Posted by Julie/IL on 10/29/10 7:21pm
Msg #358863

Opinions please on PayPal

I am starting a new business and I'm unsure of whether or not I should rent a credit card machine or just use Paypal. I'm not too familiar with either, so opinions would be appreciated. Thanks!

Reply by Cathy/CA on 10/29/10 7:57pm
Msg #358870

Where is your market focus? Will a large percentage of your clients use debit or credit cards to pay? If so, will it be in person? If so, the credit card machine will work best. If a small percentage of clients will use their debit/credit card to pay, the credit card machine is too costly (you have monthly fees, transaction fees, annual fees, etc. The monthly fees and annual fees are due no matter how many transactions). PayPal costs you only when you use it.
I wish you all the best with your business!

Reply by Julie/IL on 10/29/10 8:16pm
Msg #358877

I will be selling a product. At first, it will be through home showings and I will be adding a website later for ordering as well. I'm really not too sure on how many items will be sold through my website and how frequently. There will most like not be any international ordering but I guess you never know. I appreciate the pm's and forum answers. Thanks so much,

Reply by Charles_Ca on 10/29/10 8:36pm
Msg #358881

Check out Google Checkout, pun whollyh intended...

A lot of people bash PayPal but I have had good luck with it over the years (like 10), however Google Checkout does not have the same baggage, has lower fees and provides a free shipping basket for your website. I've been using Google Checkout's shopping basket for almost a year now and I am quite happy with it. Money transfers from Google Checkout to your checking account are much faster and easier than PayPal. thefees are on a sliding scale and Google Checkout reduces vendor fees with volume. Google it or go here http://tinyurl.com/2dfdwec

Good luck, I hope you do well in your new venture.

Reply by LKT/CA on 10/30/10 9:51pm
Msg #358996

Re: Check out Google Checkout, pun whollyh intended...

Agree with Charles......I too (highly) recommend Google Checkout (merchant account).

Reply by MW/VA on 10/29/10 9:39pm
Msg #358893

There are many options for accepting credit/debit cards. It's big business & everyone wants a slice of that pie. PayPal offers it, and so does Quickbooks (if you're using any of their software), even Costco.
I would research a bit & find out who's offering the lowest cost service. Good luck.

Reply by C. Rivera Chicago Notary Services on 10/30/10 4:53am
Msg #358914

I have a storefront office and at first thought about the cc

machine, but did some research and found that some of the prices for a machine can run from $500 to $1000. AND you got to have damn near stellar credit or link your business bank account to it (uh no) OR put a very large deposit down. Plus the wires - lots of wires, and you'll need a cash register to link it to, as some are not cable friendly if you have internet via cable, but you'll most def need a dedicated telephone line hookup.

I believe you will be better off with out a cc machine. When you do home shows to display your product(s), you should make it an easy transition from showing to purchasing. And one way by doing that is accepting personal checks (sort of risky though) or the preferred is to accept cc or dc on the spot. You could do this by setting up your laptop, have an internet connection of course, and have the PP up and ready. Customers that use and/or have a PP account, can easily log on directly and pay via their account. And for those that do not have a PP account, they can still use PP. The site allows them to proceed with the transaction w/out an account. Or you can walk them thru the process. Again, no account is necessary to use PP. Very simple process really. And since you would be a merchant, they have a few packages you can sign up for. I still use the Standard package. No monthly fees, only a few per transaction, like for $125 charge, they take out $3.93. Not bad considering there are no annual or monthly fees. You can also get a debit card with your merchant account, and make purchases as like a real checking or savings account.

Plus PP has great accounting and record keeping capabilities, very valuable come income tax time. You can even send invoices to clients, and charge a sales tax if your state requires you to charge this tax.

Good luck with your biz, and let me know if you need a place to 'showcase' your product in the city, I have a great space I use for weddings, and I have a friends that use it all the time for their product showings - fits about twenty people - I love to host, and would be more than willing to help you out!

Good luck!

Reply by C. Rivera Chicago Notary Services on 10/30/10 4:59am
Msg #358915

Re: I have a storefront office and at first thought about the cc

forgot to mention, that when you use PP and have a website, you can create the html pp buttons and load them onto your website.

I have found that Yahoo's Site Builder is very user friendly, especially for the novice or inexperienced. It walks you through the process very easy.

Once you have your website site set up, what I wrote above will be a smooth transition for your customers.

Just have your website up, and when they want to buy, they click on your PP button, and it directs the customer to a PP site. Then they can proceed from there....

Very easy process for those that take the time to read. good luck!

Reply by Julie/IL on 10/30/10 8:50am
Msg #358939

Re: I have a storefront office and at first thought about the cc

Thanks Cari for the offer and extensive information. I will certainly look into all the info provided. If/when the time comes, I will keep your invitation in mind as well! Thanks to everyone for your replies! It's really appreciated.