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varga197
208 Posts |
 Posted - 07/03/2008 : 06:20:31 AM
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| Can anyone recommend a good credit card processing service/company? |
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GianniD
215 Posts |
Posted - 07/03/2008 : 06:21:29 AM
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quote:
Originally posted by varga197
Can anyone recommend a good credit card processing service/company?
Lynx, who Im pretty sure are owned by RBS. |
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varga197
208 Posts |
Posted - 07/03/2008 : 06:32:09 AM
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I'm looking for tips and things to avoid also when I sign up.
Thank you for your suggestions |
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propertylender.c
1293 Posts |
Posted - 07/03/2008 : 06:57:10 AM
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| I think pay pal has one. |
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Hustler12
1293 Posts |
Posted - 07/03/2008 : 07:25:46 AM
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| Easiest to get approved is thru Costco. Don't tell them you are in RE but instead in Financial Services. You have to have decent personal credit to get an account. |
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JoefromPhilly
661 Posts |
Posted - 07/03/2008 : 07:30:13 AM
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You can also go to http://Propay.com and get an online account. I use this service for processing the orders from my customers. Had an account for 5 years now with them. You just process transactions using their web interface. No equipment to buy or lease, and only a small annual fee. No monthly minimums or statement fees.
DON'T lease equipment or software. If you need a card terminal, you can buy them cheap online. I was in this business for 8 years back in the 90's, and know how newbies get taken with equipment leases and fees.
- Joe |
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cla
46 Posts |
Posted - 07/03/2008 : 08:00:13 AM
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Are you trying to do it online through website or over phone?
This determines the type of terminal you need.
Watch out for fees, AND especially for reserves. A reserve is when the credit card processing company keeps a large amount of your funds in the the event a charge back happens. I have seen people sign up for 30k reserves. If you dont have a bad track record with collecting credit cards, there is no reason any company should require you to have a reserve. Most companies out there will not ask you to sign up for a reserve. Very important.
Joe is right, dont lease equipment, the rates are unregulated and unbreakable.
If you are just looking to try credit cards, or just for an every once in a while option, then paypal is nice becuase there are no startup fees or monthly fees, and the rates are low. But you are still branded as Paypal (which some people like).
Good luck!
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varga197
208 Posts |
Posted - 07/03/2008 : 08:18:50 AM
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Thank you guys. Joe, can you buy equipment and use it with Propay?
thanks again |
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