Credit Card Processing Options?

Hi y'all! Since we don't really have a business section, I think this is the best place for this question:

I'm currently signed up for ProPay and it seems to be working out well for the volume of business I have going. The one thing that I don't like is that there is a $500.00 limit on a single transaction.

I had a sale go over $1K and had to ask for a check. Now, I could upgrade, but it looks like they may require a sort of "bond" to be paid to approve larger transactions. I just don't have the extra cash to put out on that right now.

One thing I really like about ProPay is their card reader. It is basically a thumb-drive with a card reader built in. Swipe the card, record the last four, and then hook up the swiper to your computer when you get back to the office. (You can go live if you have internet access on location too).

The downside to the swiper is that it is PC only and I'm a Mac user, so we had to dig out an old PC laptop to use for just this one purpose.

What other options are you all using?

Here's what I want:

Higher per transaction limits.
Higher monthly limits (3K right now)
Ability to swipe a card on location in instances where there is no communication available and process after the fact.
Wireless built in might be OK too, but I'd rather have an option that would work in a total dead zone.
Reasonable fees (3% is where I'm at, which I guess is about normal)

Except for the total dead zone, your bank, if it is like mine here in Maine. will let you use the phone and keypad for transaction. It is instant approval, goes right in to my checking account, and has very low fees, will let me go unlimited transactions etc. The bond issue or collateral is to keep you from going under and the customer can't get the money back when you do not deliver or returns become an issue and you do not act responsibly. Then the bank eats the deal and they are in real bad times right now. So many small business go under and will not make returns on merchandise after they do. Not to say you will. Ask your bank rep for a personal interview with a higher up or a local rep who knows you. Ask for a break or wavier of fees. Never know till you ask, all they can say is no.

But a warning here. I was a phone room manager for 3 states and a inbound outbound rep for 4 years. We processed 20 million dollars in that time. People will lie, give false numbers etc. If you are in dead zone and cannot get approval instantly and the transaction is more than you can lose or live with, think carefully the idea of accepting a card without approval. Once you lose the customer, money, most times it can't be recovered. You probably are a big boy and know that. Just beware Jim. I hate to see you lose out.

Thanks Grady.

I'm thinking my bank doesn't offer any merchant type services, but eventually I'll have to get a separate bank just for the business.

The swiper I use records all the information from the card. If we have any doubts about it (battery, etc) we also write down the card info, which I don't really like doing. I've toyed with getting an imprinter, but haven't yet. This swiper stores the information, and automatically deletes the info from each transaction when we process it later on at home. No way to keep the info is a good thing in my mind in most cases.

I have had a couple folks ask me to add some fee to their card, which makes me have to send them a link to a secure site, but I'd rather that than be responsible for the card data beyond the completion of the transaction.

So far, I'm only selling a sitting fee and some pre-paid packages at these events, so folks don't walk off with merchandise of any value. If I were to sell a print, I'd probably do the phone thing to get the authorization code instantly.

We can also transact by phone, but the swiper is a 10 second deal while the phone is a minute or two.

I have been using ProPay and like it a lot. While I have, sadly, not yet had to have a transaction over $500 there are 2 things you can do. one is to break the transaction up into 2 separate transactions less than $500. The other is to speak to ProPay and ask for a higher limit. If you have been with them for a while they should know you are a good customer and raise your limit.

Jim, I forgot to add that I mostly use cell phone transactions. I like the flexibility of making transactions anywhere I have cell service.

Hi Ed,

It was actually your recommendation for Propay that got me to check them out in the first place. I'm pretty happy with them, but I'm only starting my second month. I have to gripe a bit though . . . we just got back from an event, and their card reader only recorded the first two transactions of the day. I had to send a bunch of email invoices out telling folks there was an error, and asking them to please pay online.

I'll get in touch with Propay on Monday to see what they can do about the reader.

Edit: I forgot to mention that the phone transactions are OK, but when I get people lined up for a photo session at these events it takes quite a bit longer to do the phone thing than just a simple swipe. Hopefully they will pass the customer service test and get me a reader before my next event next weekend.

Since you asked, Jim, I do happen to work for a major processor. I am in IT - not in sales, so can't tell you anything about rates or limits, but if you would like more information, I can find someone for you to contact. Just send me a PM and let me know.

Amy D.

Teamac Inc is a credit card merchant services company that works with artists. You have to buy a machine but I've been using one for a couple of years from Florida to North Dakota, Colorado to Maryland with no dead spots and no problems. We've had a couple thousand transactions, some in the $5,000 range without a hitch. (knocking on wood now)