Credit card ?'s

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I too get very few requests for CC's. But to me that is not the only part of the equation. If you could advertise that you take MC/ Visa how many more calls would you get based on that fact. I know a lot of people who use CC's for just about everything so they bump up their points but pay it all off at the end of the month.

That being said I do not take them. I considered it on several occaisions but kept running into the same roadblocks.

First, every processing company I've spoken with (or heard about from other merchants) has felt like a scam. Every one of them promises you the lowest rates and how they are the good guys and the other people are out to rip you off.

Second, I've not yet been able to get a straight answer on the equipment. Buying it is best. Unless leasing it is. I've heard so many arguements each way it makes think that there is no good option. Just different levels of getting hosed.

Third, I don't have an office staff that is waiting for a call from me to process the card. I know there is a wireless option for that but I am too often in the hills where the coverage can go from perfect to non existent in the matter of a few hundred yards. I can't base my business on "I'll take a card if I can coverage but if I can't than you need an alternate form of payment".

So I'm sure that I'm missing some business by not being able to advertise/ accept CCs, but I'm not losing any sleep over it either.
 

Article 90.1

Senior Member
Consumers will spend more if given the ability to purchase using CC's. CC's can be great for improving a businesses cash flow.

However, I do struggle with handing over 3% of revenue (not profit) to some other entity right off the top. But if it generates more sales, then it might be worth it. No two EC companies are the same.
 

petersonra

Senior Member
Location
Northern illinois
Occupation
engineer
A fair number of companies use CCs to pay for small bills because it reduces their transaction costs. Its not unusual for a PO to cost $100 to generate. That's kind of a drag on paying for a service call that cost $300.

We don't get a whole lot of requests for it, and don't offer it, but I think for service companies its a good idea.

A lot of small companies balk at the 3% but never figure in that you get paid now, you don't have to worry about the check clearing, and the transaction costs are reduced. Many small businesses just are not aware that it costs them money to accept cash and/or checks.
 

satcom

Senior Member
A fair number of companies use CCs to pay for small bills because it reduces their transaction costs. Its not unusual for a PO to cost $100 to generate. That's kind of a drag on paying for a service call that cost $300.

We don't get a whole lot of requests for it, and don't offer it, but I think for service companies its a good idea.

A lot of small companies balk at the 3% but never figure in that you get paid now, you don't have to worry about the check clearing, and the transaction costs are reduced. Many small businesses just are not aware that it costs them money to accept cash and/or checks.
You have that right the 3% is a deal, when you consider the cost of dealing with checks and cash accounts.
 
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