April 9, 2018 at 10:08 pm #181980
I just read through your article comparing credit card servers. I own a seasonal seafood restaurant with gross sales in the $450,000 dollar a season range. We have never accepted credit cards,but I am considering doing so. The fees are what gets me. i would obviously have to build the 2.75 for using Square for instance into the menu pricing. Would Square be more appropriate to our application or one of the others offered ? Sales in May run around $20,000, June $70,000,July and August, 175,000 per,and September around $25,000. Thank you.April 9, 2018 at 10:14 pm #182280
With seasonal sales and volumes in the ranges you mention, a traditional merchant services account from your bank or a provider like Cayan is probably a better option than Square. Square isn’t the best option for sellers that process sales in spikes since they often have sales thresholds based on your aggregate sales. High-value sales or a sudden spike outside of your usual trend can trigger a temporary hold, which is terribly inconvenient when you’re busy. A traditional merchant account is able to quickly approve or override any volume limits to deal with your sales spike periods. Hope this helps!