Looks interesting. I wonder how they handle the security.... I'd be pretty hesitant over anyone handing me their iphone or ipod to swipe my card and sign on screen. It wouldn't take someone very long to create a fraud version that would simply capture your info so they could use it for who knows what..
swirt said:
Looks interesting. I wonder how they handle the security.... I'd be pretty hesitant over anyone handing me their iphone or ipod to swipe my card and sign on screen. It wouldn't take someone very long to create a fraud version that would simply capture your info so they could use it for who knows what.
The iPhone itself is pretty secure - we are releasing an iPhone app for Rezo pretty soon and it will support keyed CC transactions initially and it seems like the security has checked-out pretty well. We hope to move to a swiped product eventually. There is no reason swiped cannot be at the normal 1.69% rate as it is on your home machine. All of the rates will just be exactly the same as they are through GT. The use case we have heard from innkeepers rarely involves a card-present (used as a swiper), but is more centered on taking a booking over the phone while away from the inn.
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What company is offering swiped rates of 1.69?
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Morticia said:
What company is offering swiped rates of 1.69?
Intuit is 1.64% (sorry for some reason I had 1.69 in my mind) now on swiped through Rezo GT, down from 1.72 effective April 1st.
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Any other fees? Add on costs for non-vanilla cards?
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Morticia said:
Any other fees? Add on costs for non-vanilla cards?
Yes there are - we couldn't make it that easy! Quite frankly I don't have them all in front of me, so don't quote me on this... but there is no sign-up free, no termination fee at all. There is an offer right now for Webervations users that gives you a free cc swiper as well. If you have a keyed in card or card not present, the rate is up around 2.45ish range. Mileage cards can be as high as 3.3ish range. Not sure AMEX, but it is around that high as well. Also small per transaction fee around .20.
I think for the most part, the rates are VERY good. We have over 500 properties now that use this system. We've seen countless monthly statements from countless cc providers and for the most part the rates wind up being better. Some of the time they are not - but they are usually very, very close at worst. It is also lodging certified which IMHO is very important (and in the opinion of most people who understand cc processing pretty well!!!)
I'm not going to tell anyone that this is the dirt-cheapest way to process a credit card, but again in my biased opinion... it is a great value that also saves you a ton of time and consolidates your operation a bit more. Plus - with no early termination fee and nothing up-front, and no terminal fee - there isn't a lot of risk to it. Out of everything Intuit has done for us (which is a lot), those parts of the deal are the best. They don't rope you into something for years and years - they need to continue to prove their value to keep you as a customer and that says a lot about their integrity.
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