAPING
12-20-2011, 01:38 PM
do they charge you any min monthly? or is the only fee they charge you the fee they advertise?

No extra fees, just the per transaction fee which is low. I never had a charge back so Im not sure how they handle that.

TiedemanLLC
12-20-2011, 02:53 PM
Look into Intuit too.

If you don't do that many transaction per month they actually waive the monthly service fee.

thegroundscrew
12-20-2011, 04:39 PM
One of the most appealing aspects of Square is that, unlike nearly every other processor, Square credit card processing has only one fee: the processing fee of a transaction. There are no other fees that are typical of credit card processing, such as activation fees, monthly fees, gateway fees, downgrade fees and early termination fees. Square has no additional monthly fees whatsoever and no monthly minimum processing fees.

No matter the card type, merchants pay a single flat rate of 2.75% for swiped transactions, or 3.15% + $0.15 per typed transaction (as of this review). Although the transaction rate is higher than the “Qualified” rate of most traditional merchant accounts, it is comparable to the “Mid-Qualified” and “Non-Qualified” downgrade surcharges that about 80% of most transactions experience in a traditional merchant account setup. The rate is, however, much more expensive than the Interchange Pass-through rate pricing model. Given that most merchants do not have Interchange Pass-through, the fact that Square has no monthly fees and no time commitment makes it one of the most affordable credit processing options in the market. Nevertheless, Square does have some drawbacks.

Square does not verify the credit history of its customers (a benefit for some) so it sets a few limitations to avoid losses to fraud. There is no limit to the amount of money that can be accepted per transaction or per month, but Square will hold card-not-present sales for 30 days if more than $1000 is charged within any rolling seven day period. Therefore, If a merchant types the credit card information into the phone instead of swiping it through the card reader, the merchant will have a rolling seven day processing “limit” of $1000 that allows him/her to keep accepting transactions once it has been reached. Keep in mind that the limit only applies to transactions that are typed into the phone. Typed-in charges under the $1000 limit, and all swiped transactions, are electronically deposited into the merchant’s linked checking account usually within 24 business hours.

For merchants that regularly process more than $1000 in seven days, Square provides two options to circumvent the deposit hold. With the first, Square periodically reviews accounts and will raise the limit automatically for merchants that regularly process over the $1000 in card-not-present sales, have few refunds, and very few to no chargebacks. With the second option, merchants can request a form to provide more information about their business in order to raise the deposit limit. This form can be requested by emailing Square.