Credit Card Terminals, POS Systems & Merchant Account Fees

Hi All,
 
My Name is Bryan Tepus and I am an Executive Account Manager for Occent Merchant Services.  This upcoming year I am focused on helping restaurant owners with their merchant accounts and implementing top of the line terminals and POS equipment.  If some of you can take a few minutes to answer the following questions for my research, I am working on creating a special program for restaurants for 2011:
 
1. Who do you currently process credit cards through (i.e. B of A, First Data, Heartland, "X" Merchant Services?
 
2.  Are you able to see all of your transcations on line?
 
3.  What is the overall percentage you pay to process?  (i.e. Divide Total Fees by Total Volume)
 
4. What kind of equipment do you use? (i.e. Standalone Credit Card Terminal, Touch Screen POS)?
 
5. Do you know the name of your account manager?  Do you have their cell phone number?
 
and finally.....What are some of the expectations you have for your merchant services company/account manager?
 
Thank you in advance for you input.  I can be reached at bryan@occent.com with any questions.

I use https://squareup.com/  It's free monthly. They only fees I pay EVER are 2.75%+.15 swiped, and 3.75%+.15 keyed. Free equipment, Free app, Free online. Everything is free. You need either a blackberry, Iphone, or Droid phone to use it.  BEST EVER UNTOUCHABLE !!!

CASH! We like the green folding stuff!

I`m with Lorna on this one. I do strictly festivals, and after 11 years, I can count on the fingers of one hand the amount of times I was asked if I take credit/debit cards. People still carry cash. I would never, ever set my business up for cards. Besides, at the events I go to, I have no time to deal with them. Business is just too good to have to slow down and swipe a card. Cash only! Next! Ca-Ching...

Wild Dog -
 
How long have you been using them?  Are they only for mobile devices or can you plug their processor info into a POS system like Aloha?
 
I am getting ready to open a tasting room and the mobile app is ideal, but I own a quick service restaurant and use Aloha.

THE WILD DOG


I use It's free monthly. They only fees I pay EVER are 2.75%+.15 swiped, and 3.75%+.15 keyed. Free equipment, Free app, Free online. Everything is free. You need either a blackberry, Iphone, or Droid phone to use it.  BEST EVER UNTOUCHABLE !!!

 
I've been doing alot of research on this topic as of late, and I have to agree. Square appears to have the market cornered on the best prices.
 
-MC

The only thing credit cards do is INCREASE sales.
You may not experience people asking if you take cards because most people look to the credit card emblems on your cart/trailer/front door. 
accepting credit cards is as fast or faster than cash.  You can set it up so up to a certain amount there is not signiture required.   I have a online business and for 5 years have only had one charge reversal so that is not really a problem,  you will probably lose more $ per year from miscalculating an order total in your head than from a bad card.
Setups are easy and a customer cans slide his/her own card. 
 
just my charged 2 cents
 
Al

The problem is with vendors with inexpensive menus. If someone buys a meal for 4 or 5 dollars, using cc machines cut into the vendors already low profit margins.
 
-MC

MobileCuisine


The problem is with vendors with inexpensive menus. If someone buys a meal for 4 or 5 dollars, using cc machines cut into the vendors already low profit margins.

-MC

 
maybe so, but people tend to spend a bit more if they use their cards
 
but you have to do your homework,  if you can accept cards at a decent rate, and they are out there, then it is worth it.  but if transaction fees and percent is high then I agree that it might be cost prohibitive. 
 
you can always set a minimum

i use

Square just updated with no signature under $25.00
I don't  think the .15 applies unless you enter the card # manually, just the 2.75%
For the average order on a mobile operation, other options are more expensive and too complicated.
And yes, I do think that taking credit cards can increase sales - if  the customer has cash, that's what they'll use, but there is the potential for a larger sale.

For now we are going with a Sam’s merchant account. For $54.95 a month they supply a wireless card reader and the line. Transactions are around 1.29% + .15 each, except for American Express which is close to 3%. We looked into getting another line and a smart phone for using Square Up.  Phone line $15 + $29.95 for the data plan, but for $10.00 more it seemed worth it for wireless card reader that prints out a receipt. We are mainly doing this for working the Food Truck Parks in Atlanta. However, we have noticed more and more people wanting to know if we accept cards at the festivals we do. Young people seem to rarely carry cash.

Well, bite my tongue and lick my calf, last Dec. 28, 2010 you can read what I had to say about credit cards in above message #3. Since then, I`ve signed up for both squareup and payanywhere.com. Yes Jody, I`ve run into young people such as you mentioned who don`t have a penny to their name, so I started accepting cards. I like the terminal from payanywhere.com best, it fits much nicer to the smart phone than does the squareup. Also, any sale under $25.00 customer does not have to sign. I also explain to the customer that I can`t give them a receipt, they don`t care. I swipe the card, enter amount, show customer their charges, and then ok it. Piece of cake. Its a pretty fast transaction. I`m surprised at that.  Took a while for me to adjust, but this is the thing of the future. Like John Mellecamp (sp) song went "If your not part of the future, then get out of the way." Something like that.

Nice thread guys....
 
I just had an idea...Not sure if they still have them or not....But they used to have phone mounts with padding that you could mount into your car dash by screwing them in.....
 
This might work well so you can always have the phone stationary for swiping.