Quote:
Originally Posted by 38bill
PP isn't really any different than what merchants have to deal with when accepting credit cards. There are transaction fees and a percentage of the sale price that are about the same with both CC's and PP.
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Bill, You are absolutely correct.
We own three businesses that accept charge cards. The bottom line, averaged over all the different cards we accept plus the associated fees applied by the processing company is right around 2%.
We have long ago decided that accepting cards is the only way to go. Most folks don't carry cash and from what I read, most folks couldn't buy much of anything if they couldn't charge it.
Bottom line? Accepting cards has (overall) been a very positive thing for us. The associated fees that we pay are considered an operating cost. Just like turning on the lights, paying for insurance, heating / cooling the properties.
We do not accept American Express under any circumstance as their fees are simply outrageous.
I have utilized Paypal for over ten years with no issues. Yeah, their fees are a tad higher than charge cards (typically) but the ease / speed in which I get paid (eBay sales) are worth it to me.
Transferring the monies to my checking account is free.