I don't accept credit cards often because the cost with Square is pretty high. I saw a site with the top ten companies after seeing an ad for National Bankcard- their rates are excellent, but I wanted to find out more before giving them any info.

How do you all deal with card payments- find some kind of average and preemptively raise the price for all sales?

Credit card transaction fees are a cost of business just like advertising and miscellaneous tools. Cost of the transaction should be absorbed into your product and labor pricing. I personally use Square because it is convenient. You could negotiate a cash discount with a customer to offset the cost of the credit card transaction..

As an independent, if you don't get some buying group deal or process a bunch of transactions, you'll likely not save much if any vs square. Research carefully, monthly minimums and maintenance fees, cost of terminals, liability, etc.

If you're not retail, than absorb or add the fee as appropriate to the project.
If someone asks us for a discount, first question back, how are you paying? Then explain part of your possible "discount" is accepting your credit card, miles aren't free.

We took AMEX for the first five years in business. It was barely used. We discontinued that service and only accept checks or wire transfer(preferred). It has worked fine for the last fifteen of our twenty years in business. I like the wire transfer because it is paperless, one thing to eliminate from my day. Most clients like it as well.

We have QB and Evalon. Elavon has much better rates but QB's can do ACH pulls. We typically turn ACH on first and if the customer requests a CC payment option, then we will enable credit card payment within the invoice. Way more convenient than a typical processing company.

It does suck with a customer wants to pay a $30k invoice via CC but that's the cost of business. As others have mentioned, add 2.5% to all estimates and offer a 2.5% discount if paid via check. It's just more back-end work to handle this philosophy.

Agreed. I've never had a client complain about not taking credit cards. Cash, cheque. money transfer or e-transfer for smaller jobs.

We use Square but pass on the credit card fee on any payments over 1000.00.

This^^ I'm not absorbing the cost of the convenience for the customer to use some plastic card thingy

After using a few different merchant companies over the last so many years, we use Intuit now directly within quickbooks. They offer next day funding now with CC or bank transfers(10$ max fee any amount!)) and their rates are about the same as everyone else.
The convenience did to for us, as we can send an invoice with a direct payment request and never have to see the clients card or bank info. We also offer a discount rate for anything but plastic to cover the price of the fees.

I was just talking about this with someone the other day.  But first, who do i use?

I used Square when I was an integrator..nowadays, I use Freshbooks/WePay(Chase).  I like both and would recommend either without hesitation.  Freshbooks has been one of the best companies I've ever worked with across any platform.

Yes, you pay approximately 3% in fees.  I started taking them in 2009 when Square started.

From my personal experience, when I was a small shop Square was great for my business. The first year I did an additional 170k in revenue than the year before. I attribute it to taking cards.  People tend to spend more with cards.

Lastly, the best way to deal with payments IMO is to bump your quotes 4%. That'll cover all the costs. Then it also gives you wiggle room if you want to offer a discount if you think it can get you the sale (if the person pays cash,check).

You want 10k.
Invoice is 10,400.  (including the 4% for the card fees).
Mr. Cheapo balks....Can you do better?
I can knock off 5%.
Now you've given him a 5% ($9880. discount and you've only lost $120. But he's saved $520.(But he's gotta pay with check).

Otherwise, it's 10,400.  You get the 10k.

In this day and age, make it easy for people to do business with you.  With Square, you can also integrate it with your website, so you can accept payments that way too.

IMO, you're in the technology industry.  Embrace the technology.

Hi-I use Sphere and signed up independent business owner, they will not only beat your current rates , but as a business owner I make residual off of my total fees processed each month.
SandraRizzo.acndirect.com.

We accept checks, wire transfers, or cash. Will barter on occasion.

Deleted. Reason: offensive.

“My pricing includes a 3% discount using cash or a check.”

Gotta love California credit card rules.  :-(

This is the main reason I don't accept credit cards.  Too much hassle in Cali.  I've never once had a client question it.