Credit Card Processing....?

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MyDarlingDeviant

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So I started my own business. Or rather started selling dildos yadda yadda.

Anyway....I can process credit cards through PR, however...I can only use that money to buy more product. So there is no profit seeing as nearly every single sale is credit card.

I looked into propay, but they said I couldnt be verified (Ive had 4 last names...looks like fraud or something)

So I prefer to do credit card transactions over the phone because hauling around a portable and expensive credit card machine just isnt in the cards for me yet...

Anyone have any idea what works best? Cheapest? Most reliable? or any experience at all with this sort of thing? Im told I can go through paypal as a business account thingy but I would really prefer my account not get frozen for 180 days due to some moron hitting a button...if I ONLY use paypal for these transactions...is it a good idea? The rates arent the best...but the best is available for me and my fraud like last name issue.
 

SilkKnitter

SNIFF
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Stay away from the CCs till you are bigger. The set up sucks and the fees are not all that great for processing. Stick with cash and check for now. But if you must then I guess I will have to google and call around for ya.
 

keebs

Particinator
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....
So I prefer to do credit card transactions over the phone because hauling around a portable and expensive credit card machine just isnt in the cards for me yet...

not all portable credit card machines are expensive!

this is what you need! and it doesn't even need a connection to process your transaction!
istockphoto_675825-credit-card-swipe-device.jpg


it uses the technology of carbon copy
 

BRiT

CRaZY
Founder
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Disclaimer: It's been a while since I researched this for other clients.

You still have to pay a processing fee to get your money from the CreditCard company regardless of how you collect the information -- via carbon paper or iPhone app or CC POS.

This may have changed over the years, but at the time this is how it worked. If you go direct with MC/Visa/Discover, they usually require an insane insurance payment upfront and collect a percentage of the charge and have a minimum monthly service fee. They also require a merchant to keep records for three years. The lowest I've seen their security deposit was $40000.

There are ones out there without monthly fees or minimum charges. With that said, it's best if you continue to do your research before getting into a contract or purchasing a service and be sure to do extensive checks on the company offering the service.
 

MyDarlingDeviant

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I looked at a zillion the other day and put in an application with Intuit (they do quickbooks or something) and they want 12.95 a mo, 2.9% and .30 per card. And the do a batch dump into my bank account for free everyday. I should kno wby monday if they are goin gto accept me or not....reallllly hoping they do.
 

Cubuffsnake

BOHICA!
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If you have legal docs on your name cahanges, ie; marriage certificates, divorce decrees,witness protection etc, I can't see why fraud would look plausible. Sorry I don't have more fror you, but good luck and great success for you.
 

BRiT

CRaZY
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Some places prevent you from charging an extra processing fee for credit cards, but they do allow you to give a discount for cash / check. Yeah, they're funny that way.
 
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