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Anyone using the credit card readers on their I -phone's? What's the true cost of running transactions, and how's it working out?
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My wife uses one for her business, I belive its 2.5% per transaction no matter the card company.You remember the stories John use to tell us about the the three chinamen playing Fantan? This guy runs up to them and says, "Hey, the world's coming to an end!" and the first one says, "Well, I best go to the mission and pray," and the second one says, "Well, hell, I'm gonna go and buy me a case of Mezcal and six whores," and the third one says "Well, I'm gonna finish the game." I shall finish the game, Doc. -
Excellent. I've had some people wanting to do some rather large transactions ($750+) and didn't know if that mattered or not.Comment
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I have used gopayment and the bank of america system. Fees arent much different between them. They are minimal once compared to a normal credit card processing contract. The one thing I didnt like about gopayment, was that it took 3-4days for funds to be deposited
Sent from my SAMSUNG-SGH-I727 using Tapatalk 2Originally posted by LeahComment
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Are there additional fees from your bank for processing?Comment
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No, just the fee from the processing serviceOriginally posted by Snatch Napkin View Post
Sent from my SAMSUNG-SGH-I727 using Tapatalk 2Originally posted by LeahComment
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That's cheaper than our credit card machine. Are there any limitations other than 3-4 business for funds to process?Comment
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Not really. You need to make sure your phone is supported. I ran into that issue with gopayment. Iirc most of them are either tiered (revenue levels), or you can pay a monthly charge and the per transaction rate is decreased. I never figured up the threshold where that was beneficial as I have never rang more than $100 in any monthly cycle
Sent from my SAMSUNG-SGH-I727 using Tapatalk 2Originally posted by LeahComment
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God closes doors no man can open, God opens doors no man can close. Revelations 3:7-8Comment
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We use square on all our iPhones and haven't had any issues with it, 2.75% per transaction and its in your bank the next business day. No Monthly fees, we use to use Chase Payment tech but got tired of the fees.Comment
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Square Register here..
Works on all of my Apple, Android and Tablets.
Plus you can allow users, with the app on their device, to add payments to your account but are access limited to depositing only. Works good if you want to avoid the CCP / POS companies fees.
Next day deposits but there is a split if you swipe or key-in for over $3k
Costs 2.75% per swipe or 3.5% per key-in + 0.30Comment
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It amazes me how much people trust mobile phone and ios/android tablets as a secure source to swipe a credit/debit card, knowing these devices are rooted/jailbroken and can be made to store any data.sigpicComment
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Just like any mag swipe apparatus for that matter.Originally posted by Magnus View Post
People are trusting their banks more and more these days it seems.Comment
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