Accepting Credit Cards w/ Paypal in Person

[DaisyMamma]

Did you guys see this?
You connect it right to your smart phone and you can swipe cards right there, crazy!
I wouldn't use it just because I don't want to pay the fees, but it's really cool.

https://www.paypal.com/webapps/mpp/new-payment-solutions?intl_cid=3484-150736-8030-1

[SunshineMama]

Look up the Chase Square too. It's basically the same thing with a Chase app.

Technology these days is super cool!!!

Just have to watch out for the extra fees though, both charge a percentage per each transaction.

Did you guys see this?
You connect it right to your smart phone and you can swipe cards right there, crazy!
I wouldn't use it just because I don't want to pay the fees, but it's really cool.

https://www.paypal.com/webapps/mpp/n...-150736-8030-1

[DaisyMamma]

Oh wow, I guess it's the new thing!!
too bad it costs so much. Hopefully it will be a while before we are all forced into accepting debit cards.

[MarinaVanessa]

Personally I don't feel that the % is too much in either case. I use the Square card reader and the % is less than using PayPal. Square also doesn't have a monthly account fee, it's simpler. PayPal charges a monthly transaction fee based on your monthly sales plus 2.7% per transaction. Square only charges the 2.75% per swipe and that's it.

Also when you use the PayPal version your funds are deposited into your PayPal account. You can either transfer the amount into your bank account (takes 5 days) or you can use the PayPal debit/credit card (no fee) when you want to make purchases. The Square version deposits the money directly into your bank account.

I hope that PayPal doesn't intend to sell you the card reader ... Square gives theirs out for free.

[Unregistered]

Im wonderimg if anyone has an electronic payment policy i can take a look at? I was planimg on having the parents pay the fees but i dont wqnt it to be part of what they claim as childcare expemses since its not income for me im just not reqlly syre how to word it...

[Second Home]

From what I have experienced when purchasing an item from our football apparel concession that uses the square the customer paid a $2.75 fee , it was added to the charge card bill . Does the owner of the square also pay a fee ?

When I worked for the apparel concession they asked each person who wanted to use their charge if they would be o.k. paying the $2.75 , that it would be added to the total of the purchase . If they said no then they did not take the credit card .

[itlw8]

I would assume you would not have to pay taxes on the fee. you would record it as an expense and then it would off set the amount collected so you owe no taxes on it. Yes in theory they could claim it as childcare expense but that would not have anything to do with you and most pay far more than they can claim anyway. most of mine are to frugal to pay that much They would rather write a check.