Accepting Credit-Card Payments (continued)

Merchant accounts are available from some banks and from online issuers.

The application process can take weeks (if the bank keeps asking for additional requirements) and odds are you will be quoted a rate higher than the advertised rate.

Some things to know:

• Ask for a disclosure of all fees and read 'Terms of Use' closely.
• Don't lease equipment - better to purchase with your credit card if you need installment payments.
• Merchant Banks can single you out, increase your fees and your 'reserve' at any time.
• The lowest rates often require multi-year contract commitments.

A Costly Option

Perhaps the most expensive option is consignment software with X-Charge - expensive for 3 reasons: The consignment software itself costs a lot more than competing products without X-Charge; total credit-card fees may be higher; the consignment software vendor gets an (undisclosed) percentage of each of your credit-card sales for pushing X-Charge. Yes, that should be disclosed. No, it's not.

BCSS and Credit-Card Processing

BCSS is not tied to one credit-card processor (like X-Charge) and we don't get kickbacks from your sales. This allows you to find the best merchant account (perhaps from your local bank) and use it in conjunction with our software. Just swipe, enter the amount of the sale and select the card type from a drop-down menu. The amount of the sale is auto-entered.

More About PayPal

PayPal simplifies matters - consolidated concise records and online access to transactions and statements (not available with many merchant banks).

• No software integration with your PC required
• No hardware to buy
• No software to install
• No merchant account or credit-card processor
  • No annual commitment or fees
  • No startup or cancellation fees
  • No fixed monthly fees
  • No lengthy credit application
  • No gimmicks like bait/switch fees, broken agreements
  • One source for records, easy reports and administration
• Owned by reputable eBay - You are less likely to be mistreated.
• Create unique log-ins for your employees
• Email receipts to customers
• Excellent fraud protection
• Generate custom packing slips
• Optionally accept phone, fax, mail payments (monthly fee)
• Process transactions for customers without PayPal accounts
• Processing fees (2.9% to 3.1% + $0.30 per transaction)
• Ship to non-billing address
• Shipping and tax provisions
• Visa, American Express, MasterCard and Discover
• Website processing fees (1.9 to 2.9% + $0.30 per transaction)

Wireless Credit Card Processing

With PayPal it is now possible to accept credit cards remotely from anywhere with a hand-held terminal.

As a matter of disclosure, BCSS will receive a small one-time referral fee by PayPal should you chose to process credit-card transactions through them, but only if you access the PayPal site through the link we provide.