credit card processing options

[washman9]

We have two Unitec Wash Select 2's, processing credit card via high speed internet. Credit Card fees are eating us alive. In my opinion borders on "predatory lending" as they are so outrageous. Question involves having the auto cashier store credit card swipes and then we manually go in every couples of days and batch these through a "Square" type of device thorough our smartpphone. Has anyone considerd this option and can it be done. My son pays less in fees for his grass cutting business via his Square device than I do at our wash. Thanks for any suggestions.

 

[JustaGuy]

I doubt you are allowed to store swipes and be PCI compliant - that said, I don't know if the Wash Select II credit card clearing is PCI compliant as-is so it may not matter much...

 

[jenward]

washman9-
The service offered by the "square" device you mentioned is tied to their proprietary hardware/software which is only applicable to mobile phones.
On the Wash Select II, credit card processing is handled by a 3rd party terminal that's installed in the unit and is a PCI-validated application. There may be other processing options available to you, however there may be some programming or upgrades involved with your credit device. If you would like to discuss those options, please feel free to contact Nancy in our Merchant Services Department.
Thank you,
Jen Ward
Unitec
443-561-1200

 

[Randy]

We have two Unitec Wash Select 2's, processing credit card via high speed internet. Credit Card fees are eating us alive. In my opinion borders on "predatory lending" as they are so outrageous. Question involves having the auto cashier store credit card swipes and then we manually go in every couples of days and batch these through a "Square" type of device thorough our smartpphone. Has anyone considerd this option and can it be done. My son pays less in fees for his grass cutting business via his Square device than I do at our wash. Thanks for any suggestions.

Just out of curiosity, how high your credit card fee’s?

 

[Bubbles Galore]

Just out of curiosity, how high your credit card fee’s?

I'm curious of the percentage you are paying as well.

 

[borumrm]

Wow...I never really even though much about this before because the merchant fees only get deducted at the end of the month where as the deposits to my account are each weekday. After this post I just looked and calcuated that merchant fees at one location are 5.34% of total deposits and at another location with much fewer card transactions it is 6.6%. Basically just took merchant fees for the entire year divided by the total credit sales for the year at each location to get the percentages....that does seem high....what are others seeing? Now I am curious......

 

[robert roman]

“Credit Card fees are eating us alive.”

"Square" type of device thorough our smartpphone. …….can it be done.”

“Thanks for any suggestions.”

My suggestion is to view credit card processing fees not as an expense center as in a line item on the profit and loss statement but rather as a revenue generating opportunity.

The future of the carwash industry is automated car washing which means automated sales transactions which means plastic payment which means more cashless transactions which means more transactions with mobile payment, the next wave.

The younger generation is driving mobile payment, another convenience, to pay at point of sale and online (website).

 

[washman9]

Our percentage is running on average 6.2%.

 

[bighead]

This got my curiosity piqued, and so i did the math for mine. With Elavon and E-xact (Hamilton Setup) mine came to 3.6% last year...

Higher than my other businesses, but as I've discussed earlier, I don't have to collect and count it, so I don't mind.

(I don't trust anyone else to collect and count my money)

 

[cantbreak80]

My SS only generates 40% of its total income via CC transactions. In my view, the cost of processing is minor. Even at 6%, CC fees represent only 2.5% of my total income. Heck, my trash service is 1.5% of income and it doesn’t produce any income! So how much of a reduction in credit card fees would it take to reduce the impact as a % of income? I’m not chasing that tail until I can see some reasonable effect for the effort…like reducing the 11% of income that I spend on utilities!

Consider; I don’t have to count that income and take it to the bank. All I have to do is the accounting. With cash, I have to collect it, count it and deposit it, and then do the accounting. CC customers just saved me a bucket of time…for a small fee.

My bill changers see 40% less activity, reducing maintenance expense. My coin acceptors see 40% less activity, reducing potential problems and lost bay revenue due to a malfunction/coin jam. My bill and coin counters see less activity due to reduced cash handling. I can service more customers on the busy days because cc customers don’t get into the “go to the bill changer after pulling into the bay routine”. And, at minimum, my CC customers purchase twice what my cash customers purchase.

I feel I’m money ahead by paying a processor to reduce my workload and maintenance expense.

Now, if I could only convince my attendant to work for 2.5% of my total income…nah, bad idea!

 

[ted mcmeekin]

We changed processors a few years ago only to have current one slowly increase fees.
I called to complain--they said oh we can reduce your rate by 20 % when they realized I was about to cancel. I then began to closely review recent statement which was developed in typical scam artist cryptic format. I went though line by line charges for clarity--after two reps could not explain their statement, they decided it must be wrong and passed to an "account specialist" who is to get back in 3 days. One of several issues was a so called credit because they lowered rate. Looked good on statement but money never was deposited. I am working with another now to find best deal and accurate clear statements. Our fees went from about 4 % in the beginning to 6.2 % last year.

Ted

 

[ted mcmeekin]

After some research and getting a million unsolicited calls from 3 party processors, we talked with TSYS. They partner with Hamilton and quoted some very attractive rates. We will probably change next week.

Ted