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SportsShooter.com: Member Message Board

Credit Card Processing
Christopher Park, Photographer
San Diego | CA | United States | Posted: 11:59 AM on 08.11.10
->> soooo. im sure there has to be a thread on this somewhere by now but i couldnt find it.. Anybody have a favorite credit card processing service? Accept pay? Intuit? My priority is low percentage rate. Monthly fee shouldnt matter much as we are relatively high volume and just need a good low percentage processing fee. Thanks!!
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Osamu Chiba, Photographer
Vista | CA | USA | Posted: 1:37 PM on 08.11.10
->> Chris,

(Long time no talk. Hope you're doing well.) Anyway, I've been using
Authorize.net since 2007. This is what I got when I started out:

Standard Internet Merchant Account Rates and Fees:

Monthly Statement/Support: $9.95
Visa/MasterCard Per Item Rate: 25¢
Fixed Visa/MasterCard Discount Rate: 2.39 % On qualified transactions
Monthly Minimum Discount Rate: $25

American Express and Discover can be requested

Authorize.Net Payment Gateway Fees:

One-Time Set-up Fee: $99 Promotion- normally $149
Monthly Gateway Access Fee: $20
Gateway Per Transaction Fee: 10¢

-------------------------------

I admit I am not paying attention to current deal, if different. Also, with your "high volume", those numbers could be different. I have never used any other services so you may find a better deal somewhere else. Good luck.

O
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Ron Hawkes, Photographer, Photo Editor
Rockland | ME | USA | Posted: 5:26 PM on 08.11.10
->> I have used Intuit for about 9 months now and have had no problems, fair rate, reliable, quick to pay. Free to try for either 30 or 60 days. I only use the online, have not done card reader.
Ron
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Allen Murabayashi, Photographer
New York | NY | USA | Posted: 5:32 PM on 08.11.10
->> chris,

one thing to be aware of is that you'll get a standard 2.x% rate from almost everyone you talk to, but the devil is in the details. for example, if you are doing business over the internet, you are conducting a "card not present" transaction, which means it's a "non-qualified" charge.

this can easily add a percentage point or more to your rate.

also, there's a difference between the merchant bank and the gateway. the gateway is going to charge you an absolute fee every time you run a card, whether it's a valid charge or not. paying $0.15 - $0.25 per "auth" isn't uncommon. So if you're charge is too small (e.g. $5), you're going to get killed on fees. this is why small businesses often have the (illegal) minimum charge for using a credit card.

i've seen small businesses who think their rate is 2.5% but when you factor in all the fees, they are paying closer to 9%. so just make sure you understand some of the nuances.

allen
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Israel Shirk, Photographer, Assistant
Boise | ID | US | Posted: 6:37 PM on 08.11.10
->> I'm using Google Checkout... It works well for over-the-net transactions - 2.9%; you have to get the payout limit removed if you're going to actually use it for business though.

Was with the people Photoshelter required (formerly Netbilling and Payment Resources International - this was probably 3-4 years ago), until they got bought out and started jacking up their monthly fees to $100+ a month. Netbilling was nice, but PRI went south.
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Christopher Park, Photographer
San Diego | CA | United States | Posted: 8:14 PM on 08.11.10
->> Thanks everyone! Hey Osamu! Doing well, hope you and the family are great!! I know one thing to lookout for is what qualifies you for the discount rate and often any sort of points cards can screw that up. Ron, do you know if intuit bumps you on many "non-qualifying" cards. Guess same goes for google checkout too.

Anyone try accept pay? fees are looking pretty enticing but not sure what disqualifies you from the base percentage rate.
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Nick Morris, Photographer
San Diego | CA | USA | Posted: 11:14 PM on 08.11.10
->> My wife is the west coast rep for Xpress-Pay.com She can hook you up with great rates. I'll send you an e-mail.
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Michael Muszynski, Photographer, Student/Intern
Chicago | IL | USA | Posted: 12:17 AM on 08.12.10
->> Squareup.com is my favorite, but mostly because a friend of mine works there. I've been using it for a bit. But it might be better for having cards present.
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Derek Montgomery, Photographer
Duluth | MN | USA | Posted: 1:04 AM on 08.12.10
->> Squareup.com is a pipe dream for most people. A vast majority of people who signed up for the service are still waiting for their readers. Check out this forum topic to see the frustration...

https://support.squareup.com/entries/220957-accept-any-amount-immediate-dep...

I signed up with Square and downloaded the app the morning it was released, got my bank account approved and verified a couple days later and am still waiting for the reader. It's been over two months now. Since the middle of June, they have been "cutting through red tape" and on the verge of shipping the readers en masse.

If you can get a reader, good for you, but if you are just learning about Square, be prepared to take your spot in line behind thousands of people who have yet to receive their reader.

For more information on Square, here is their website...

http://www.squareup.com

In the meantime, I've been using Quicken's merchant solution, which has been great so far.
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Frank Niemeir, Photographer
Woodstock | GA | usa | Posted: 7:32 AM on 08.12.10
->> When I first heard of Square I was excited, but now I wonder if it's vapor ware. Now, I'm looking into Costco and their partner Elavon: http://www.elavon.com/acquiring/costco
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Michael Ciu, Photographer, Assistant
Lorain | OH | USA | Posted: 8:22 AM on 08.12.10
->> We use MTG, http://www.midtrans.com/. We got a good deal through PPA. No equipment, everything is processed over the phone so i can process cards anywhere. If you are a PPA member, might be worth a phone call or email to them.
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Allen Murabayashi, Photographer
New York | NY | USA | Posted: 10:52 AM on 08.12.10
->> chris,

a "discount rate" is just a marketing term for the unadulterated credit card fee (e.g. 2.39%). you don't qualify or not qualify for it -- it's just the rate you get.

a particular charge is either qualified or non-qualified. if the card is present, and the charge isn't for something like porn, then it is "qualified." if you are charging someone over the internet without being able to physically swipe the card, it is "non-qualified." other triggers affect the rate, for example, is the card a "rewards card?" is it a debit card, etc. there is no free lunch when it comes to the credit card industry.

new businesses, in particular, are subject to a slew of fees that more established businesses are not.
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John OHara, Photographer
Petaluma | Ca | United States | Posted: 8:50 PM on 08.13.10
->> Costco the rate is 1.63% plus .23 per. I think this is very good. Visa, MC Discover and Amer Express
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Darren Whitley, Photographer
Northwest Missouri | MO | USA | Posted: 9:13 PM on 08.13.10
->> Amex is $5-6 per month additional. And cancelling them was a PITA. I bet I paid for service for months before I realized they were still nursing from my bank account. I went through Merchant Wharehouse. My base fee for Visa/MC is about $50-55 even if I have no sales.
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Ron Hawkes, Photographer, Photo Editor
Rockland | ME | USA | Posted: 7:24 AM on 08.14.10
->> Christopher, I have not had any increases with Intuit with missing information. There are only a few things required, all easy to get from the customer. The only one that I have not had was the three digit security code and I did not see where that cost me any more to process. My monthly fee is $12.00 by the way regardless of the number of transactions.
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Phil Hawkins, Photographer
Fresno | ca | usa | Posted: 1:45 PM on 08.26.10
->> I think it's worth mentioning here that either next year or for tax year 2011, CC processing companies will be required to report to the IRS any payments made to you. You'll get a 1099 from them. One of my clients has already heard from his CC processing company in anticipation of this new rule requesting the tax reporting info. I use PayPal and have yet to hear from them regarding this situation. PayPal pays me, not the CC processing company. I don't know yet if I'll get a PayPal 1099, but I think it's worth bringing this up FYI.
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Nick Morris, Photographer
San Diego | CA | USA | Posted: 3:13 PM on 09.20.10
->> Just wanted to let you know what I am doing. My wife works for a company that has an awesome system that is online and we pay no merchant fees.
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Eric Canha, Photographer
Brockton | MA | United States | Posted: 3:17 PM on 09.20.10
->> Phil I could be wrong but I believe that the 1099's are for those that have $20k and 200 transactions for the year.
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Phil Hawkins, Photographer
Fresno | ca | usa | Posted: 3:46 PM on 09.20.10
->> Hi Eric, you may be right. But I do way more than 20k a year through paypal, and have not heard from them, so no news is good news, I suppose, in that regard... maybe my day is coming...

BTW, as far as recommending CC processing companies, I use PayPal for my workshop signups, and eftnet.com for my hosting service. I've used eftnet.com for many years and never had a problem with them. Great customer service too. But in my opinion, PayPal is worth the fees you pay to completely eliminate the hassle factor you can encounter dealing with accepting CCs. You really need a healthy volume to make it worth using a direct CC processing company; gateway fees, a fee for that, a fee for this... on top of the %2.5. They can nickel-and-dime you to death.
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Thread Title: Credit Card Processing
Thread Started By: Christopher Park
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