Next Flea Market Question, credit cards

[DQDick]

We've been researching credit card processors and so far Square, Go Payment, Pay Anywhere and Phone swipe all seem popular with the vendors. They all plug into the head phone jack on your phone or tablet and you can take credit cards and get instant approval right on the spot.
We would appreciate input from anyone with experience.

[Wayne and Carolyn Mathews]

We haven't sold at flea markets in a long time, but for a while, when we were selling, we did take credit cards with the old-fashioned "knuckle-buster" credit card slide thing. However, eventally the credit card fees charged to the vendor (us) went up so much that we went back to a cash or check situation. At flea markets/antiques shows, we were always asked, "Will you take less for this?" so to begin with, our profit margin was not like what large retail outlets made; losing even more money to credit card fees cut into our profit even more. In all the years we set up at various places in Texas, including at the Canton First Monday Trade Days, we never got a bad check. I'm not so sure in this economy if the same would hold true now.

I'm sure that taking credit/debit cards does increase sales, but for us, a small-time seller, the fees started eating away at our profit.

Carolyn

[bigmurf]

FWIW. When I go to a flea market, as a buyer, it's cash only.

[Ozz]

quote:Originally posted by DQDick

We've been researching credit card processors and so far Square, Go Payment, Pay Anywhere and Phone swipe all seem popular with the vendors. They all plug into the head phone jack on your phone or tablet and you can take credit cards and get instant approval right on the spot.
We would appreciate input from anyone with experience.

I will be watching this thread, Sue came down the the shop, she had been calling different places inquiring about it and our AT&T phone's ability to do the transaction, I was welding up more Cactus and didn't pay attention to what she was saying...as usual... but tonight I'll ask her again. I wanted her to check with Paypal, as we already have an account with them. When I sold flagpoles and windsocks, I just took cash, never lost a sale because of that, so cash may be the best way to go.
(I just put in an order for more flagpoles, spinners and windsocks, guess I will add that to the Ozz store...)

[Ozz]

Some additional info below.
Dick, have you tried over on escapees? They would be a good additional source.

http://fleamarketzone.com/2011/05/tp...-credit-cards/
http://www.intelli-collect.com/cblog...dit-Cards.html
http://credit-card-processing-review.toptenreviews.com/how-to-process-credit-cards-from-a-booth-or-flea-market.html

[bigmurf]

Last couple of years now the state of AZ has been after flea markets collecting sales tax. You may need a tax number now. Also do you really want the IRS looking at your sales for what be a small amount?

[subra1228]

We use the Square for our RV blind restringing business and have had good experiences. Not much more to say, swipe, get paid, done. Secure for both users.

[patbarton]

I recently got a PayPal doodad, kinda like the Square. Since I've used PayPal for yeeeeears it was an easy choice. It works fine.

I can understand cash-only at flea markets. If all I have is cash, it keeps me from spending more than I need to; plus I don't have to worry about losing my credit cards.

But if you're doing something more laa-de-dahh than a flea market, taking credit cards is a must. I helped a friend at a high-class art show last year, and she surveyed everyone who purchased from her using a credit card. 90 percent said they carry ONLY credit cards any more, and if you don't take credit cards you run the risk of getting customers like that, with no cash in their pockets. I forget, but her credit card sales totaled over half of her total sales for the show.

[patbarton]

BUT!!

This is probably evident, but if you don't have a reliable cellular signal these phone devices won't work. There's no store-and-forward option (but that would cost more anyway).

Oooh! Ohh! Three hundred posts! Yay me!

[Ozz]

Thanks Pat, you are an awesome dudess!

[steelpony5555]

If you are setting up at the major flea markets like Canton they have ATM's all over. Most vendors who don't take cards can tell you exactly where to find the nearst ATM. It is usually the vendors with the big ticket items that will take cards. I have cash for the small items and if I see something that's a coupla hundred bucks then I'll ask if they take plastic.