I suspect some hidden something in there. I've searched and searhced and searched on this subject for my own purposes...
There is the hardware (rent, buy, lease)
supplies (paper, ribbons) often included if you rent.
set up of this equipment - sometimes waived, can be $200 though.
Th equipment (swiper, printer, etc) start at about $500 and goes up from there. There are many places to buy the equipment. Lots of choices - PC, phone, wireless, and more.
There there is the processing service.
All seem to charge a monthly statement fee of $5 and there's no getting around this as far as I know.
Most all places have a min fee of 25 to $30. Your transaction fees (the 1.69% for SWIPES) comes off this but do the math - you'll have to do $1500 a month IN CREDIT CARDS ALONE to offset this fee. So if you do $800 in sales you'll pay $25 - that's OVER 3% in reality.
Some places want a minumum amount of activity although this is getting rarer.
Keyed in charges (like over the phone)cost more. Internet transactions may cost more too.
Some offer Visa/MC only and you have to go to AMEX/Discover on your own.
1.69% ... is that for ALL cards? Often rewards cards are higher, AMEX is often higher too.
You say portable? As in wirelesss? If so then add in wireless fees. (15 month or more).
Are there any batch fees?
I use paypal. I've looked high and low and I just don't do enough volume to make other solutions pay off. WeDJ has a cheap service that i've good things about. Costco offers a service too, but I don't think it's any cheaper than your local bank, but I'll be checking into this again as i'm now an executive member and qualify to use the service.
Message edited by author 2008-10-29 16:51:30.
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