[Mark C.]

Credit card processing-old school style (wireless machine) andwith the square up.

GEP will like this-as I did a year-end number crunch of 2011credit card fees with my processor-merchant warehouse-the total fees charged. That’severything monthly statement wireless fees statement fees per swipe charges andall the rest etc (minus the cost of the original terminal), which I have hadfor over 6 years.

I have done this every few years as its good to know what’sup.

It worked out to 3.8%

Last Show I used the square up with my I-phone

Fees-2.75%

We always thought it was about 1% less and that’s about right.

I ordered some paper receipt books with my logo and name onthem for Future Square up sales-I’m doing both for a while to see if this newway is any easier-the receipt writing will not be.
The receipt is easier for both parties with the old school machine

Keep you posted after my next show in Washington State.

Mark

[GEP]

Mark, thank you for this! This is really useful information. I got my Nurit at the end of 2010 and I've been meaning to do the same analysis to see how my fees add up compared to Square. So this morning I figured it out for 2011. My situation is a little different from yours, mainly I don't have any wireless service for the Nurit (store and forward everything), and last year I took a lot of credit card payments from galleries over the phone. My analysis worked out to 2.98%.

My charges from galleries were about 30% of all of my charges. Those were keyed in rather than swiped, which means Square would have cost me 3.5% of those sales. So when I factor that in, the bottom line is the Square would have saved me $2 in 2011. Yes, that's $2. I can't believe it was that close!

Before I had my Nurit, I used a telephone based service called CellCharge, which cost me 4% of each sale + $10/mo fee. So for anyone looking to start taking credit cards, don't accept these numbers anymore, you can do much better these days!

It will be interesting to see what my percentage is for 2012, because I am doing a lot less selling to galleries this year, and only to existing accounts. Existing accounts are far more inclined to pay by check instead of charge (so far this year only one has paid me by charge). When galleries use credit cards, they are typically "corporate" credit cards, which get processed at a higher percentage than a personal credit card. So with fewer corporate credit cards I'm hoping my percentage will go down.

For me, there's also the smartphone factor, i.e. I don't have one. So in order to use a Square I'd have to buy an iPhone and sign up for a $60/month data plan, which would make the Square far more expensive for me.

Here's how I see it ... if you already have a Nurit or similar terminal (that hasn't broken down like Mark's) there's no reason to switch. If you are looking to start taking credit cards, a terminal and a Square are pretty much the same. If you already use a smartphone, the Square is a lot easier.

Mark I'd be really interested to hear how you like the Square after using it extensively. I guess I'm still skeptical about having a startup company handling my money. Lots of people love the Square and will defend it passionately, but also I've noticed when someone mentions "I'm having such-and-such problem with my Square" then a parade of complaints will follow. You would probably give an honest and unvarnished opinion, so could you let us know?

Mea

[Mark C.]

My nurit 8000 is in Kentucky being repaired for a flat fee repair. As I'm not giving it up yet-till I see how the receipt writing goes.
The thing I did not say was that the difference in actual cost if I had used the square (I would only use it when I had card in hand and could swipe it) which is 2.75% flat rate compared to My merchant warehouse account . The square up would have been a 400$ saving. My total credit card gross for 2011 was a tad over 40 K which I know as merchant service companies now give you a 1099 at year end with the totals.
I ordered some customized receipt books with my name and logo on them so I can write them fast.
On a big show I have up to 600-700 customers and about almost 1/3 of them do credit cards so Thats about 300+ receipts to write up.This could be a time issue for sure.
I will let you know if this works-I really like my nurit 8000 as it spits out receipts like like rain drops falling from the sky.
One issue right off with the square was if my phone service does not work at a show which can happen you have a $1,200 non swipe limit per week-they upped mine to 3,000 per week but this is to low for a big show without phone service. They will up this again once I run some dollars thru the system I'm sure. So on that point alone the square does not work well.
I'll give a honest (real) opinion by late fall. As I plan on using both for awhile.
The smart phone costs as mentioned where not factored in as I use it for real time weather at a show-its a business tool for me and the credit card capture was very much secondary use. As it turned out last show I was glad to have the option when my nurit 8000 died.
Things I did not mention where the square up has two rates
3.75% for non swiped cards-limit applies per week
2.75 for swiped cards no limits

I have had at least 5 merchant services over the years and square up already has been a little slow with communicating on issues that are not on their FYI site.
Human contact is not in the mix with them.

so far if I feel if you have a smart phone and do a few visa sales the square is perfect for you-Thats not my situation so we shall see.
Mark

[SShirley]

I love my Square. I think my favorite part is that during months that I don't make any charge sales, I don't pay a fee of any kind. And the money gets to my account quicker than when I deposit checks. Our clay club uses Square for group shows and it works great there too.

[Dinah]

Square is a good product. I use it on my Sprint Evo Shift. I don't have a land line anymore and combined about a year ago. I also like Square because if for some reason I can't get the card to "take" when it's swiped, I can manually enter the card's numbers. If you have a Square you should read through the FAQs.

[Mudslayer]

hi, am looking for CC info. Do not have a smart phone as of yet, but have been getting these pop ups from the Paypal card reader where you just plug in their free device, and the fees are just 2.7%, no monthly fees, just the sales fee. Anyone got or used this? I have seen the Square info, but they have a monthly fee if i am not mistaken.

any info would help!



this would be just for my brick and mortar store, nothing online.

[Mark C.]

Mudslayer, on 24 July 2012 - 10:16 AM, said:

hi, am looking for CC info. Do not have a smart phone as of yet, but have been getting these pop ups from the Paypal card reader where you just plug in their free device, and the fees are just 2.7%, no monthly fees, just the sales fee. Anyone got or used this? I have seen the Square info, but they have a monthly fee if i am not mistaken.

any info would help!



this would be just for my brick and mortar store, nothing online.

The square has no monthly fee at all-I suggest calling Merchant warehouse and talking about all your options until you get a smart phone.
Mark

[JLowes]

I use Square at shows and have had no problems so far. Unfortunately...lol...I have not run up against a dollar limit issue yet, but that is a concern if I become more active with the Square. My sales with Square versus cash/check are 75% Square and 25% cash/check. Square takes Visa, MasterCard, American Express and Discover, all at the same 2.75% rate to me.

Like Mark C. , I do think it is weak on the communications side; if something comes up they FAQ suggest you email them (or Tweet if you use Twitter; I don't, so do not know if that is faster), I have emailed several times with questions about their new product "Register" a point-of-sale application for the Ipad. They have answered each time, but there is typically a few hours, to a full day lag, in the answer. You can imagine that crafting the question properly will help a LOT if you have that much of a lag between question and response. This could be a big problem if they issue an update with a bug. Or a bigger problem if there is a issue with a transaction.

I like the Register application, although I don't think I am taking full advantage due to its poor instructions (brevity/lack of instructions) and the difficulty of getting answers promptly. I keep my inventory, with pricing and pictures stored, so when I make a sale it is easy to see that I am selling / charging for the right piece at the right price. It also can send an email receipt with the purchased item's picture included, location of the sale and my shop's logo.

John

[Laurie]

I have never done credit card sales at my shows, and want to know how to get started. I have a smart phone, but need some detailed instructions. I have a show coming up on next weekend that I would like to be able to take cc payments.

[GEP]

Laurie, on 04 August 2012 - 12:34 PM, said:

I have never done credit card sales at my shows, and want to know how to get started. I have a smart phone, but need some detailed instructions. I have a show coming up on next weekend that I would like to be able to take cc payments.

If you only have one week, then your only option is to get a Square. Go to http://squareup.com to get the details. You can buy the swiper device at several retail stores, such as Best Buy and the Apple store, which will save time compared to ordering the swiper online.

Mea

[Brian Reed]

Just an FYI,

You can use printed receipts with Square as well. You need to use the iPad version of the square app and get a LAN printer, they have a few suggestions on their site. They even has a cash drawer function if you wanted to go that route. The cool thing is that the ipad version of square has a better cash register touch function. Check it out.

[johnspence]

Square is best . My friends are using it and they no problem plus the charges are also nominal 2.75 is okay.. otherwise some companies are charging less but have hidden charges which automatically goes more than 2.75..