Posted: 3/29/2016 11:06:39 PM EDT
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Anyone use Square for thier credit card services?
Set up an account tonight in preparation for festival season. (I sell hand carved wooden spoons and custom restored vintage axes) Have seen it more and more around for small businesses. 2.75% on all card purchases. Can generate online invoices for payment. Has some cool tracking reports. Anyone use it? Hints, tips, or things to watch for? |
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I used it and liked it, but ended up having to drop it, because I was using it for my firearms business. For a non-firearms business it's fine.
If you'd rather do business with firearms-friendly companies, check out something like Payment Alliances International - they have smartphone readers and apps, too. |
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Quoted:
2.75% on all card purchases. Can generate online invoices for payment. Has some cool tracking reports. That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. |
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Quoted:
we had used it for a firearms related business. Then they cancelled our account, because we dealt with firearms. F*** that company. For this reason I went with EMS Plus. No monthly nut, just the swipe fee, which averaged to just under 3% across all types of cards for last year's receipts. |
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Quoted:
That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. Quoted:
Quoted:
2.75% on all card purchases. Can generate online invoices for payment. Has some cool tracking reports. That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. Wrong, Square is 2.75% per swipe regardless of the card. |
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Quoted:
Wrong, Square is 2.75% per swipe regardless of the card. Quoted:
Quoted:
Quoted:
2.75% on all card purchases. Can generate online invoices for payment. Has some cool tracking reports. That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. Wrong, Square is 2.75% per swipe regardless of the card. We used it for a year and thats how it was for us. Stopped accepting credit cards a year ago.. It was flat % with a transaction fee back then. Very easy. Think i paid 3% plus 15 cents per back then. |
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Quoted:
That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. Quoted:
Quoted:
2.75% on all card purchases. Can generate online invoices for payment. Has some cool tracking reports. That's the big lie nobody will tell you about. The 2.75% is based on a variance of users, and never is that low. Why? Because almost all credit cards are tied to some point system or cash back offering, miles, etc. if I have a visa black card and you have a visa debit card, your debit card will cost the merchant about 1.50% on a signature based transaction. If I buy the exact same item using my visa black card, it will cost the merchant about 7%. So the cards with perks, Miles, etc., can cost you 4-7% of you sale plus the per transaction fee (usually $.15-$.35 per transaction), along with the usual monthly statement fee of anywhere from $15-35 per month. Let's not for get charge back fees if any, or dispute fees, even if you are right. The credit card fees can vary depending on the type of business you do also. The card company (network) has what they consider risk tied to you fee structure also. Read the fine print of your merchant account. Not true with Square. |