Square can be a great solution for start up businesses and businesses who process a very low volume of payments per month. Square does have an EMV solution at this point, so it is not true to say that they do not. However, there comes a point in every business's life where it outgrows the benefits of square and it becomes more expensive to use than a regular processor. My company, Clearent, is a direct processor and I would love to speak with any of you about fair, and transparent pricing, and flexible payment platforms and options :-)
I use a DIRECT payment processor. DIRECT means there is "NO MIDDLE MAN" between my business transactions and the 4 major card brands. I pay the WHOLESALE INTERCHANGE RATE to the 4 major card brands, this rate is strictly based on the cards that my customers present to me for payment - I know exactly what these rates are on my MONTHLY STATEMENT - the INTERCHANGE RATE is very consistent, month over month. I then pay a monthly fixed fee (a small % multiplier of my volume) to my processor for conducting the transition for me - this is called the PLUS. I use a DIRECT processor and I pay INTERCHANGE PLUS.
WHY? Because this is the most HONEST and TRANSPARENT way to do business in the credit card processing industry.
I use HEARTLAND!
(Interested in seeing what Heartland can do for your business? Please contact me.)
Heartland, because they are a direct provider, and not a reseller/3rd party. Transparency in their invoices and no hidden fees....founder of the Merchant Bill of Rights
If you are doing business and your monthly purchases on a card are over $3,000 per month, you shouldn't be using services like Square or Stripe.
Since Theresa works for a payment processor, she would probably give the same advice.
I saved my parent company over $4,000 annually by switching merchant processors last year.
We only use an internet gateway (virtual terminal), but that is because we don't have any walk-in business and our accounts are international.
Square and Stripe are easy to get set up, but any more than $3,000 per month and you absolutely need to talk to other processors. Start at your bank and see what they offer, and do some research online for the best processors. I offer merchant processing as a value add for my clients. Even though it's nowhere near our core focus, it's always nice to be able to save my existing customers money any way that I can.
we don't have a store front, we deliver to your door, cash or check at the door, which my elderly clients are more comfortable with, some are afraid of technology. Square invoicing via email for credit cards, or Bank E-tranfer for local or out of town businesses, very convenient. Something for everyone!
We have used PayPal for business for over 10 years with no problems. Since I code my sites, I can put their secure code into a site page for item sales. They have exact selections for price, shipping, inventory control so you won't sell more of an item than you have. Sales tax is also exact if you choose. Our antiques site: www.100tonsofstuff.com sells all items by weight plus customer gets to choose shipping method. We have provided this option to other sites. I can also use PayPal shipping even if I did not been paid with PP & I like that because they discount shipping fees (as opposed to online USPS Click N Ship). PP also offers "time payments" setup for expensive items. This is like "layaway" w/pickup or ship when fully paid. I could say more....but you probably think I am an ad by now :)
i have a client i build a site for and they deal in CBD oil products, and paypal and stripe both will not let them use their service, so i am looking for a better alternative for their website processing
I just priced out four different services for my business and settled on Merchent One. They came out ahead for me as a small business needing mobile processing with a good rate and minimum that could change as my business grew.
Hi Theresa, I am the Principal of an Independent Insurance Agency here is Mesa. Most of my insurance companies direct bill and in some cases (mainly commercial policy holders) premiums are financed through a finance company. I really have no need to process payments however I will keep you in mind and refer you to any clients that may have use for your service. BTW I am trying to help resurrect a Networking Group (Business By Referral) and we currently have 6 members. We meet at Crackers & Co. on Greenfield and Brown every other Tuesday at 7:15 am. Our next meeting will be on the 7th of February. If you can fit it in your schedule come check us out. Breakfast is free the first time you attend and dues is $30 per month which includes the cost of breakfasts. If you'd like to further discuss or let me know if you will be attending, please contact me at xxx-xxx-xxxx. Best Regards, Jan Vitale
Answers (1-10)
Square can be a great solution for start up businesses and businesses who process a very low volume of payments per month. Square does have an EMV solution at this point, so it is not true to say that they do not. However, there comes a point in every business's life where it outgrows the benefits of square and it becomes more expensive to use than a regular processor. My company, Clearent, is a direct processor and I would love to speak with any of you about fair, and transparent pricing, and flexible payment platforms and options :-)
I use a DIRECT payment processor. DIRECT means there is "NO MIDDLE MAN" between my business transactions and the 4 major card brands. I pay the WHOLESALE INTERCHANGE RATE to the 4 major card brands, this rate is strictly based on the cards that my customers present to me for payment - I know exactly what these rates are on my MONTHLY STATEMENT - the INTERCHANGE RATE is very consistent, month over month. I then pay a monthly fixed fee (a small % multiplier of my volume) to my processor for conducting the transition for me - this is called the PLUS. I use a DIRECT processor and I pay INTERCHANGE PLUS.
WHY? Because this is the most HONEST and TRANSPARENT way to do business in the credit card processing industry.
I use HEARTLAND!
(Interested in seeing what Heartland can do for your business? Please contact me.)
www.CreditCardSteve.com
Heartland, because they are a direct provider, and not a reseller/3rd party. Transparency in their invoices and no hidden fees....founder of the Merchant Bill of Rights
If you are doing business and your monthly purchases on a card are over $3,000 per month, you shouldn't be using services like Square or Stripe.
Since Theresa works for a payment processor, she would probably give the same advice.
I saved my parent company over $4,000 annually by switching merchant processors last year.
We only use an internet gateway (virtual terminal), but that is because we don't have any walk-in business and our accounts are international.
Square and Stripe are easy to get set up, but any more than $3,000 per month and you absolutely need to talk to other processors. Start at your bank and see what they offer, and do some research online for the best processors. I offer merchant processing as a value add for my clients. Even though it's nowhere near our core focus, it's always nice to be able to save my existing customers money any way that I can.
I've used Square for almost 2 years and I love it! Highly recommend it.
we don't have a store front, we deliver to your door, cash or check at the door, which my elderly clients are more comfortable with, some are afraid of technology. Square invoicing via email for credit cards, or Bank E-tranfer for local or out of town businesses, very convenient. Something for everyone!
We have used PayPal for business for over 10 years with no problems. Since I code my sites, I can put their secure code into a site page for item sales. They have exact selections for price, shipping, inventory control so you won't sell more of an item than you have. Sales tax is also exact if you choose. Our antiques site: www.100tonsofstuff.com sells all items by weight plus customer gets to choose shipping method. We have provided this option to other sites. I can also use PayPal shipping even if I did not been paid with PP & I like that because they discount shipping fees (as opposed to online USPS Click N Ship). PP also offers "time payments" setup for expensive items. This is like "layaway" w/pickup or ship when fully paid. I could say more....but you probably think I am an ad by now :)
i have a client i build a site for and they deal in CBD oil products, and paypal and stripe both will not let them use their service, so i am looking for a better alternative for their website processing
I just priced out four different services for my business and settled on Merchent One. They came out ahead for me as a small business needing mobile processing with a good rate and minimum that could change as my business grew.
Hi Theresa, I am the Principal of an Independent Insurance Agency here is Mesa. Most of my insurance companies direct bill and in some cases (mainly commercial policy holders) premiums are financed through a finance company. I really have no need to process payments however I will keep you in mind and refer you to any clients that may have use for your service. BTW I am trying to help resurrect a Networking Group (Business By Referral) and we currently have 6 members. We meet at Crackers & Co. on Greenfield and Brown every other Tuesday at 7:15 am. Our next meeting will be on the 7th of February. If you can fit it in your schedule come check us out. Breakfast is free the first time you attend and dues is $30 per month which includes the cost of breakfasts. If you'd like to further discuss or let me know if you will be attending, please contact me at xxx-xxx-xxxx. Best Regards, Jan Vitale