Are you set up to accept credit cards for your bead business? If you aren’t, you should be because you are probably losing business.
If you sell online, you probably know that PayPal is the way to go. PayPal allows customers to pay with their credit card without actually submitting the card details every purchase. This is both easier and more secure.
But what about when you have a show? Or a home party? Or a large order from the local bead store? Sure, you could go through hoops to make PayPal work but not only is that a pain in the neck, it also looks unprofessional. It could lead to losing the sale(s).
Opening a merchant account with all of the necessary software/hardware can be expensive. Wireless versions cost upwards of $900 and that doesn’t take into account the set-up fees, statement fees and any hidden fees.
So, what is a budding artist to do?
Whenever this question comes up the majority of people go with ProPay. ProPay is an online solution that doesn’t require setting up a merchant account or purchasing any additional equipment or software. Propay has one annual fee plus transaction fees. ProPay’s fee structure and features are clearly laid out.
With ProPay you simply take customer information and enter it into a secure computer browser either while they wait or at a later time. The more expensive packages allow immediate telephone authorization.
While ProPay provides a low-cost solution to those just getting started, there are also cons. Some of them are as follows:
- You will not have immediate verification as to whether a card is valid unless you use the higher plans and telephone in transactions on the spot.
- It takes more time to collect the information and input it later.
- Transaction fees are slightly higher than traditional merchant account fees.
- Some customers may not like you writing down all of their credit card information.
Many have weighed their options and determined that the pros outweigh the cons. What do you think?
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