No more Coins..CC or Cash Only..Very Nice.. 54% Cards.

[Earl Weiss]

I'm still curious whether Earl is doing count up or count down. 5.5% is pretty good. I think something that gets overlooked and not mentioned when we talk about credit card fees is whether you are doing count up or count down. Because your fees WILL be higher with count up as it costs to do the pre authorization necessary to use count up, where as in count down there is no pre authorization required.

Count Up (Using First Data)

 

[Earl Weiss]

................. My simple thought and observation is: people would rather not use coins.. in todays world, it's plastic or bills..
Doug

My observation - Demographics matter. I offer Bills, CC and quarter acceptance in Bays. Still get plenty of quarters. If people really did not like using them there is no reason they would , yet there they are. I Sell gasoline in the City of Chicago and know people who sell in the burbs. CC Use is higher in the burbs. Same with an operator of a SS and IBA. His % CC Use is higher than mine.

 

[CarWashBoy]

Count Up (Using First Data)

Thanks Earl for the info.. I will contact First Data tomorrow..

 

[JustClean]

Do we really want to go cashless? It's starts a bit here and a bit there and eventually there will be no cash anymore and what then???
We will be at the mercy of our Government.
If there was no cash and the Government doesn't like you
- they can turn off your food
- they can turn off your transport...you still could walk or ride a push bike
- you can't save money if the Government doesn't want you to do it
- Just think negative interests: If cash is not permitted anymore you will have to pay to have funds in the bank and we
already have low interest. What's next?

Forget gun laws - this is worse!

 

[mjwalsh]

JustClean,

All valid points! This is why as many of us as possible should be vigilant & have courage when misinformation is spread as to what is the best fit & best ways to accept & process physical money!!! Lack of a healthier option of higher denomination coins to correspond to the reality of 10+ fold inflation in the USA is a critical "shooting ourselves in the foot" impediment ... based on decades & even centuries of actual experience.

mike walsh www.kingkoin.com

 

[Earl Weiss]

Do we really want to go cashless? !

FWIW OP went coinless, not cashless.

 

[CarWashBoy]

FWIW OP went coinless, not cashless.

Earl.. thanks for pointing that out.. Cashless is a long way off..

 

[blurdgman]

Hi.. I operate a 6 Bay, 8 Vacuum Self Serv.. in January of 2015, I did a total update to the site.. New Vacs, Bay Controllers, Bill Breaker etc.. I ditched all coins and tokens etc.. I went Bills or Credit/Debit with CryptoPay..all Bays and Vacs.. after 1 yr of operation we are averaging 54.3% Cards.. our GROSS REVENUE on the site is up 88% over same period in 2014 (exactly 1 yr) .. Very Nice, no coins to mess with etc. Customers love it.. My Credit Card fees are confusing to me.. I know this question has been discussed, but what is the final result of fees with CryptoPay and Worldbank all in, combined??.. I come up with 8.1% overall.. is this in the ballpark? Your input will be most helpful and appreciated.. don't get me wrong, I'm not complaining, just curious..
Thanks in Advance..
Doug..

I use Washgear with TSYS merchants. My past year's costs were about 6.4%. When I started with TSYS years ago it was about 5%. Now I'm looking into CryptoPay, am I going backwards? Can you use TSYS merchant service with CryptoPay?

 

[MEP001]

IIRC you can only use WorldPay with CryptoPay.

 

[Earl Weiss]

IIRC you can only use WorldPay with CryptoPay.

I have Cryptopay with First Data.

 

[MEP001]

That must have been it, I just called them a few weeks ago and they said they only work with one service.

 

[harpua]

Hi Doug,
Curious what in-bay controllers/panels you went to that were without coin acceptors?

Thanks!

 

[blurdgman]

Hi.. I operate a 6 Bay, 8 Vacuum Self Serv.. in January of 2015, I did a total update to the site.. New Vacs, Bay Controllers, Bill Breaker etc.. I ditched all coins and tokens etc.. I went Bills or Credit/Debit with CryptoPay..all Bays and Vacs.. after 1 yr of operation we are averaging 54.3% Cards.. our GROSS REVENUE on the site is up 88% over same period in 2014 (exactly 1 yr) .. Very Nice, no coins to mess with etc. Customers love it.. My Credit Card fees are confusing to me.. I know this question has been discussed, but what is the final result of fees with CryptoPay and Worldbank all in, combined??.. I come up with 8.1% overall.. is this in the ballpark? Your input will be most helpful and appreciated.. don't get me wrong, I'm not complaining, just curious..
Thanks in Advance..
Doug..

How do you get reports from your Cryptopay system? Do you go to a web page that gives you your information? Can you tune in and know how business is on the CryptoPay during the day it's happening?
I would appreciate hearing any information about this.

 

[Earl Weiss]

How do you get reports from your Cryptopay system? Do you go to a web page that gives you your information? Can you tune in and know how business is on the CryptoPay during the day it's happening?
I would appreciate hearing any information about this.

It's on the web. (I never use it. Just wait for monthly statement).

 

[cellardale@aol.com]

Mine is 5.5% with Cryptopay. total

 

[Earl Weiss]

Mine is 5.5% with Cryptopay. total

Last Month with First Data it was 4.6% all in. I think better months have a slightly lower % . In some months it runs 5.5%. (Note, this also averages in the EE Transactions.)

 

[blurdgman]

My all in with First Data / Cryptopay is about 5.5%. ( 8 SS bays and Tunnel)

Earl: I was told that I could not have First Data with Cryptopay and that I must use World Pay.
Who is your conyact at First Data? I called First Data and they told me they couldn't service Cryptopay.
Thanks
BluRdgMan

 

[blurdgman]

8%+ seems high to me. Mine are around 5% by using TSYS with my WashGear system.

Jeff:
I use TSYS and Washgear. If I take a whole year's TSYS costs and a whole year's income my cost rate is 6.23%. TSYS charges fees forcertain months.

 

[Earl Weiss]

Earl: I was told that I could not have First Data with Cryptopay and that I must use World Pay.
Who is your conyact at First Data? I called First Data and they told me they couldn't service Cryptopay.
Thanks
BluRdgMan

I don't recall the rep who set me up but the customer service phone number on my monthly statement from Associated Merchant Services is 877 273 8191

 

[slash007]

I use First Data with Cryptopay as well.