Pretty coo way to get paid. Anyone seen this yet? https://www.paypal.com/webapps/mpp/credit-card-reader
I've had the Square one for a year and a half or so. Seems to work pretty good, but I punch more numbers in than I do swiping cards.
My thought is that it is only beneficial for customers that you know can be on the fence. From those people it is best to complete the transaction on the spot. Some people are good paying and would love to use their card for points, miles etc. But if they are good paying I would rather get cash or a check and avoid the transaction fees. Credit cards loose their appeal when you slap them with transaction fees. So you either don't care and take a hit on your profit margin, pass on the expense as a transaction fee, or upcharge the shoeing bill. I'm no Rocket Scientist so I'll just stick with the stamps for now, or collect on the spot.
I only have one customer that uses it on a regular basis. She bounces around between here and Arizona, if she's home I get paid within a day or two if she's in Arizona it may be 3 or 4 weeks. With the card reader I get paid every time within 2-3 days. She has 46 horses so it wouldn't take long to run up a big bill in 3 or 4 weeks. Others use it every once in a while, I try not to let everyone know that I have it. The best part is it doesn't cost anything to have, you're only charged when you use it.
What billing I do I send out by e-mail. When I started doing that it seemed customers started paying better because over here most people use net banking to pay bills. All new customers pay cash.
I really like the sounds of this. I think some of my customers who aren't much for paperwork would like this also.
