CANDACE YOUNG on wed 19 jan 11
Just heard from Chase Paymentech that there will be a minimum $25 fee
per month for credit cards. I don't use mine for 6 months out of the
year. That's a big chunk to give away for the privilege of taking
CCs. What are other folks using to take cards? I already am
convinced that most of my sales are on cards so I need to find another
way. I do a few shows a year and take cards in my studio and on net
sales. Any thoughts?
Candace Young
brp@embarqmail.com
bayriverpottery.com
252-745-4749
Larry Kruzan on wed 19 jan 11
I've been using propay for a while and have found it a good option dependin=
g
on the level of use you need. Their limits could be a problem if you have a
really good month, but others have told me that they are happy to upgrade
you if needed.
The one downside is how long it can take to get paid. Most times the card
clears in 2-3 days then you request payment, another 2-3 days. If there is =
a
weekend involved, it can take a week to get your money.
No monthly fee, just a annual fee as low as I was paying per month.
My business was 60% CC a few years ago, its now less than 10% - I'm sure no=
t
going to give CC processing companies $500-600 just for the privilege.
Larry Kruzan
Lost Creek Pottery
www.lostcreekpottery.com
-----Original Message-----
From: Clayart [mailto:Clayart@LSV.CERAMICS.ORG] On Behalf Of CANDACE YOUNG
Sent: Wednesday, January 19, 2011 8:31 AM
To: Clayart@LSV.CERAMICS.ORG
Subject: New Credit Card minimuns
Just heard from Chase Paymentech that there will be a minimum $25 fee
per month for credit cards. I don't use mine for 6 months out of the
year. That's a big chunk to give away for the privilege of taking
CCs. What are other folks using to take cards? I already am
convinced that most of my sales are on cards so I need to find another
way. I do a few shows a year and take cards in my studio and on net
sales. Any thoughts?
Candace Young
brp@embarqmail.com
bayriverpottery.com
252-745-4749
John Rodgers on wed 19 jan 11
I have used Propay.com for 5 years. They offer a secure card reader
from which the captured card data can be uploaded on the internet to
their system. It is not an instant transaction device. After a show you
do need to input the data to their system either by hand or by the
reader. Takes up to three days to collect, and another couple of days to
transfer to your checking account. A good way to go for only partial
year use.
John Rodgers
Clayartist and Moldmaker
88'GL VW Bus Driver
Chelsea, AL
Http://www.moldhaus.com
On 1/19/2011 8:31 AM, CANDACE YOUNG wrote:
> Just heard from Chase Paymentech that there will be a minimum $25 fee
> per month for credit cards. I don't use mine for 6 months out of the
> year. That's a big chunk to give away for the privilege of taking
> CCs. What are other folks using to take cards? I already am
> convinced that most of my sales are on cards so I need to find another
> way. I do a few shows a year and take cards in my studio and on net
> sales. Any thoughts?
>
> Candace Young
> brp@embarqmail.com
> bayriverpottery.com
> 252-745-4749
>
>
Dale Neese on wed 19 jan 11
Candace,
everyone can pretty much expect all kinds of new fees attached to credit
card services and banking services since the government cracked down with
new laws and interest rate regulations that credit card companies and their
service providers must follow now. You are going to get additional new
charges or price increases for services you may already have. I am like you
in that I do not use my CC service except for 4-5 retail shows a year but
still have to pay the monthly fee if I don't use the service. It's part of
doing business if you accept CC cards today. I'll say my sales at the last
two shows were primarly CC or Debit Cards, 80% vs 20% cash or checks. Your
$25 a month is lower than my monthly charges only by about $5 and I tried t=
o
get them lowered but without much success and I've been with this service
for a long time when it was NOVAS but since has changed ownership a couple
times. I saw a jump in monthly fees when I went to wireless transactions
last year purchasing a new wireless card reader and receipt printer. I was
so done with the manual "knuckle buster" way of taking CC cards. It's a
digital process now with some advantages. But the extra time it took
manually entering in individual sales amounts after the show in a terminal
and per transaction charges were reduced on the other side. You may also ge=
t
charged a monthly fee if you receive a paper statement each month. Even if
you go to just receiving "online statements" it only reduced my fee by $5. =
A
statement fee is a statement fee whether it's on paper or you receive it
online. My service company and probably all CC companies are requiring that
it's merchants be "security certified" yearly to handle customers personal
CC info securely, in other words "how do you protect their CC information
during and after the sale"? Each year there is a fee and "questionaire" tha=
t
must be sent in to get certified or they will refuse to do business with yo=
u
as a merchant. In return you get a "certificate" to post in your booth
saying you are protecting each customers CC numbers in the sales
transaction. So many people are having their identity and CC information
stolen these days. So there's another fee on top of the basic monthly
service fees. Some of the bigger banks now I've read will start charging
monthly bank fees up to $10 a month if you don't keep a balance in your
checking account of at least $2000. It's become another finiancial world ou=
t
there for small business owners or many of us trying to sale pots at craft
shows. I have to watch every penny in studio expenses, from reclaiming clay=
,
ceramic magazine subscriptions, tools etc, anything I can possibly do to
keep it profitable.
Dale Tex
"across the alley from the Alamo"
Helotes, Texas USA
www.daleneese.com
DJ Brewer on wed 19 jan 11
Get Verizon's internet anywhere card that plugs into your laptop and use
Paypal for people to pay you. It means you'll need your laptop and
Verizon's service -- but you'll get paid! (I think it is Verizon -- but
anyway, there are phone companies that offer such an item. My husband
used one)
much love
DJ
------------------------------------------------------------------------
On 1/19/2011 8:31 AM, CANDACE YOUNG wrote:
Just heard from Chase Paymentech that there will be a minimum $25 fee
per month for credit cards. I don't use mine for 6 months out of the
year. That's a big chunk to give away for the privilege of taking
CCs. What are other folks using to take cards? I already am
convinced that most of my sales are on cards so I need to find another
way. I do a few shows a year and take cards in my studio and on net
sales. Any thoughts?
Candace Young
brp@embarqmail.com
bayriverpottery.com
252-745-4749
John Rodgers on wed 19 jan 11
There is a principle to consider in sorting this out, and the
principle applies to many other things in Clay as well.
"Technology for Competitive Advantage!".
Making money is the name of the game. You simply MUST look at whether or
not you gain an advantage in the market by going the extra and getting
the newer technology. If you do, by all means, upgrade. It makes good
sense. If not, stay where you are. No point spending money it it isn't
going to make you money.
This same principle applies to tools and equipment as well. If a new
tool or piece of equipment makes you more efficient in your operation,
so that you can make more money, then the expense can be justified.
Where equipment is concerned, this is why you get the tax breaks you do.
They are designed to promote business replacing tools and machinery on
and ongoing basis. It keeps the market in each area moving. It's
important to the economy.
There are only two options in the business world - to provide a service
or provide a product. Virtually everything falls into one or the other
of these two categories. If you are doing either - then you are
operating a business, and business is primarily for profit (there are
legal "non-profits" but that's a different matter.. How much profit
depends on you. It's a game, and how well you play depends on how much
you are willing to learn. Learn enough, apply it, and you will make a
nice profit every year and it will be fun. Keep good records, put all
your info into Quickbooks Accounting, and then use the graphing
functions to look at the various parameters of your business. It's
pretty fascinating stuff, fun to work with. Take a look at a Percentage
Contribution Chart - examine whether a particular product contributes to
the bottom line. I did this when I had my Alaska shop, and I quit making
some things. Did pay to spend my time at it. The items were money
losers. There are a raft of ways to view your data, each telling you
something unique about your business. Don't do this, don't learn, don't
apply, and you will fail. No in betweens.
My $0.02 this am.
John Rodgers
Clayartist and Moldmaker
88'GL VW Bus Driver
Chelsea, AL
Http://www.moldhaus.com
On 1/19/2011 8:31 AM, CANDACE YOUNG wrote:
> Just heard from Chase Paymentech that there will be a minimum $25 fee
> per month for credit cards. I don't use mine for 6 months out of the
> year. That's a big chunk to give away for the privilege of taking
> CCs. What are other folks using to take cards? I already am
> convinced that most of my sales are on cards so I need to find another
> way. I do a few shows a year and take cards in my studio and on net
> sales. Any thoughts?
>
> Candace Young
> brp@embarqmail.com
> bayriverpottery.com
> 252-745-4749
>
>
Melissa Schooley on wed 19 jan 11
One thing I have learned is to pit the credit card processors against
each other.=3D20
Phone around. Get rates. If company A can do better than company B, tell
company B what
you can get elsewhere and ask if they can match or beat company A's
offer.
I was able to lower my CC processing rates last year by doing this.
Phoned around, got
rates, called my company back. I just flat out told them, "I can get a
better rate with X.=3D20
Can you do better or should I go ahead and make the switch?" Their tone
changed awfully fast.
"Ohhh, uhhh, let's have a look....oh. Of course! Why look! We CAN offer
you a better rate than
we are currently giving you!".
Gee. What a surprise.
It's worth a shot. You'd be surprised how flexible these rates really
are.
Melissa
Melissa Schooley
Raging Bowl Pottery
www.ragingbowlpottery.com
www.ragingbowl.etsy.com
www.ragingbowl.blogspot.com
Handmade Porcelain Celebrating the Art of Fine Craft
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