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Credit cards machines
Posted by Jason Arkenberg
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Credit cards machines September 03, 2004 01:32AM |
Registered: 17 years ago Posts: 18 |
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Re: Credit cards machines September 06, 2004 08:48PM |
Registered: 17 years ago Posts: 243 |
<HTML>Jason, this is my personal opinion,and what I do in my business. I don't have Credit Card machines. I have sign posted inside, as well as outside the shop area. My partner at the body shop doesn't use them either. They all want a percentage of the spoils to have one,as well as an on going charge to manage them. I tell the customers to get their bank machine to exchange money,so they can pay me cash, or if the customer is good enough,and regular. Set up a personal charge account,and charge them a percentage if the account goes over 30 days or what ever you come up with to run your business. Cash seemed to work damn good for our fore fathers, and it will work for our generation as well. I know the Guyru's will knock me on this one,as it hampers sales,and makes it less convient for the customer. Some of the guys on the sight sell all kinds of crap,that ain't for me,thats why PeP Boy's are in business. Remind you that is my opinion. There will be someone come olong here shortly and blow my story out of the water,as they make an extra $20,000.00 here for this and another 10 Grand for something else they pedal. Like Bud and Grumpie says K.I.S.S !
.................................................................................. Brandy</HTML>
.................................................................................. Brandy</HTML>
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Re: Credit cards machines September 06, 2004 09:37PM |
Registered: 17 years ago Posts: 499 |
<HTML>Accepting credit cards can be a real boost to your business or a complete waste of time depending on a number of factors only you can decide upon. I choose to accept Visa and Mastercard and debit cards. We used to accept American Express but they are such Jerks to deal with I stopped taking their cards. We just renegotiated our fees with Moneris Solutions who handle our machine and card processing and the fees are as follows for us:
$25 monthly for the machine (plus paper)
discount rate of 1.75 for Visa
discount rate of 1.78 for Mastercard
(discount rate for AMEX was 3.0 when we accepted it)
$0.09 per transaction for debit purchases.
It would be great if we only accepted cash and paid out nothing to the credit card companies but if you saw the amount of sales we do in credit cards you might think twice. We have a certain amount of customers that make "impulse" purchases of a huge detail job they may have not made if they had to pay today. That's just one way of looking at it. Overall the credit card companies are scum and I hate them but I feel in my business I would be losing work if we didn't accept them. Can't say I disagree with not taking them if you can get away with it though. Good luck.</HTML>
$25 monthly for the machine (plus paper)
discount rate of 1.75 for Visa
discount rate of 1.78 for Mastercard
(discount rate for AMEX was 3.0 when we accepted it)
$0.09 per transaction for debit purchases.
It would be great if we only accepted cash and paid out nothing to the credit card companies but if you saw the amount of sales we do in credit cards you might think twice. We have a certain amount of customers that make "impulse" purchases of a huge detail job they may have not made if they had to pay today. That's just one way of looking at it. Overall the credit card companies are scum and I hate them but I feel in my business I would be losing work if we didn't accept them. Can't say I disagree with not taking them if you can get away with it though. Good luck.</HTML>
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Re: Credit cards machines September 07, 2004 02:33AM |
<HTML>I bought an electronic credit card swipe terminal when I opened the shop (around $700 if I remember right). With it I opened accounts with VISA, Mastercard, DISCOVER, and American Express and we still accept them all.
VISA and MC are pretty cool. Low merchant rates and the money is in the back within 48 hours. DISCOVER and AMEX pretty much suck. The rates are much higher and the deposit times are from 3-7 days.
I bought the terminal and setup the accounts to make us another step removed from the shops that don't take detailing as seriously as we do. I think when customers (or potential customers) see the credit card logos on our shop and in our ads it just adds a little more of a professional image.
Actually, less than 10% of our customers pay by credit card, most are cash or checks, but the option is there if they want it. I just figure the processing fee is part of the cost of doing business.
I've always believed that it's good business to make it as convenient as possible for the customer to be able to pay. I don't care if they use cash, checks, credit cards, fresh eggs, or uncut diamonds...as long as they pay!</HTML>
VISA and MC are pretty cool. Low merchant rates and the money is in the back within 48 hours. DISCOVER and AMEX pretty much suck. The rates are much higher and the deposit times are from 3-7 days.
I bought the terminal and setup the accounts to make us another step removed from the shops that don't take detailing as seriously as we do. I think when customers (or potential customers) see the credit card logos on our shop and in our ads it just adds a little more of a professional image.
Actually, less than 10% of our customers pay by credit card, most are cash or checks, but the option is there if they want it. I just figure the processing fee is part of the cost of doing business.
I've always believed that it's good business to make it as convenient as possible for the customer to be able to pay. I don't care if they use cash, checks, credit cards, fresh eggs, or uncut diamonds...as long as they pay!</HTML>
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Re: Credit cards machines September 07, 2004 02:40AM |
Registered: 17 years ago Posts: 71 |
<HTML>Every time a person gets a new credit card our business benefits...then they max it out ...the business suffers...just a part of life,but to not have a credit card service is costing you business if you have a large retail client base..but my personal feelings are same as posted by both Scott and Eric#@$%^</HTML>
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Re: Credit cards machines September 07, 2004 01:32PM |
Registered: 17 years ago Posts: 641 |
<HTML>I agree, however would like to add one little twist to this.
ATM/Debit cards, not just "credit cards" are the main way other than cash, people pay for things.
I travel all around the world, and don't use personal credit cards, I use my Debit Card.
Stand in line at a grocery store, and watch everyone go bonkers when some idiot writes a check!!
Ketch</HTML>
Do it right or don't do it at all!
ATM/Debit cards, not just "credit cards" are the main way other than cash, people pay for things.
I travel all around the world, and don't use personal credit cards, I use my Debit Card.
Stand in line at a grocery store, and watch everyone go bonkers when some idiot writes a check!!
Ketch</HTML>
Do it right or don't do it at all!
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Re: Credit cards machines September 07, 2004 06:20PM |
Registered: 17 years ago Posts: 146 |
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Re: Credit cards machines September 08, 2004 12:44AM |
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Re: Credit cards machines September 08, 2004 01:10AM |
Registered: 17 years ago Posts: 505 |
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Re: Credit cards machines September 08, 2004 09:47PM |
Registered: 17 years ago Posts: 71 |
<HTML>Ever had a customer give you that "You dont xcept credit cards/debit look and you know there thinking this isnt very professional and that night at TGIF"great restaurant" and tells everybody that so and so dont even take credit cards....I done it before I ever got into detailing!!!!!!</HTML>
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Re: Credit cards machines September 09, 2004 12:43AM |
Registered: 17 years ago Posts: 1,838 |
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