Taking credit cards

[genek]

This week we changed from using square to using Elavon.
We were talking to our bank over what happened to Target. I found out that Square does not back it's user nor does it have any insurance to protect it's user. Taking credit cards comes with a liability. I recommend that those that take credit cards talk to their local bank. Squire has never told us that all merchants are required to comply with pci-dss

Merchants of all sizes must ensure that cardholder data is protected from a security breach. and that a typical breach costs a small business merchant $25,000.00 to $50,000.00 square does not offer insurance to cover those cost if they occur.

We now pay a fee each month to have that insurance. You can not get it with square and other card readers.

Talk to you bank about a card reader. most now offer a device like what we used with square but more robust. and it gave me the option of just calling to get approval and use a card imprinter.

I do recommend that all take credit cards. you can pick up more sales than you would without it.

[GeneMpls]

We also use Elavon thru Costco. We have a PC based
setup with a USB card reader. Works a treat. Gene

[bleeth]

Has anyone used Paypal's reader? Is it insured against security breaches?

[bleeth]

A note: Looking over paypal's it says any amount over 2500 won't be available for 30 days.
That would be a deal breaker for folk's using it to sell larger ticket items.
Also note when using Paypal money goes into your paypal account and you need to transfer it to your bank through their site. They say that can take 4-5 biz days. When I took credit cards my processor got the money into my account overnight most times.

[Brian Harnett]

I have been using pro pay. These days if you sell retail credit card processing is a must.

I like pro pays card reader it will store info to hook to the computer later for processing in areas with no cell service.

[kartracer63]

I use PayPal as my card merchant (processor) with zero problems.

I think there are transfer limits until you become certified (or something like that). I have no problems transferring as much as I want, or as often as I want from my PayPal account to my bank account. I usually have the funds in my bank account within 2 business days.

I probably have just as many customers that pay with funds from their PayPal account as I do paying with any of the four major credit cards.

PayPal is a big deal and shouldn't be ignored as a possible payment option for your customers.

[genek]

I have been using pro pay. These days if you sell retail credit card processing is a must.

I like pro pays card reader it will store info to hook to the computer later for processing in areas with no cell service.
Brian do you have insurance through pro pay?????

[Simops]

I use PayPal as well for both sales and purchases. Customers, including myself, prefer to buy merchandise over the net via PayPal because they have excellent buyer protection from unscrupulous sellers....especially purchases done through eBay. As a seller my customers know they are protected.......but then I guess other credit card schemes are the same??

Cheers

[genek]

I use PayPal as well for both sales and purchases. Customers, including myself, prefer to buy merchandise over the net via PayPal because they have excellent buyer protection from unscrupulous sellers....especially purchases done through eBay. As a seller my customers know they are protected.......but then I guess other credit card schemes are the same??

Cheers

I use Pay Pal however I have sent them a message to see if I am protected if their system gets hacked and if it does who is liable them or me.
I have not got a response back yet.

[Simops]

Eugene....common sense would say that PayPal, as the provider of the service, would be responsible for their system being hacked.......so interested to see what their response is!

Cheers

[genek]

eugene....common sense would say that paypal, as the provider of the service, would be responsible for their system being hacked.......so interested to see what their response is!

Cheers
I know, but I would have thought that about square... Turns out they do not protect the user only their self... If they get hacked and a law suit develops you are on your own that is what I have been told. Hopefully pay pal protects us... I use them for on line orders.

[myxpykalix]

I signed up for paypal when they first came out, long before ebay bought them and although i don't do transactions of thousands of dollars, when i do a transaction i make sure that if i'm designing or cutting something to be shipped off that it takes at least as long as the 3 days for me to get the money into my account and then i go and withdraw that money so that neither the person or paypal or the bank can take that money back.

I have several "single purpose" accounts at several different banks simply for this reason. If you have a reversal and the bank can't take it out of that particular account they will take it out of your savings or other account if you have multiple accounts with the same bank.

As long as you are not the one doing any scamming, why should you be the one who has to lose the money.

When i was working with the lions and tigers years ago we had a bingo parlor and rather then keep the money in the bank we would cut pieces of pvc pipe with caps put cash in it and bury it in the center of our lion cages.
That was way safer then any 2" thick safe that was for sure.

For alot of local transactions i've gone back to a novel concept called CASH!:eek:

[cnc_works]

I have a debit card attached to my Paypal account which makes funds available immediately. Don't know what the daily cash limit is though. And, despite the horror stories out there about Paypal, I've never had any issues with it at all.

[bleeth]

Been doing a little "shopping" on this. Paypal's mobile scanner, Square, and the Jak used by Elavon are all PCI approved. Elavon, which is also the only one that charges for their reader, is also the only one that offers their own insurance for additional charges. They are also the only ones to require a monthly fee. Since they are owned by Wells Fargo there is obviously a certain comfort level in being serviced by a mega corp, but Paypal isn't exactly a piker either. I have trouble thinking of a hacker going into my piddling account, when in reality they are after the fish that they can really make some money from.
If one is doing a whole lot of business with their portable reader the dynamics may be different in such a way that the monthly fees offset the lower transaction rates at Elavon via Costco.
I can tell you, from my previous experience in the business as a young guy working in finance in the lending industry, that insurance offered by financial institutions as add-on's is usually the most expensive you can buy.

[Brady Watson]

[QUOTE=myxpykalix;158574
When i was working with the lions and tigers years ago we had a bingo parlor and rather then keep the money in the bank we would cut pieces of pvc pipe with caps put cash in it and bury it in the center of our lion cages.
[/QUOTE]

That explains a lot. I had a hunch you were a carny or might have been in the circus! :D:D:D

-B

[myxpykalix]

Brady,
Not quite the same....(but close), more like a small circus. :eek:
We had one box truck (like a uhaul) that we had to drive our lions and tigers in sometimes across the country.
The funniest thing is when we would pull in for gas and want to impress chicks we'd tell them we had a lion in the back (which they never believed us) and we would flip oven a barred opening and that BIG face would be right there!
We scared plenty of "lot lizards":D:rolleyes:

[Brian Harnett]

Brian do you have insurance through pro pay?????

Not sure if it has or not I will have to check, the reader encrypts the info we do not keep personal information besides customer telephone and last 4 digits of the card.

[myxpykalix]

It would seem to me that the system needs to be setup so that when a card is swiped a verification can be done real time with the card issuer and the company who is doing the selling would not have the ability to keep on file your credit card information (like target) where hackers can steal them but it is just approved but not kept on file by anyone but the card issuer.

That decreases the amount of places that could be hacked for the info. Think of how many places like stores and online who you have ever used your credit card with who have all your info ready to be stolen. Maybe that and a fingerprint reader.
Several years ago i had my picture put on the front of my credit card (like my avatar with the lion) so if someone who looked different then me tried to use my credit cards it would be obvious.

[80grit]

Has anyone ever had a customer ask to give you their card info over the phone? I'm just now getting into accepting credit cards. I had planned to just use PayPal to email invoices until my volume could justify another service.

I asked a customer for her email so I could send her an invoice for her to pay with a credit card. She said she would rather pay over the phone because the item she purchased is a gift for someone she shares an email with. I don't understand the logic behind it, but I don't believe she is trying anything sneaky. I just think she's not all that comfortable with computers.

What's the best way to handle this? I don't have a card reader or anything. Could I send an invoice to myself and fill in her CC info when she gives it to me? I'm really not comfortable having that info.

[bleeth]

Credit card info over the phone is very common. Your CC servicer will tell you how to handle it. Depending on the servicer there may be a higher percentage charged for non swiped/scanned cards.
Using her card to pay a contrived invoice to yourself may be against Paypal rules. One of my friends uses Square and if it is a remote sale they have an entry system for payment:
https://squareup.com/

Here is info on taking payment without card:

https://squareup.com/help/us/en/article/5176-manually-key-in-card-payments-without-the-square-reader

[genek]

Do not send your self the bill and use her card. You could get charged with Fraud. check with pay pal. I use both pay pal and square. i have found that Square is much esier to deal with.

[genek]

The new cards will have a chip in them and you must have a chip reader to avoid being scamed. I think this goes into effect the end of this month.

[80grit]

Thanks for the info. I just signed up for a Square account. I guess I'll have to buy a new chip reader soon for $49.

[genek]

I would go ahead a buy the chip reader. Yu are responsible if it is a fraud card with out the chip reader.

[rseeley13]

We have used paypal with no issues and have us set up to transfer to bank right away. We have the money in our bank account within 1-2 days and anytime I had to call the support was fast except when I called last month about the new EMV law that went into effect on Oct. 1st. It was so new that they had to keep transfereing me to get to the right person that knew the law. Turns out that you are liable for any purchases that are not run through the new chip readers. Doesn't matter if it is over the phone, via invoice, etc. The only way any credit card company will take the liability will be if it was run as a emv chip card transaction. Now as far as details cause I asked on Sept. 29th cause no one had the new readers yet if the law would go into effect and no one could answer that. All credit unions, banks, and credit card companies have to switch over to the new chip on your cards. I know a couple of mine have but my credit union hasn't yet and when I asked they said they are trying to get them out as fast as they can. We don't have any real large dollar amount purchases like cabinets and stuff so our liability is smaller. However if you do have large ticket items I would only take credit card with the chip card because as paypal and the bank said. The customer has 180 days to do a charge back or state that they don't remember anything about the charge and now you are liable for that and not the credit card company like in the past. However if it was a EMV transaction then they take the liability, I could keep typing but it is too hard with one hand so I will stop.

[Davo]

So this makes a paypal payment link completely useless now I guess...

Cash only.

Question is how do they narrow down WHO is responsible if you shop a bunch of places without EMV readers and there is fraud