RE: Intuit and Square

[bobbin]

I presently don't accept credit cards.  But the lovely woman who cuts my hair every 5 wks.  recently started using Square to accept credit card payments using her cell phone.  OK, so dummy me instantly wonders if I could do the same thing on my (Windows 7) laptop?  I did a few searches but came up empty handed (crummy "searcher"). 

Information eagerly awaited.  I'm nowhere near ready to "pull the trigger" but I do see the importance of CCs and the fact that the sales are basically guaranteed... checks are not!

[sofadoc]

My wife paid for something at a flea market today to a guy that used a cell phone gadget to accept credit/debit cards.
He uses it because he's in a big open flea market with no available phone lines to hook a terminal up to.  Typical merchant rates apply, with a monthly minimum of $25.
The one downside that he mentioned was that in a big flea market, hundreds of vendors are processing all at the same time. The signal goes to one main tower, so sometimes the processing can bog down.
So from what I understand, the only advantage to using such a gadget would be mobility.
I don't know if you can use one with a laptop.
I'm assuming that it would require a cell phone with a data plan.
When I'm delivering a job, I call them first and ask how they'll be paying. If by credit/debit card, I get their info over the phone, and process the sale before I leave the shop.
It's true that checks can be risky, but having said that, I've never been given a bad check. When a customer asks me whether I'd rather them pay by check or credit card, I opt for check (no mercant fees).
And credit card payments don't post into your bank account for 2-3 days. Since 90% of my customers write me a check on a local bank, I cash them on the way home. I have free checking accounts at all the local banks, so cashing them is no problem.
The main reasons that I accept credit/debit cards, is because many customers simply don't carry a checkbook anymore (just a debit card).
And with the credit option, the customer isn't as apt to dicker about price.

[kodydog]

I'm sure there are plenty of people on this forum who take credit cards. And at one time I did too. Credit cards can bring you extra business from customers who want to buy now and pay later. But the interest rate kills me.

I try to live debt free so why would I encourage someone else to spend money they don't have.

With me and accepting checks, I'm in their house, I know where they live, and if it bounces I can track them down.

I've only been burned once with a check and the bank made it good.

[lc]

I don't do debit or credit cards either ., I haven't had a bad cheque yet .(.yeah we spell that word check differently we're an odd bunch ha ha

I look at it this way ., when someone is getting a sofa set done they've had it in the plannings to do so .
They are ready for that cost unlike an on the whim expenditure.
I don't want to get stuck with their silly fees with the cards and I am getting checks and cash no problem so I won't change until I start to notice a problem rising

[sofadoc]

I agree with lc that upholstery is NOT an impulse buy. People plan for it, and save their money up before they call me.
Most of my customers that use the credit option are only doing it for the reward points. They pay the bill in full at the end of the month. If they were simply buying on credit because they couldn't otherwise afford it, they would more likely just buy new. I doubt that any of my customers are really taking on extra debt. I can't remember any "working stiff" customers using the credit option at my shop.
Also, many small to medium sized local businesses prefer to pay me with a company credit card. I get paid on the spot. If I have to wait for a check from the "head office", it could take 45 days or more.
Decorators like to manage their cashflow by plunking down plastic to pay me and their other vendors while waiting for payment from their customer.

So in conclusion.....credit cards.....I don't use them.....but I sure take them!

[MinUph]

Many people use credit cards only to rack up miles, points whatever. Pay them off each month and travel for free once in awhile. This little gadget intrigues me also. I've seen the add online. It states no monthly fees, only 2.something transaction fee.

[bobbin]

Thanks for the thoughts.  I love my credit cards.  I use them and then pay one or two bills at the end of the month.  I don't carry a balance and am what CC companies refer to as a "dead beat". 

The woman referenced above says she pays 2.75% as a transaction fee, there is no charge any "machinery", no paper supplies, etc..   My thoughts ran along the line Sofa. mentioned, an easy way for a designer to pay for work I do for them. 

Clearly, more research will be required! 

[sofadoc]

My merchant fee varies, depending on my average CC sale for the month.
For example, If I only had one $10 sale all month, my fee would be 7.68%.
But if I only had one sale of $1000, my fee would be 2.25%.
Debit cards are a flat rate of 0.65 each.
I've been accepting CC's since the early 90's. In all that time, I've never even once had to tell a customer that their card had been denied. I think that the demographic that abuses credit cards is not the same demo that has furniture recovered.

This is the CC processing company that I use. They have a wireless handheld device 4th from the top:
http://www.innovativemerchantsolutions.com/services_products/equip_software/terminals.php

[Mike]

I used to take credit I think I had cardservice international. I received a ports or terminal it was ki da large about 4"x10" and 3" thick. It worked like a cell phone  and had a. Jolt in printer and spit out a receipt to be signed.   Not any
Ore though most all my clientele are retired and have the expendable money  me I don't have  cards I used to and I was alway paying the minimum. Buying furniture when I just got married. Racking up the bill.

[regalman190]

My wife is a fused glass artist and has been using Square to accept credit cards on her iphone. Works great. So, I started using it in my canvas business. I use mine on my ipad. If there is no wireless, I take the information down and run it manually later. The rate is OK, but there are no equipment fees, monthly fees or required contracts. You pay only when you use it. They also give you the swipe device free and the money is in my account within 48-hours.

[MinUph]

Goo dinfo Regalman. Thanks

[bobbin]

It all seems to be Apple based.  And geared toward "smart phones". 

Seems my next tech. move will be to a phone in that venue.  I was hoping for something that would work with my laptop, but if it ain't meant to be that's how it'll be!

[stitcher_guy]

I've never taken credit cards in the 11 years I've been open, but in the last couple years I"ve gotten more inquiries if we handle them. My shop is three miles out of town, and I require a deposit from customers to schedule their repairs. I have to make them come back or mail a check to order material, and I take a risk scheduling without a deposit if there is no material to purchase (can leave a dead space in the schedule if they are a no-show).

I have looked into Square and Intuit. I am more inclined to go with Intuit because we use QuickBooks for our accounting, and it would be a seamless flow into the accounting for updates. The per-transaction fee is about the same (2.7% vs. 2.75%), and if I ended up doing a lot of business with credit cards, with Intuit, you can opt for a 1.6% (about that) with a $12/month fee. The reader that plugs into your smart phone (it has all the major styles of smart phone as options) seems heftier and stronger with the Intuit service.

My only up-front cost would be purchasing a smart phone (I'm still in the stone-age and don't have one), but that is cheaper than buying an in-store card reader. Doing so would require an extra $30/month data fee on my cell bill, so I guess that would in essence be the monthly service fee. Other than the credit card option, I really have no need for a smart phone.

I was talking to the Exec for the Automotive Parts and Service Association here in Illinois about credit cards. She said the contract with the credit card company that solicits members is about to run out, and the association will likely not be renewing their contract because the smart-phone method is cheaper for their members to use.

Now I just have to convince my wife that we need to take credit cards.   

[MinUph]

I just sent for the Squareup scanner. Looked into Intuit and they don't support my Droid Razon yet. So Im gonna give Squareup a try.

[Mike]

my i phone is a 3g running 5.1 if it worked how would you  give the custromer a reciet of paymeny and what about a singed copy for you?