Taking "Plastic"
Sunday July 30, 2006
These days, you can really miss a large number of sales if you do not accept credit card payments. When we started out you had to use one of those carbon paper swiping machines. Now, with wireless technology, you can authorize payments right in your booth using a cell phone and a terminal. But watch out! Some rates for accepting charges can defeat the purpose of taking them in the first place! One local bank near me charges around $600 each month for the minimum fee of using their service. While that's an extreme, make sure your rates are competitive before you sign any contracts!
Comments
When I did muy first show, I wanted to have the option of customers paying with credit cards. My husband discouraged it. However, I got an account, opted for the ‘knuckle-buster” copy machine, then did the accounting by phone at night. That year, I had two cash sales, three checks and twenty credit card sales. Would I have not gotten sales otherwise? I think not. Even though the little machines that use cell phones are nice, they ARE pricy. I do not use a cell phone except or emergencies, and sales are definitely NOT an emergency. Do check out the various businesses and banks for their charges. They vary greatly.
Thanks for the suggestion. I know rates are different via banks and other institutions. I need to remember this when gearing up for business next spring.
When I started making pieces that were over $150.00 they weren’t selling as fast as I thought they woulds. I use the old “knuckle-slider” and first time using it my sales were up 500%. Women don’t make $500.00 impulse buys by check or cash!