Phone Accepting Credit Cards
- Thread starter Sam Moore
- Start date
- Status
ceb58
Senior Member
- Location
- Raeford, NC
I looked into it before things got slow. You sign up with with a service to handel the transactions. You pay a % of the charge to them for processing. Some also charge a monthly fee if you do not do over a certian $ amount each month. Your money is not instantly in your account ether. It takes 2 to 3 days for the money to hit your account. If you were to do a transaction on Fri. afternoon the best you can hope for is to see the money on Tue.
dbuckley
Senior Member
- Location
- Canterbury, New Zealand
I've not seen a cellphone that can swipe cards, but there are plenty of credit card machines that work over the cellphone networks rather than using a standard wired phone line. The mostly look like a standard terminal with an antenna sticking out the back.
Given that a terminal is a terminal, there should be no difference between a wired machine and a wireless machine from the perspective of getting paid.
Note these mobile terminals are different to the wireless terminals you use in restaurants to pay the bill at the table; the wireless restaurant terminals are short range and communicate with a base unit somewhere in the restaurant. The cellphone mobile units work anywhere there is cellphone coverage.
Here in New Zealand we're almost a cashless society, so most taxis, market stalls etc have a mobile terminal; they're everywhere.
Given that a terminal is a terminal, there should be no difference between a wired machine and a wireless machine from the perspective of getting paid.
Note these mobile terminals are different to the wireless terminals you use in restaurants to pay the bill at the table; the wireless restaurant terminals are short range and communicate with a base unit somewhere in the restaurant. The cellphone mobile units work anywhere there is cellphone coverage.
Here in New Zealand we're almost a cashless society, so most taxis, market stalls etc have a mobile terminal; they're everywhere.
bradleyelectric
Senior Member
- Location
- forest hill, md
Im set up to key it in with my phone. No terminal. It is a bit cumbersome but I usually only do 1 transaction a month with it so I don't need to pay for a terminal.
ceb58
Senior Member
- Location
- Raeford, NC
Nextel used to make one. Don't know if they still offer it
We use the I Phone with the card reader a lot less then renting or buying a terminal and the turnaround time from trans to money in the bank is 6 to 24 hours and at times in can be in there in an hour, we had to shop for a good merchant service, there are plenty of services out there with rip off fees, so you need to shop with care
Who do you use if I may ask, sounds promising.
goldstar
Senior Member
- Location
- New Jersey
- Occupation
- Electrical Contractor
Doesn't it seem parculiar that the money coming toward you seems to move slower than the money going away from you
goldstar
Senior Member
- Location
- New Jersey
- Occupation
- Electrical Contractor
I used to think that accepting credit cards for payment "on the spot" was a good thing to do until a plumber friend of mine told me that a customer of his owed him about $20K. To rack up his frequent flyer miles his customer paid his balance by credit card. As far as I'm concerned it's not a big deal if I'm paying a 2-4% fee on small service call money. But when you have to pay $400-$800 on big money it starts to hurt.
I used to think that accepting credit cards for payment "on the spot" was a good thing to do until a plumber friend of mine told me that a customer of his owed him about $20K. To rack up his frequent flyer miles his customer paid his balance by credit card. As far as I'm concerned it's not a big deal if I'm paying a 2-4% fee on small service call money. But when you have to pay $400-$800 on big money it starts to hurt.
We will accept a credit card for a service call or small jobs under $500 any contracts over that the customer needs to apply for a consumer credit loan and that allows up to get the money up front
ceb58
Senior Member
- Location
- Raeford, NC
Doesn't it seem parculiar that the money coming toward you seems to move slower than the money going away from you
Kinda like the IRS. If you owe them they want it now. If not then penalties and interest. If they owe you then you get it when you get it.
Wow that was easy. 10 min and I am set up and able to charge and have deposits made in my account. I hear you on the 2.75%, but I think I will offer a 2% credit card fee on amounts over $2500 or something like that.
Thanks, ANYONE with an iphone/ipad that doesn't take cards would love this, NO MONTHLY FEES.
Awesome!!
goldstar
Senior Member
- Location
- New Jersey
- Occupation
- Electrical Contractor
Make sure you read the fine print in your agreement before committing to that.
If you are permitted, make sure you divide the net # you want by 0.98 instead of marking up your # by 2% otherwise you'll lose a dollar on every $2500.
dbuckley
Senior Member
- Location
- Canterbury, New Zealand
It does look a good service, from the founder of Twitter, no less (not that I 'get' Twitter, mind) and more than that, with its no monthly fees, its disruptive to the whole marketplace. Vendors from Wallmart down are going to be asking their providers why they're being charged monthly fees...
Don't forget after they deposit the first $1000 after that they float your money for up to 30 days not a bad deal for free service, once you are established you can ask for better deposit terms
japeters1939
New member
- Location
- San Francisco
He got his money
He got his money
At least he got paid. If the account was over 90 days old then maybe he did the right by paying the big percentages. For contrast a collection agency would take 20-40%.
He got his money
At least he got paid. If the account was over 90 days old then maybe he did the right by paying the big percentages. For contrast a collection agency would take 20-40%.
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