Card payment machine.

[James1979]

We use Izettle, I choose it because it allows you to send an invoice, or a text link, but the charges are as quoted higher if not present.

The phone/ card reader is really good for folk who move about and have various customers here and there.

Best thing I bought for the business last year. When people dither about getting cash or some other nonsense why they can’t pay it puts them on the spot when you say you’ll take a card.

Has reduced the amount of chasing money to nearly nil.

Square let’s you text or email a receipt also.

 

[roofman]

I use a Sumup box at the art fairs I do.
Never had an issue.
Payments always come through very quickly.

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

 

[julianf]

my partner has square.

they charge for the hardware, BUT....

she went through a cash back site, and it actually worked out that she made a profit on the hardware (ie the cashback was greater than the registration [hardware] fee)

 

[addjunkie]

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

2 to 3 days with izettle. Depends on your bank. I find ours is about the same as stripe for our internet sales.

 

[James1979]

2 to 3 days with izettle. Depends on your bank. I find ours is about the same as stripe for our internet sales.

i think that’s how they make their money? Short term high interest accounts?

The hardware is probably a loss or tiny profit and the percentage isn’t great.

If I pay a fee (no idea - never done it) they will do an instant transfer rather than wait till next day.

 

[ajlelectronics]

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

Usually next working day.

 

[MysterG]

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

Frequently next day. Never longer than 3.

 

[addjunkie]

i think that’s how they make their money? Short term high interest accounts?

The hardware is probably a loss or tiny profit and the percentage isn’t great.

If I pay a fee (no idea - never done it) they will do an instant transfer rather than wait till next day.

There charges are how they make their money. When you do your books, export the data in to excel and look at all the charges involved over a year. It sharp adds up. In actual fact all the little bits you shell out in the name of doing buisness, bank charges, websites, domain name, etc etc etc. Its quite scary!

 

[premmington]

I use RMS - got terminal that has a SIM card in it - so it can use wifi in the workshop and I can take it with me - to deliver cars (and get payment).

Mostly my account and good customers who are younger to middle aged pay me by BACS - as fees are less to take the money.

Hardly see any folding stuff now. Odd bit...

 

[Justme]

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

With square as long as the transaction is before the daily cut off time you get paid the next day. They also offer faster payment options too.

 

[premmington]

What do you call quickly, 1 day,3 days?...looking at getting one myself for easier payments now paper cash is disappearing from the method of payment for small jobs.

I refuse to pay for "faster settlement" - next day or anything like that. Once you into the loop - 5 days from a merchant account - is OK.

Once you over the first five days - it is just like working a week or month in hand - in a normal job - the money keeps coming while you are working.

All businesses should have a float to meet a certain period of trading. Paying extra for "faster payment" - is just another cost I don't need.

 

[addjunkie]

I use RMS - got terminal that has a SIM card in it - so it can use wifi in the workshop and I can take it with me - to deliver cars (and get payment).

Mostly my account and good customers who are younger to middle aged pay me by BACS - as fees are less to take the money.

Hardly see any folding stuff now. Odd bit...

That is far cheaper than the options mentioned above!

 

[premmington]

There charges are how they make their money. When you do your books, export the data in to excel and look at all the charges involved over a year. It sharp adds up. In actual fact all the little bits you shell out in the name of doing buisness, bank charges, websites, domain name, etc etc etc. Its quite scary!

Yep it does - I got a little spread sheet of what it actually costs me to operate.

And on the very few instances I got very little work on - I spend the spare time - working thru it and my suppliers - driving the the cost of this down.

--------

Old saying - expenses are like a monster - you breed it - it grows and it needs feeding - day in day out - week in week out - it is always hungry and it will feed itself before you get to eat.

 

[premmington]

That is far cheaper than the options mentioned above!

You gotta shop round for these POS card deals - don't get drawn into "the fast settlement - hard sell thing" - it has no real value once you get rolling with one. The payment is either authorised at the point of sale or it is not. If a customer wants to do a chargeback - it is no safer getting your money quicker.

Any big payments need to come by BACS now - @roofman I would not dream of paying a roofer for a big job by card payment myself. Small repair jobs would be cash on the day and big strip/scaffolding/reroofing would be part payments via BACS - some upfront and rest on day of completion in my mind.

Reason being I want tradesmen to say yes on the phone when I ring and want a job done. Several times over the years - I rang people for little jobs and they indicate they are busy stacked out. Then I give them the "I always payed you on time for the big jobs you done for me - what do you think you not gonna get payed" - guilt them into doing it for me (because all of them have been knocked before). Paying on time and in full - does get people to do things for you - it does work.

 

[addjunkie]

You gotta shop round for these POS card deals - don't get drawn into "the fast settlement - hard sell thing" -

I think sum up izettle etc are aimed at smaller business, As cash is a dying tool, they work and serve a purpose. And a great tool for the one man band to get paid, gets them round the “sorry mate Ive not been to the bank line”.

Paying on time and in full - does get people to do things for you - it does work.

This is what I do, BACs, but always agree in advance how they want paying. My son in law does some contract sheep shearing, He gives them the invoice on completion, most pay quite quickly, one or two have taken ages in the past. Now they pay by card on the day, or he doesn't come.

 

[cheb]

Are there any safeguards for your money if the card machine company go out of business? Or are you just on the list of ordinary creditors and therefore unlikely to see anything back?

 

[MysterG]

I think sum up izettle etc are aimed at smaller business, As cash is a dying tool, they work and serve a purpose. And a great tool for the one man band to get paid, gets them round the “sorry mate Ive not been to the bank line”.

Totally agree. Even at art fairs most want to pay by card these days.
Although strangely at one art fair in Bath a chap who has now bought four pieces from me always pays in cash ... perhaps he's money laundering

 

[James1979]

Totally agree. Even at art fairs most want to pay by card these days.
Although strangely at one art fair in Bath a chap who has now bought four pieces from me always pays in cash ... perhaps he's money laundering

I find that. The last one we did was
Only about £30 in cash.

I also find once they find out you take card they are inclined to spend more

 

[Olderisbetter]

We have 2 square units and the only issue we ever had was they would not connect to a cheap chinese phone, i think it was huwaii or xoimi but all good with samsung

 

[My Old Landy]

I find that. The last one we did was
Only about £30 in cash.

I also find once they find out you take card they are inclined to spend more

I think that is because cash is finite and you can see when its gone. I liked cash for that reason, it is too easy to over spend at a show using a card!