1. Bob, this article should save many “little guys” some pain and money, not to mention avoiding anger and frustration.
    My wife and I do half a dozen arts and craft shows a year and sell on Etsy. We thought it would be good to get credit card service. Our first credit card service came through a bank. What a mistake! The fees, as you said, are many and high!
    We switched to Square, and we are happy. Instead of having fees for each sale, each month, each quarter and each year, we now have ONE small fee for each sale. WOW! What a difference.

  2. We sell at Farmer’s Markets and need to accept credit cards in a mobile format. We tried the Intuit Go Payment, and liked their interface, but we had a hard time getting their plug in dongle to work. We ended up using Square, and though their software still has limitations, the dongle is very reliable, smaller and easier to swipe through. Neither of them allow for “by the pound” sales. You need to calculate the amount ahead of time and enter it. If you sell items, you can pre-enter them to ring out faster. The software for both units can act as your cash register, letting you enter cash and check sales in addition to credit cards. They also keep sales records for you online which is very helpful when balancing out at the end of the day.

  3. Steve Brooks says

    This is a subject all business owners need to address. However, all businesses also need to account for their business transactions and one of the most abused is the lack to use accounting software for their business. Now here is where the problems start for businesses that take credit cards for payment. The end of month reconciling that should take place for everyone, becomes a nightmare trying to reconcile these individual credit card transactions into their accounting software unless the service offers an integration service into the software – most do NOT OFFER this ability. One does, however, and you did not mention them. If businesses use QuickBooks, Intuit (the makers of QB) offers Intuit Payment Solutions that integrates seamlessly with the QB accounting program, while their fees are not exactly the cheapest, the convenience to have the information integrated into their accounting program is priceless! I bring this up Bob, as I am a QB Consultant and I find every business owner I come in contact with to ‘suffer’ from these problems. I hope this offers some insight to a solution.

  4. Hi Bob, good informative article. No, I am not an Internet/Online Business Owner or Seller … However, I am a consumer of Internet/Online Businesses and Sellers.
    Since, I have been purchasing a variety of items Online, for many, many years now … I was one of the first to do so … Knowing that an Online Transaction could be very safe and secure. The thing, I look for is “options”, as a consumer. What I mean by “options”, is that there is not only one method of payment available. I don’t want just Pay Pal or Bitcoin or whatever the latest flavor of payments is currently. I want safe, secure, well-known methods of payment options.
    I prefer to use my Credit/Check Card/Debit card as my means to purchasing. Why? Simply because, my own financial institute has it’s own means of protecting my “card and account”. Trust me, I have used my card often enough, to know when I might be going “into muddy waters” … But, to date … I haven’t had my account compromised. Yes, my card itself, has been cancelled, due to Visa’s Data Breaches … Not my financial institutions, but, Visa! I must admit, the first time it happened, it was Visa that cancelled my card and issued me a new one. The second time it happened, about a year or so later … Visa again, stepped up to the plate, cancelling ALL compromised Visa Account Numbers and issued new cards.
    Through all of these cancellation of cards … My personal financial account was NEVER compromised!!! I know, I was very, very lucky. Now, my financial institution has an excellent method of “double checking” that I am in fact, authorizing the “questionable” charge, at the time of purchase.
    So, just for more information from a consumer’s standpoint … Options for payments, is the answer in my book.
    Thank you, Bob … For starting this wonderful newsletter The Rank File, in addition to AskBobRankin. I am so excited about learning more on Internet/Online Businesses.

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