newbie wants input on credit card processing

[Kim N]

Hi, we have been doing B & B and Vacation Rental with our home for almost 18 months. Most of our reservations and payments have been through airbnb and vrbo, (yes we are legal and pay every penny of tax). As we have recently joined the local B&B owners group, I need to have the capability of taking credit cards, I find this overwhelming with all the charges, percentages and variations between cards. I found a supposed "free" thing that ended up having bad reviews with the BBB and $30 or more of charges each month. I want to be able to input information I get from the Availability Online form for new reservations, but it seems that it is necessary to have the actual card in order to pay lower %age rate.
I am starting slow season so I don't want to even have any monthly charges. I am considering Paypal, Square and a local guy who is coming tomorrow, he has a $250 terminal for running the cards. I'd love some input, we aren't big and summer is the busy time. I've heard mixed reviews about Square. I've heard everything is changing soon with the new chip technology in the cards. I expect I will get a good bit more business through the association I have just joined, and I expect to continue to use VRBO, and airbnb, but I do need ability to take credit cards independently soon.
Can anyone shed any light on my confusion? Thanks, Kim

 

[Generic]

Do NOT buy a terminal. They are not "upgradable" to EMV and EMV roll-out in the US has already started. It's going to cost money to replace and it's old technology.
If you are in the USA, Amazon has a new system, quite like square, but cheaper with a new introductory rate.

 

[Madeleine]

I just read some info on basic things to watch out for.
http://bbteam.com/2012/06/01/credit-card-processing-are-you-paying-too-much/
The article is older but the info is sound.
You can buy a terminal if you need one, verify it is chip and pin capable. Never rent. The contract will break the bank.
Square works for a lot of people on this forum. It is an option.

 

[gillumhouse]

I use Square and am happy with it. No charge for the gizmo (probably will be with the chip & pin version) and no use? No pay. No hidden charges. Money hits my bank the next day. I will never use a processor again.

 

[Kim N]

Thanks for your input. Very helpful. One more detailed question. Can you use your method when you don't have the card in hand (ie, I will be getting my card # and info via a secure web form. I imagine I would be able to slide the physical card when the guest gets here, but I have a pre-pay policy. Thanks for any further clarification on this point.
Kim

 

[Madeleine]

Thanks for your input. Very helpful. One more detailed question. Can you use your method when you don't have the card in hand (ie, I will be getting my card # and info via a secure web form. I imagine I would be able to slide the physical card when the guest gets here, but I have a pre-pay policy. Thanks for any further clarification on this point.
Kim.

Thanks for your input. Very helpful. One more detailed question. Can you use your method when you don't have the card in hand (ie, I will be getting my card # and info via a secure web form. I imagine I would be able to slide the physical card when the guest gets here, but I have a pre-pay policy. Thanks for any further clarification on this point.
Kim

With a cc machine you can do 'key entered' transactions. (They cost a lot more than swiped. If you can get everyone to use a pin debit card, good for you!) Someone who has Square will have to pipe in on how that works for them.

 

[OnTheShore]

With Square you can manually key in the card info, but the rate you pay for the transaction is higher than for "card present" transactions (swiped). Alternatively, you can send an e-mail invoice to the person (via Square) and if they enter their own card info, you pay the same rate as you would if you had swiped the card.

 

[gillumhouse]

Thanks for your input. Very helpful. One more detailed question. Can you use your method when you don't have the card in hand (ie, I will be getting my card # and info via a secure web form. I imagine I would be able to slide the physical card when the guest gets here, but I have a pre-pay policy. Thanks for any further clarification on this point.
Kim.

With Square a non-swipe is 3.5% + 15 cents connection fee. You MUST have credit card number, expiration mm/yym the zip code of the billing address of the card (and it CAN be different than the address given), and the CVV code digits.
Swipe the card and it is 2.75%. Period.
I like that I can verify the amount taken. With the credit card processor I never knew what "class" the card was in to know what the % would be. Never took Discover or Amex because the % was too much and the processor took as long as 5 days before the money hit my bank account. With Square it is next day except weekends, then it may take 2 days.

 

[Madeleine]

With Square you can manually key in the card info, but the rate you pay for the transaction is higher than for "card present" transactions (swiped). Alternatively, you can send an e-mail invoice to the person (via Square) and if they enter their own card info, you pay the same rate as you would if you had swiped the card..

With Square you can manually key in the card info, but the rate you pay for the transaction is higher than for "card present" transactions (swiped). Alternatively, you can send an e-mail invoice to the person (via Square) and if they enter their own card info, you pay the same rate as you would if you had swiped the card.

Good info!

 

[Generic]

With Square you can manually key in the card info, but the rate you pay for the transaction is higher than for "card present" transactions (swiped). Alternatively, you can send an e-mail invoice to the person (via Square) and if they enter their own card info, you pay the same rate as you would if you had swiped the card..

Amazon is just 2.75% on keyed-in, incidentally.