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Thread: acceptance of credit cards

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    Question acceptance of credit cards

    I am starting a new business in the pet industry and have come to a conundrum. I will be doing business via the internet, person to person and also shows. Besides Paypal I would like to offer Visa and Mastercard as payment.
    Doing some due dilligence I have become confused by the many means to take payment. I spoke to my bank who has my business account about the use of their terminal and accounting practices, and have found them to be almost prohibitive in fees and contract sign ups.
    I thought also about using Square but the reviews are horrible. I worry about not being paid in the end.

    So my question is this, do I just suck it up deal with my bank because of its security or not worry about the bad press from companies like Square?

    Your thoughts on this would be greatly appreciated.

    Mark

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    You have LOTS of options when it comes to taking credit cards. It sounds like you should find a company that offers the bolt-on card swipers for your smartphone (so that you can take cards when you're doing business person-to-person) as well as internet and maybe a terminal. If you're doing enough business, start with a well-known company like Authorize.Net that has lots of partners and see what they can offer you for all the different ways you want to take cards. They may know a partner or two who can offer you the different services you want at a much lower cost than most banks.
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    I've been using the Square for taking cards in person with no problems, so I'm curious about the bad press you refer to. But the main reason for my post is simply to point out that you don't necessarily have to go with just one provider to cover all possible ways of taking a card. For Example, you could use a hybrid solution of PayPal for online payments, Square for in-person, and your bank's virtual terminal for phone transactions (just an example). Also, you need to recognize that the costs are highly dependent on the volume of business you do. In other word's, PayPal's or Square's transaction rates might seem high compared to the other providers, but they don't have monthly charges, set-up costs, or equipment fees, so depending on the size of your business you might come out ahead with PayPal and/or Square. You can always try Square and/or PayPal for starters (there is no start-up cost) to see how they work for you, especially if you need to get going right away, as you continue to investigate the alternatives. Finally, if you want to take cards at shows, or other on-the-road/away-from-office situations, the cell phone plug-ins (a la Square) seem to be dominating that market...

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    Mobile card payment solutions like square makes the customer and business transaction experience go by smoother. Using mobile card payments can also help your business operation with bookkeeping and other operation, the only benefit I see with regular card system is the amount of security that is involved compared to mobile card payment. There are various mobile systems available besides square, you should see which ones are constantly updating there security protocol and suit your business best.
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    Thank you all for your comments and suggestions.
    Tallen, to answer your question. I do a lot of research before making a choice in most things I do, and was ready to pull the trigger on Square. I did review search on Square and was shocked by the amount of people who had accounts frozen and assets kept by Square. Much of it had to do with transaction limits, and contractual agreements. I was really surprised that Square was so abrupt in there choice of account closures and holding someones money because of the error. I would have thought Square would be willing to negotiate a new contract to meet the needs of the business. I was also surprise how many class action suites are filed against them along with civil suites for complanies to recoup their income.

    Again I think you all for your input. I will follow your suggestions and perhaps create that hybrid situation that was suggested.

    Mark

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    I was going to suggest Square or PayPal. Both offer the smart phone swipe option. I was terrified of PayPal for the exact same reasons you are afraid of Square. But I have never had a single problem with PayPal. I'm set up to use Square but have not yet used it so I can't speak directly about their service.
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    If you're already using Paypal, they do have some options for businesses that might work for you. We use WebSite Payments Pro for our website and for our trade show sales and it's worked well for us. I'm not impressed with the Paypal Here option, but we've worked around that.

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    Porterswood,

    You also should consider your web site and the integration.
    If you are unsure but need to get the tires on the road. Use Paypal and either grown with it or the change/adding additional payment services will be easy.
    Tho its new i also suggest you look into other payment options. Specifically Bit-coins, Coinbase i recommend for wallet and also their merchant services.
    A referral link (disclaimer I get $5) is here
    https://coinbase.com/?r=5269254b3b05...=referral-link

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    Porterswood,

    You also should consider your web site and the integration.
    If you are unsure but need to get the tires on the road. Use Paypal and either grown with it or the change/adding additional payment services will be easy.
    Tho its new i also suggest you look into other payment options. Specifically Bit-coins, Coinbase i recommend for wallet and also their merchant services.
    A referral link (disclaimer you get $5 for setting up account and I get $5) is here
    https://coinbase.com/?r=5269254b3b05...=referral-link

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    Quote Originally Posted by Porterswood View Post
    I am starting a new business in the pet industry and have come to a conundrum. I will be doing business via the internet, person to person and also shows. Besides Paypal I would like to offer Visa and Mastercard as payment.
    Just wanted to add that Pay Pal is a card processor that allows you to accept all major credit and debit cards. Not sure why people keep thinking that it's only for people who have Pay Pal accounts.

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