Saw this on the news last night and googled the company. There are salespeople all over the country going from one small business to the next telling owners how they can save them bundles of money. It is only a matter of time before they hit the art show circuit.
Basically they promise really low percentages (verbally), you sign a 3 year contract and when your bank statement arrives none of the things they had promised are true. In the past they were making most of their money by making you lease a wireless terminal from them (another 3 yr. contract) and then charging a ridiculous amount for it each month. When I checked their site I saw that they are now getting into the smartphone swiper business also. Don't sign anything until you have googled the company and checked it out first! If it sounds too good, it probably is.
Payment Solutions Corp- no,no, no!
Comments
I've been happy with my Square. Very user friendly app on my iPhone. You know it was designed by the same guy who invented "Twitter". I just learned that. Makes since.
It's a well written, well designed program / app that's easy to understand and operate.
Glad to hear they changed that as it was one of the reasons I didn't go with them. I have heard a few people say they can only be reached via email and it was hard to get hold of them? Hopefully, that has also changed.
No limits on Square.
I was using, Cressent Processing Corp. They have a 2 or 3 year contract but you can only cancel on the anniversary of signing up, or pay $299 to end before the anniversary. Their fees kept going up. First year $31 per month after three years it went to $51.50 per month. Then they continued to do auto withdraw from my bak even after I put a stop payment on them They sent it in as a check and changed the account # by one, so my bank didn't stop it.... their card phone swiper didn't even work all the time..... I now use Intuit....
I have used PayAnywhere for over a year and am very happy with them. They have a lower rate than Square and I have my own account rather than sharing one with thousands of other people. I don't know if Square still limits the dollar amounts but when I was looking for a new company, there were limits to what you could take in before they held your money for 30 days. I also didn't like not having my own account as I've been doing this professionally for years. Their attachment is sturdier than the Square is based on what I have and what I've seen (iPhone). They are backed by North American Bancard--a real company. No monthly fees, etc., and someone answers the phone when I call. It doesn't hurt that they are fairly local to me as well in a real building although they service people all over the U.S. Anyway, I just thought I would throw them in as another option.
I agree! After 16 years of wireless machines and fees that just go up and up and up, I love my Square!
Agreed. I also recommend "Square". I used to be with Merchant Services, and paid out the you know what for the service / monthly fees / fees / fees/ and more fees. I then tried :ProPay" on the advice from a fellow artist friend, but, ProPay places limits on your income..., yes, you heard me right there, your income,.... for an undetermined amount of time they deem is worthy of getting to know you as their client. For very small business selling less than $100 dollar items, I suppose that "Pro Pay" would work -- it wasn't a good match for me. My best recommendation is "Square" https://squareup.com
Your biggest expense with Square will be the device you choose to use it with: iPhone, iPad.
btw, I'm new here. What a great forum. :)
Gregory,
I would suggest that you take a serious look at Square... I would never go back to a Merchant Account with anyone else.
Here's a link to a good discussion and comparison that is on the Art Fair Souce Book: http://artfairsourcebook.com/cgibin/gforum/gforum.cgi
Never heard of this company, but I am in the process of signing up with Merchant Commerce Co. and so far they've been great.
Thanks Janet. I have googled many things after the fact. It is too late then. I am trying to keep that in mind. I googled a used car that we were thinking of buying for one of our kids. Good thing I did. I didn't like what I read. The internet can be so helpful. When in doubt, leave it out.
If it sounds too good, it probably is. When in doubt, leave it out. Two good statements to never forget.