Mobile credit card payment advice needed...

[Danny_28455]

Hi folks,
i am just in the process of going to my bank to enquire about merchant banking facilities, i'm told that the machine i need is a PDQ🙁..No idea what that is yet.

Can anyone enlighten me on the best form of accepting credit cards while on the road, the most efficient and idiot proof ideally, also anything i should be weary, or cautious of whilst processing payments.

Thanks all in advance.

PS: This will be a complete new experience for me, so laymans terms would be nice.

 

[Blackcatgas]

This is what i was offerd last year, 1 off payment for machine £350, then £40 a month rental for machine and line rental.

 

[Dannypipe]

I joined the Federation of Small businesses (after advise from this forum) which cost me £150.

This meant I was entitled to a free mobile card machine from Stream Line, plus cheaper monthly payments.

I pay £35 a month.

They take a percentage of every transaction you make. It varies if its a debit card as opposed to a credit card.

I arranged all the merchant bank stuff through Natwest (my business manager).

My machine turns up tomorrow! Today one of those old fashioned slide things turned up as a free back up. You know the things you saw in the 80's where you put your card in a machine and slide it back and forth and it imprints the details on a slip....I'll never use that, but still, nice touch.

 

[Blackcatgas]

Its not a bad Idea really, especialy if your doing say 6 small jobs a day, also it would enable custards to pay you with thier credit card so they maybe more likely to go ahead with things.

 

[Dannypipe]

I don't reguarly do as many as 6 small jobs a day, but I figure it will be useful. No waiting for cheques to bounce or arrive. You can instantly take payment there and then.

I don't know if Streamline will get the hump that I'll only use mine a couple of times a week? Oh and it's a three year contract...quite a tie really.

 

[wnjswozo]

yet more overheads,i would hold on until they sort this cheque issue out,i think there will be better offers,regarding these machines
was told that the banks may be introducing a AP for mobile phones to process a card payment,but for me cash is king

 

[Dannypipe]

For everyone cash is king, but most people don't carry that many notes in their pockets.

I still don't believe cheques will ever go. Had a meeting with my accountant on Friday and he agrees.

 

[dontknowitall]

I don't use these - money scam as far as I'm concerned. I try for cash and if a large payment it's surprising how many people do internet banking. Both of these are free (as long as you don't bank the cash). Cheques are always fine by me but if I know I'm going to receive one I often add £5 to the bill - it's the hassle and time consuming effort (and bank charge) of paying them in.

 

[justlead1]

Offering this form of payment can win customers and save their embarrassment when short of funds. I do not use a mobile machine (pdq) I think they are more expensive, but one based in an office in order to take payments over the phone at any time of day and night. It also offers an audit trail when doing the accounts. And accelerates cash flow. "The cash is king" is a great way to work and pay little tax, but once at the age of retiring, a business without good books is worthless and the old age pension is an existence not a life.

 

[oldplumber]

as of june there will be no cheque garuantee cards available for use, stops the banks being ripped off I gather, doesnt help us though!!!!!!

 

[tamz]

There is also this
https://www.paypal-business.co.uk/take-credit-cards-over-the-phone-with-paypal/index.htm

£20/month plus up to 3.4% of your cash.

Say you do £2000 on 10 transactions on a card over a month. That would be £80 /month in charges.
All more money for the banks and unless you add 3% or something to your invoice if they pay by card to cover your costs, you are talking the price of a decent holiday here (and they will also add 2.5% if you pay by card🙄)

 

[Puddle]

In this economic climate it is good to be able to let customers use their credit cards,gives you a edge,used to loose work to bg and the likes as they let customers put on gas bill,even though they cost a lot more)another option I used was before I took cards ,my merchants used to let my customers pay them a general payment by credit card and credit to my trade account,they would not release any cash but you could use for materials for other jobs were customers could by by cash or cheque

card charges are a rip off though,think there should be a upper limit per transaction,on a couple of boilers,they are taking a big slice

 

[Dannypipe]

I'm not entirely sure how much stream line take per transaction of mine? My guess is around 3%....a lot, but nothing compared to the trouble caused by a rubber cheque, or waiting and waiting for a payment to turn up.

Instant transfer into my account...plus as you say it gives you an edge. Need to update the website to say we accept it now.