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Old 18th February 2010, 06:05 PM   #1
slipaway172
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Default How To Accept Credit And Debit?

Hello,

I am in the process of starting a small computer repair business. I so far have a domain, a working website, and all the tools and legal software i need. I know i still need to apply for a business license and register my business name. But i have looked around and cannot find any definitive answers about how to accept credit and debit. I looked into verifone but they are crazy expensive. I plan to have my netbook on me when i go to clients location, so could i just buy a $50 (generic) card reader an process it online somehow. I do have a paypal account if that helps.

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Old 25th February 2010, 03:34 PM   #2
phanio
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There are several ways to accept credit and debit (with or without) a reader. There are software programs that you can use - just type in the information - no scanner required.

Just know that all of them charge for everything.

Have you looked into Paypal - they appearantly have a good online system as long as your business does not have many chargebacks.

I just did a quick search and found MerchantAnywhere - seems they have little or no set up costs and might meet your needs - NOTE: I don't know anything about this company other than what i just read online.

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Old 12th March 2010, 01:21 PM   #3
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okay, i do have a paypal account that i use for ebay, i never really looked into paypal. but i guess i will have to go buy cheap scanner for scanning card into paypal.

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Old 13th March 2010, 04:52 PM   #4
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Quote:
Originally Posted by slipaway172 View Post
Hello,

I am in the process of starting a small computer repair business. I so far have a domain, a working website, and all the tools and legal software i need. I know i still need to apply for a business license and register my business name. But i have looked around and cannot find any definitive answers about how to accept credit and debit. I looked into verifone but they are crazy expensive. I plan to have my netbook on me when i go to clients location, so could i just buy a $50 (generic) card reader an process it online somehow. I do have a paypal account if that helps.
First, Verifone is a POS Provider, they do not set up merchant accounts. computers, Computers, computer repair is a high risk business category. If you want to accept a "debit card" you will need a POS Terminal or a swipe reader that you can attach to your laptop. The card reader will utilize a gateway such as PC Charge to process your transaction via a secure connection.

A second option would be to use a wireless termianl such as a Lipman 8000, or any termianl in that family of POS Terminals.

Factors to consider, business volume, are you conducting face to face transactions, average ticket, your credit score. Accepting credit cards is a business tool to increase your sales volume, not an expense. Accepting payments other than cash, should increase your bottom line 25% to 40%.

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Old 1st April 2010, 11:44 AM   #5
Adler
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Hi,

Accepting Credit/Debit cards for business purpose is really helpful.Accepting card payments has a number of advantages for businesses,it helps not to handle cash. However, one should have to check on transaction costs and balance.it's also helpful to put precautions in place, as card payments can expose you to an increased risk of fraud.

Thank you

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Old 8th April 2010, 11:37 PM   #6
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You can also get a normal merchant account and get a virtual terminal. First Data offers virtual terminals as an alternative to having to have a credit card machine.

A virtual terminal lets you process online, like paypal, you enter in their credit card online with you login.

We have been using a virtual terminal for our business for several years. Much cheaper than leasing or buying the machines. Also, seems like a good solution for you since you can process credit cards where ever you have access to internet.

I am sure there are many companies that offer virtual terminals.

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Old 14th May 2010, 06:38 PM   #7
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Quote:
Originally Posted by slipaway172 View Post
Hello,

I am in the process of starting a small computer repair business. I so far have a domain, a working website, and all the tools and legal software i need. I know i still need to apply for a business license and register my business name. But i have looked around and cannot find any definitive answers about how to accept credit and debit. I looked into verifone but they are crazy expensive. I plan to have my netbook on me when i go to clients location, so could i just buy a $50 (generic) card reader an process it online somehow. I do have a paypal account if that helps.
A computer repair business is NOT a normal merchant account. You are classified as a Level 2 merchant. All computer related parts, repairs is considered a higher risk merchant.

You concept of using a swiper attached to your laptop with a software such as PC Charge, would work. You still have to obtain the proper approval.

You a new merchant, no processing background, your a mobile merchant, credit score is unknown etc.

Therefore you have several factors to overcome, but, with careful undrwriting their are processors that will accept you.

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Old 30th June 2010, 11:57 AM   #8
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As said all people will charge to accept visa/mc/amex/disc no matter debit/credit. if it is pivitol to your business i would say its a no brainer, but if you can handle a cash only method you'll save around %2.5 on all your transactions. who couldn't use an extra %2.5???

I work for a business bank and what we do for people in your position is we recommend that they use online payment via any online access. this way you don't have to pay rent for a terminal and you can make payments anywhere, literally, at the best rate. some of my customers use the iphone app to accept payments.

I always recommend talking to the bank you have a relationship with first and checking competitive rates. let me know if you have questions

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Old 25th July 2010, 01:21 PM   #9
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I have a merchant services account through intuit. It is all done online and has a lot of great options for payment methods for my clients. The fees aren't bad, and if you're a new user, you get the first two months free.

It might be something to look into. You do have to be approved.

Best of luck,

Beth

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Old 25th August 2010, 07:41 PM   #10
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Quote:
Originally Posted by yankeeman View Post
A computer repair business is NOT a normal merchant account. You are classified as a Level 2 merchant. All computer related parts, repairs is considered a higher risk merchant.

You concept of using a swiper attached to your laptop with a software such as PC Charge, would work. You still have to obtain the proper approval.

You a new merchant, no processing background, your a mobile merchant, credit score is unknown etc.

Therefore you have several factors to overcome, but, with careful undrwriting their are processors that will accept you.
I disagree. Computer repair is a standard retail account. You should have no problem getting approved. Also if you get a Gateway you will pay a monthly fee for the service plus a transaction fee. I would suggest a used Wireless terminal setup from a reputable company.

You should be able to get a Nurit 8000 for about $199 used. But, watch out they can be chipped or registered already so make sure you get the terminal from the processor that wants to set you up.

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