PayPal merchant account for credit card acceptance

 I'm jumping in here a bit late, but thought I'd share some info I found during my initial research.  I found the following website that compares merchant service vendors (but doesn't include ProPay or PayPal: http://credit-card-processing-review.toptenreviews.com/.  I have no idea if these people are truly neutral in these reviews or not. 

I did some research on wireless services and the machine alone is completely outragous (credible resources seem to start around $600 new.)  I don't see any options to rent equipment, but that seems like it would be a good business for someone to get into.

When people refer to knuckle busters, I assume they're talking about the old tech machines where you use the multi copy carbon slips and imprint the card info by running a bar across the info.  I looked on ebay for Mr. Imprinter, but couldn't find that source.  Several are available for about $10 including 100 slips.  I assume that's a decent deal.  (timberlakejustin was one vendor I found.)  Feel free to guide me to a reliable source, if anyone has one.

I went to the ProPay site and see the Premium service for $60 a year, but it also has a long list of documents that have to be submitted for anything other than a basic membership (which has a $1000 a month limit.)  Here they are:

• A detailed written description of your business
• A written description of your shipping policies and return policies
• A copy of your business license
• Copies of the last three months of your bank statements (darken out the account number)
• A sample copy of your sales contract or sales receipt
• Agreeing to deposit a reserve amount that is calculated on an individual basis

I don't have all this info to provide, do I don't know if ProPay is a viable option for me or not.  (I've been strictly a cash business so far and haven't started a bank account strictly for my business.)  I also am hesitant to deposit any kind of reserve into an account.  If anyone has experience with this process and can tell me if this is difficult for a new business to get approved, I would appreciate the info.

I need to get this set up in time for an early November event.  I would appreciate any help people can provide.

Thanks!

Vicki

I have an iPhone and I did some research for credit card applications.  I just signd up with iSwipe.  It is 24.95 a month, no minimum, no maximum, no contract.  Then is is     2.9 % plus 30 cents per transaction. 

I looked around and this is a pretty decent deal.  They also have some questions in the application process but it is fairly simple and it only took me a few minutes.  They are used to working with small businesses.  I talked to their support person because I couldn't find the rates and he was very helpful.  They have good support, send you an email receipt which you could then send on to the customer if they want.

I'm sure it is not perfect and I will find things I don't like about it but with not having to sign any contract so can quit anytime.  The phone app was only 99 cents, so no big loss.  :)   Approval only takes a couple days too.

Hope you find something that works for you.  It is all so overwhelming.  :)

I know what you mean. Actually, I ran across this shop in L.A. and supposedly buy 6 pairs of drumsticks for my friend and the paln was to purchase it through my credit card. Unfortunately, the sales clerk said that they do not accept credit cards YET. Luckily, I was bringing with me some cash to pay for those drum sticks. But it was really a hassle knowing that a store does not use credit cards or any merchant accounts as a mode of payment.

 I thought I would post an update on the credit card application I got for my iPhone.  I used it this weekend for a craft show and it worked great!!!.   It was quick and easy.  I would ask for the person's email address if they wanted a receipt and it autmatically sends one to them and to you.  It definitely aved me some sales. 

I don't know if I will keep it year round because the $25.00 per month might not be worth it but there was no contract to sign so I can drop it anytime.  If anyone is interested it is called iSwipe.

It would be nice if they'd let you create an account but have you pay only for months you actually use the service so you don't have to start over every time you need it.  $25 per month is a bit steep if you're not selling all the time.

Nice to know that it works well though.