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 Square and PayPal Here Transaction Times and % of Sales?

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Rootsman

  • Total Posts: 235
  • Joined: 7/9/2005
  • Location: Orlando, FL
Square and PayPal Here Transaction Times and % of Sales? Thu, 01/24/13 5:31 PM (permalink)
Planning to start using PayPal Here soon and have a few questions. 
 
1) How many seconds do these new tools add the transaction time as compared to a cash transaction, i.e., from the time the customer places an order to the time they walk away with there order?  Please indicate if you use whole dollar tax inclusive pricing or deal with coins.
 
2) What % of sales are cash vs. credit card?
 
3) Do Square and PayPal also require a signature in addition to the swipe?  Can't see handing customers my smart phone all day.
 
I know I'm leaving money per transaction on the table, but for convenience and quicker service times I currently use whole dollar tax inclusive pricing and can accept CC on my website.  A few customers will go through the major hassle of using their smart phones to access my website and pay that way.   
 
Based on your answers I may keep pricies the same, but exclusive of tax.
 
#1
    FriedTater

    • Total Posts: 414
    • Joined: 6/21/2008
    • Location: Badlands of New Mexico
    Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 01/24/13 8:53 PM (permalink)
    Question #1....Maybe talking 10 seconds more than a cash sales. Pretty fast.
     
    Question #3...Square does not require a signature for less than $25. I`d be awful afraid to hand my phone to someone for a signature. Put 3 x`s on there and send customer on his/her way.
     
    #2
      djdawg

      • Total Posts: 439
      • Joined: 10/1/2011
      • Location: Seattle, WA
      Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 01/24/13 10:01 PM (permalink)
      I was originally going to use Square but could not get the reader to work... I even used multiple readers.

      Enter Bank Of America... I did not even realize they had their own reader... very similar to Square...works great and the percentage per swype is less than Square.

      Most of my week is working the late night bar time so a lot of my customers are the younger crowd... many of them do not carry cash so being able to take plastic is a godsend. Sometimes I will swype up to 10 cards tonight, sometimes half of that, just depends how busy it is.

      All of my transactions require a signature and I have found that having them sign my phone is no big deal at all. I turn the phone horizontally and actually hold it for them and they sign it with their finger... I don't hand them the phone at all... works like a charm.
       
      #3
        chefbuba

        • Total Posts: 1955
        • Joined: 6/22/2009
        • Location: Near You, WA
        Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 01/24/13 10:52 PM (permalink)
        I have never given anyone my phone to sign, I just scribble on it so that it will go to the next screen, and show them the total charged at the end.
         I'm not handing my $700 phone out the window to people.
         
        #4
          brickboo

          • Total Posts: 330
          • Joined: 8/17/2012
          • Location: Fruita, CO
          Re:Square and PayPal Here Transaction Times and % of Sales? Fri, 01/25/13 1:11 AM (permalink)
          Finally at all places, I find a LG Optimus S Smartphone at the local Super Market that fired right up with my "Cleartalk" family plan and works with Square too. Life's good again for a while.
          Boo
           
          #5
            djdawg

            • Total Posts: 439
            • Joined: 10/1/2011
            • Location: Seattle, WA
            Re:Square and PayPal Here Transaction Times and % of Sales? Fri, 01/25/13 6:59 AM (permalink)
            Hey chef...sounds like your in an inclosed cart? I hear ya...that makes sense...I'm outside...right next to them so the phone thing isn't an issue...
             
            #6
              happyhotdogs

              • Total Posts: 25
              • Joined: 8/20/2012
              • Location: Canton, OH
              Re:Square and PayPal Here Transaction Times and % of Sales? Fri, 01/25/13 1:13 PM (permalink)
              I use PayPal/iPhone...was actually considering an iPad w/3G (enclosed stand) with possibly having a M-T-O (made to order) touch menu attached to the front of stand...just a thought when I have time to think too much, hahaha!
               
              #7
                LeftCoastLinks

                • Total Posts: 13
                • Joined: 4/11/2012
                • Location: San Diego, CA
                Re:Square and PayPal Here Transaction Times and % of Sales? Fri, 01/25/13 1:48 PM (permalink)
                @DjDawg- does bofa hold onto money at all before depositing it? Square is usually pretty good but every now and again it will hold on to a transaction for almost 30 days. They say it is to protect against fraud but a lot of reviews say it is to collect money on interest. I have a bofa account and if the transaction fee is less with a quick turn around I may use them instead.
                 
                #8
                  Buck & Vi's

                  • Total Posts: 822
                  • Joined: 4/19/2010
                  • Location: dodging,snakes,spiders,roaches, armadillos.opposso
                  Re:Square and PayPal Here Transaction Times and % of Sales? Sat, 01/26/13 7:55 AM (permalink)
                  been using square for about 2 years, I did have trouble with dropped sales that drove me nuts for a couple days ! e mailed square ( one thing I dent like no phone or online support) couldn't understand why it happened the same time every day 8:30 a.m. they kept assuring me glitch not on there end... phone was 3 g full.. full bars .....what was wrong?? come to find out virgin mobile cuts there data (whatever) down at peak times ?? i got a cheap pcs metro account and its twice as fast and no problems since.. i e mailed square with my apologies. by the way there is a button to push if you don't want to require sig. on the app. also where you can add tax, etc.
                   
                  #9
                    brickboo

                    • Total Posts: 330
                    • Joined: 8/17/2012
                    • Location: Fruita, CO
                    Re:Square and PayPal Here Transaction Times and % of Sales? Sat, 01/26/13 1:49 PM (permalink)
                    Anyone familiar with Intuit's Go Payment? I want to try them now that I have a phone that works. They claim that they never hold money more than 1 maybe 2 days. Check them out.
                     
                    #10
                      Rootsman

                      • Total Posts: 235
                      • Joined: 7/9/2005
                      • Location: Orlando, FL
                      Re:Square and PayPal Here Transaction Times and % of Sales? Sun, 01/27/13 9:24 AM (permalink)
                      Thanks All!  Any response on #2?
                       
                      #11
                        chefbuba

                        • Total Posts: 1955
                        • Joined: 6/22/2009
                        • Location: Near You, WA
                        Re:Square and PayPal Here Transaction Times and % of Sales? Sun, 01/27/13 12:20 PM (permalink)
                        Some days I have none, others 50% of my sales are cards.
                        I don't advertise that I take cards, so most use cash, some will ask, or will tell me that they are going to the cash machine next door. I just tell them,ok!
                        For me, it's a pain in the ass since I'm a one man show. Cash is much quicker. I dread taking a card when I'm busy. Something can burn within the time difference of cash/card and when I have four guys that all order together, then pay separately with cards, it takes a couple of minutes to complete all those transactions, burgers are burning or other food is not getting started, etc, etc. But I will still take cards just for the convenience of my customers.
                         
                        <message edited by chefbuba on Sun, 01/27/13 12:33 PM>
                         
                        #12
                          brickboo

                          • Total Posts: 330
                          • Joined: 8/17/2012
                          • Location: Fruita, CO
                          Re:Square and PayPal Here Transaction Times and % of Sales? Sun, 01/27/13 1:26 PM (permalink)
                          Craig,
                          You've said a lot for us folks to think about. It makes a lot of sense.
                           
                          I will be with my son a lot of the time and that will make it easier. If we do the little league, I just want to be able to take a card from the mom that wants to treat her son's teammates to a hot dog and sunglasses. I don't want her inviting everyone to meet her at McDonald's.
                           
                          Man I wish they would make all the fonts at least the size #1 like I'm using here on this forum. It hard to read the post in the normal font size used here on this forum.
                           
                          #13
                            chefbuba

                            • Total Posts: 1955
                            • Joined: 6/22/2009
                            • Location: Near You, WA
                            Re:Square and PayPal Here Transaction Times and % of Sales? Sun, 01/27/13 4:29 PM (permalink)
                            I did kids soccer for two years, 1500 people every Saturday, there are no moms treating their kids teammates to $50 worth of food and sunglasses.
                            The kids playing MIGHT get something after the game, most are drug home as soon as the game is over.
                             
                            #14
                              jcheese

                              • Total Posts: 739
                              • Joined: 3/5/2011
                              • Location: Fieldale, VA
                              Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 02/7/13 6:48 PM (permalink)
                              Just to add something....
                              Ordered the SQ. reader awhile back tho I didn't have a phone. Well, my daughter gave me her old 3gs phone and have been using it off my Wi-Fi. DL'ing apps and such. No phone service yet.
                              Got the SQ App and decided to try it. Used my own CC. It was super fast and easy! Hell, if nothing else I can put money in my checking account.
                              Wondering how safe it is to use an open Wi-fi signal for transactions.
                               
                               
                              #15
                                djdawg

                                • Total Posts: 439
                                • Joined: 10/1/2011
                                • Location: Seattle, WA
                                Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 02/7/13 7:32 PM (permalink)
                                Left coast....sorry about missing your question.  No I've never seen BOA hold any money at all.  I usually see it the next business day.  Now if I didn't have a BOA account maybe they would hold something but not sure.....it's very quick. 
                                 
                                 
                                LeftCoastLinks


                                @DjDawg- does bofa hold onto money at all before depositing it? Square is usually pretty good but every now and again it will hold on to a transaction for almost 30 days. They say it is to protect against fraud but a lot of reviews say it is to collect money on interest. I have a bofa account and if the transaction fee is less with a quick turn around I may use them instead.


                                 
                                #16
                                  THE WILD DOG

                                  • Total Posts: 1465
                                  • Joined: 1/12/2010
                                  • Location: Hunt Valley, MD
                                  Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 02/7/13 7:41 PM (permalink)
                                  I have both, Square & PayPal and Square wins my vote and has for the past 3 years. Flawless transactions, and PayPal denies cards and the same card works on Square. The only reason I even have PP is b/c I do a weekly inside sales gig at PayPal in my area and they test their product on me. It's not bad but I prefer Square...  Unless I'm doing events on weekends, I use PP and take my money out that day.
                                   
                                  As far as # 2  that is a question that can't really be answered, it all depends on your area and sales trends.
                                   
                                  #17
                                    crepeflipper

                                    • Total Posts: 18
                                    • Joined: 2/12/2012
                                    • Location: Salem, OR
                                    Re:Square and PayPal Here Transaction Times and % of Sales? Sat, 02/9/13 4:23 PM (permalink)
                                    We have taken square since day one.  I bought an ipad and use the register app.  I have icons of all the items on our menu (about 20 different crepes). Very fast, no sig under $25.  If someone tips I just key in the number. 
                                    The ipad app includes graphs showing day same sales by hour. Nice when you want to see how the days tacks up to last week. When I get home I download spreadsheets about exactly what sold.
                                    I can do that for date ranges or the whole season.  Now I can figure out item movement and track that back to my purchases ingredient costs.  Tracking that saves a ton more than the sales % costs me.
                                     
                                    Square is about 15-20% of our sales.  they tend to be multiple sales and the lunch crowd.  And if we cater a corporate gig the customer just hand me their corporate card, I swipe it, get the money next day, and they get a receipt in email for their reports.
                                     
                                    Also have a bluetooth speaker so we can have music via the Ipad. Fun.  And watch youtube or play games when biz is slow.
                                     
                                     
                                    #18
                                      Buck & Vi's

                                      • Total Posts: 822
                                      • Joined: 4/19/2010
                                      • Location: dodging,snakes,spiders,roaches, armadillos.opposso
                                      Re:Square and PayPal Here Transaction Times and % of Sales? Sun, 02/10/13 8:09 AM (permalink)
                                      crepe,how did you do the icons for all your menu? did or do you have a pos download or just icons? been trying to find someone who has done this. buck
                                       
                                      #19
                                        zumguteetz

                                        • Total Posts: 171
                                        • Joined: 7/30/2009
                                        • Location: Cincinnati, OH
                                        Re:Square and PayPal Here Transaction Times and % of Sales? Thu, 02/28/13 5:49 PM (permalink)
                                        Use it...like it...don't care about anything other than I do not have customers who walks when all they have is plastic. It's that simple
                                         
                                        #20
                                          brickboo

                                          • Total Posts: 330
                                          • Joined: 8/17/2012
                                          • Location: Fruita, CO
                                          Re:Square and PayPal Here Transaction Times and % of Sales? Fri, 03/1/13 9:28 AM (permalink)
                                          Ditto!!!!!!!!!!!!!!
                                           
                                          #21
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