Wendell mentioned Square Up a couple weeks ago in a thread about accepting credit cards. We signed up, and I have to say, it's an excellent service (but you have to have a smart phone). It works just as advertised, and you can take payment over the phone by getting the CC#, expiration date, security code, and billing zip.
There are no fees, accepts Visa, Mastercard, AmEx, and Discover ... they even send you the swipe reader for free (although we haven't used it yet). It's 2.75% for "swipe" transactions and 3.5% for manually entered transactions (pay by phone type), which is comparible to PayPal, which is what he had been using. Once it's set-up, the money goes right into your business account.
Anyway, I highly recommend it if you have a smart phone and want an easy way to accept credit cards.
I don't want to this sound like a commercial, but it's been great for my little solo operation.
www.squareup.com
Wow, really thought this was just a spam message until I looked at your post history.
Nothing personal, but I think using the term "smart phone" is over simplistic. I use a Blackberry and am using it to post this, but I don't think that "Square Up" is available for them. Because I'd LOVE to use it!!
Just my 0.04'....
Carl
No fees? what is the 2.5 and 3.5 percent charge?
I have resisted offering a CC machine due to the percentage fees. I looked into this one as well, and may just use it. I just worry that ALL my clients will pay with cards, then I basically lose 2.75% of all billings. It would be nice to offer it though.
A percentage of the transaction.
OK, no monthly fees ... most CC transaction providers charge a monthly fee whether you use it or not. I get requests to pay by CC maybe 2 or 3 times a month, so it doesn't make sense for me to buy a terminal, pay a monthly fee, and pay a percentage on top of that.
I have a smart cell phone with an on and off switch, usually off unless I need to make a call, voice messages often are removed by the provider because I haven't checked. Not a great loss, those who have my number, know me and how I use my phone. Got to hating phones when I was using mobil phones, when things were the most hectic or busy and you need 3 hands, the damned thing would start honking the horn, learned to turn it off to when things got stormy.
jud
You're right. I checked and it's Apple and Android only.
Yeah, it does look like spam ... sorry ... but since I originally heard about this through a post by Wendell, I thought I'd mention here that I got it and it works great. (I don't think Wendell gets a cut, either).
Andy,
I don't like paying a percentage to "get paid" either, but I don't get requests too often, and I think it gives a more "professional" appearance, but beleive me, I don't push CC payment. It's just there if they ask.
Plus, once I got this, I called this lady that's been d!cking me around on getting paid for two months, and got her to give me her CC info over the phone. So that made it worth it.
I add 5% to credit card charges to cover the cost. It's stated on the invoice so that there are no surprises later.
>(I don't think Wendell gets a cut, either).
I wish he did!! 😛
ontarget... do you get much guff for that? it sounds very "old timey"...
Actually, it's illegal (Federal law) and a violation of Visa/MC/AmEx terms of service to charge a "surcharge" to use a credit card. You can, however, offer a "discount for cash", which is how Gas Stations get away with it. I think most gas stations are in violation of this law since they post their "discount" rates on the sign, then charge you more for using a CC, rather than posting their CC rates on the sign, and then giving the discount for cash.
Edit: I take that back, apparently there is no longer a Federal Law against surcharges. The states of CA, CO, CT, FL, KS, MA, ME, NY, OK, and TX have laws against surcharges, according to Bankcard Holders of America. Discover now allows for surcharges in other states, but Visa/MC/AmEx do not.
Don't tell them you have it unless they start acting like they don't want to pay.
I just give bank account details to client
They pay direct debit. No cost to me.
RADU
I see one credit card company offers 5% cash back for every purchase, which seems to be what the merchant charges extra to cover their fee to the credit card company, so the consumer pays the vendor who pays the credit card company, who returns it to the customer as if it were a gift from them.
I don't get much argument, but then I do very little credit card. I always tell them they can get an advance and save the charge. There are a bunch of businesses around here that do it.
I just offer it as an option.
TSR - would that include "surcharging" gas costs? Something that hasn't happened to me yet, but could become an issue soon.
I just give bank account details to client
There's a number of Federal agencies that prefer to pay by credit card if the fees are less than $10,000. I find it common with the Department of Defense when they want to pay me for a seminar plus travel. (That's Army, Navy, Marines, and Air Force.)
Their second choice is direct deposit to my bank account. (Department of Justice likes to do that.)