Originally Posted by kaitysmom
Ok....I have been looking at the applications that you can rent/purchase for your iphone that allow you to swipe credit cards on site at your craft shows. Through my research, I have found a company that I am interested in that will send you the machine and application for your phone for free, but charges a fee per transaction. The card is processed on site, so you don't have to worry about lack of funds after the fact etc. like the old system with the credit card slips and slider machine.
My big question is this: Do you think that you can increase your sales per customer substantially by offering a credit/debit option? Will they increase enough to justify the additional transaction charge? I don't use my credit cards much so I'm at a loss!
Thanks in advance for your help!
What is the transaction fee? a percentage of the sale or a flat amount? If it's a percentage (most credit cards are 4 or 5% in a regular retail setting) of the sale, I would be more inclined to go that route, vs the flat amount (unless it was a VERY small fee). Is the fee based on the amount of transactions?
I was in the Expo center of our state fair (where they sell everything from soup to nuts!) and was amazed at the vendors that are still only accepting cash. There was an item that I really wanted/needed (long story short - I blew out my NEW flip flops and needed a new pair-NOW! as we had just got to the fair.), but because they didn't accept debit/credit cards, I didn't buy it, (it would have significantly cut into our cash and I refuse to pay the $7 ATM fee at the Expo).
Maybe not the same situation, but I would have bought the more expensive item (and probably two, cuz they were really
cute!), but they didn't take debit cards. Most people also don't think as carefully of the amount they're spending when they can pay with a credit card.
I would say try it for a few fairs this year and see if your sales increase. If there isn't a long term contract to sign, you haven't lost anything. My gut feeling is you'll be selling more.
Good luck and keep us posted.