Question
Accepting credit cards?
I have a small business and have been told that if I accept credit cards in person, my sales would increase. I checked around and it's very expensive. But PayPal offers it for a flat $20 per month plus the transaction fees. It's called Virtual Terminal, so I filled out the application, they emailed for more information, I faxed it, and was promptly turned down due to my bad credit. Any suggestions? I sell at swap meets and dance festivals where I don't have access to electricity to charge a terminal, and I also camp. I would be using a manual imprinter, then inputting into the computer when I got home. I would not have access to electricity. I would be selling mostly at trade shows.
3 years ago - 8 answers
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Chosen by Asker
I work part time at a small restaurant and we do not accept any plastic. i say maybe once of twice a month i see someone that reads that on the door & leaves. But on that sign it also lets them know we have an ATM that they can use. When you accept a credit card typically the business is charged a fee for everytime someone uses one. you could maybe get an ATM, then for every person that uses it you can make a buck or two.
by MANDEE
3 years ago
Asker's Rating: 
Other Answers
personnallly, I have seen people who paid with credit cards take back there money as soon as a job was complete. in other words we installed some carpet and as soon as we were done they called the credit card company and cancelled there money 2 us and got it back/ I would just tell customers due 2 identity theft we are unable 2 afford useing credit cards due 2 identity theft! (Just a personal opinion!)
by J.T.- 3 years ago
Whether or not your sales will increase if you accept credit cards really depends on the type of business you have. Are you a retail business? If so, I would not recommend using a Virtual Terminal. To get the best processing rate, retail business should swipe their cards. Using a Virtual Terminal will put you in the “card not present” category and will result in much higher fees. Accepting credit cards normally isn’t that expensive, I recommend getting a few more quotes from a few processors. You can get a free competitive quote from the company I represent by following the link below. We have had great success in placing accounts with bad credit in the past.
by Merchant Helper- 3 years ago
There are several options for you. Each one has its own advantage and disadvantage. The first is to get a wireless terminal. These can vary in cost and size. I would recommend a new product that utilizes a cell phone witha credit card reader attached to it. It can work off of several wireless networks as well. It even has a printer that works almost like bluetooth. The initial cost for the equipment is the disadvantage here. However, the lower rates for taking a swiped card will save you $ in the long run. The second is Pay By Phone. This is similar to what you were speaking of previously. You must purchase a very inexpensive Manual Imprinter $35. While the start up cost is less, you will pay a much higher %. The transaction process will also take longer. Your customer will be staring at you while you are punching in all kinds of #s on the phone. In your particular situation, I believe you would benefit from accepting credit cards. In a trade show type setting, you want to be ready for impulse buying. I have years of experience in this industry and can help you get set up regardless of credit history. We auto approve new businesses. Our website might be helpful: www ...
by Cliff P- 3 years ago
I do not know....! PayPal is one of the most popular online money transfer systems widely used for online auctions, pay to surf programs, e-books and purchase of low value goods. It is now a part of the online auction website eBay. More details available at www ...
by GOBU- 3 years ago
I would pass on using credit cards for payment - if the person decides after they buy and they don't want the item all they have to do is call the credit card company and stop payment - you would be out the item and the monies!@
by nswblue- 3 years ago
Try checking with your Bank, sometimes they will help out a customer,also check with the major credit card companies, they might have a program for you, and last but not least , check with the Small Business Association. As far as Trade shows and swap meets,the ones I've been to make it known they only accept cash...If someone really wants what you have to sell, believe me, they will find a bank with an ATM.....Hope this helps
by Wilma Y- 3 years ago
The 'problem' with bad credit is it almost always involves credit cards. So if your bad credit is with a bank or company like Discover, they and the others look at you as not paying up, or not paying when things get tough. So, while you're not asking for credit, those same companies don't want to deal with you. Bad credit hurts in many ways. Especially if there are losses involved. Sorry, I know that's not what you want to hear, but it's true.
by joe m- 3 years ago