CREDIT CARD - READERS - FOR SMART PHONE

[BLUEKNIGHT911]

Is anyone familiar with them .... ie how they work , and what might be the best TYPE of plan to look at .... this would be from a business perspective ...... PM me , Thanks ..... Mike :thumbup:

 

[r1100rider]

Is anyone familiar with them .... ie how they work , and what might be the best TYPE of plan to look at .... this would be from a business perspective ...... PM me , Thanks ..... Mike :thumbup:

the square it will work with a smart phone as long as you have service and the discount rate is almost as good as merchants get

 

[SpyderAnn01]

We use the Square Reader also. You get the reader, used to be for free but now with the chip cards you have to buy it, link it to your bank account and you're in business. The fee is 2.75% which is pretty good. The money is deposited into your account quickly too. I preferred the old reader where you slid the card but with the chip technology the merchant is the one on the hook for fraud, so it is a good idea to use the chip card reader. The thing I don't like about it is you have to charge the reader which means carrying another charging cord and remembering to charge it.

 

[BLUEKNIGHT911]

card reader

We use the Square Reader also. You get the reader, used to be for free but now with the chip cards you have to buy it, link it to your bank account and you're in business. The fee is 2.75% which is pretty good. The money is deposited into your account quickly too. I preferred the old reader where you slid the card but with the chip technology the merchant is the one on the hook for fraud, so it is a good idea to use the chip card reader. The thing I don't like about it is you have to charge the reader which means carrying another charging cord and remembering to charge it.

.. ..Thanks for this info..... Is it possible to link into PayPal rather than your Bank ???..... Mike :thumbup:

 

[PrairieSpyder]

Now that the iPhone doesn't have a plug for the old Square, how do you connect it to your phone? Bluetooth partnering?

 

[SpyderAnn01]

Now that the iPhone doesn't have a plug for the old Square, how do you connect it to your phone? Bluetooth partnering?

The new reader is bluetooth. If someone doesn't have a chip card I have to use Joe's older IPhone. There is an adapter that you can use though.

Mike, I don't know about linking to PayPal.

 

[SpyderAnn01]

• Square requires a transactional bank account (an account that allows for both deposits and withdrawals) to support refunds or chargebacks. Which means Prepaid cards or online-only accounts (such as PayPal) aren’t supported at this time.

www.squareup.com

 

[trikermutha]

Do forget about uncle Sam . His hand is always out too. :thumbup:

https://www.paypal.com/us/webapps/mpp/credit-card-reader

 

[jcthorne]

We use paypal and the credit card reader they provided. Funds go to my paypal account and I can accept all major cards and paypal payments. The rate is a bit higher but there is no monthly fee or fee to transfer the funds to my bank account.

It all depends on how much CC business you do.

 

[BLUEKNIGHT911]

PAYPAL

We use paypal and the credit card reader they provided. Funds go to my paypal account and I can accept all major cards and paypal payments. The rate is a bit higher but there is no monthly fee or fee to transfer the funds to my bank account.

It all depends on how much CC business you do.

.. .JC, do you know what the difference is .....ie, one rate vs. what's normal ( or widespread ) ..... Thanks .... Mike :thumbup:

 

[jcthorne]

.. .JC, do you know what the difference is .....ie, one rate vs. what's normal ( or widespread ) ..... Thanks .... Mike :thumbup:

When I was looking into it, all of the major players were charging between 2.5 and 3.2 % Paypal varies depending on the type of transaction. Manual entry is the most expensive (and least secure) while chip reads are the cheapest and most secure. Unless you are on the scale of WalMart and process your own bank transactions, you are not getting below 2%.

One other minor point, Paypal's terms of service are a bit different with regard to pricing. you are allowed to charge a cash price and then a markeup for the CC charge whereas most bank sales agreements forbid this. Our invoices are all calculated based on cash sale. (we do take checks from friends we know). CC transactions are up-charged the actual % paypal charges us and its clearly shown on the invoice. Makes tax reporting easier too as we never see that part of the money. Almost all of our sales are in person when work is complete. We do not do internet sales so our requirements may be a bit different than yours.