NEAFP Note - January 2010
Accepting Credit Cards
As the popularity of Debit and Credit Cards increases more people are walking around with less cash and their checkbooks so it is important for small businesses to expand their payment options. When bringing your products to market, whether it is at the local Farmer's Market or your Internet Store, it is important to offer as many payment options as possible to your customers. Accepting credit and debit cards will expand your business by being convenient for more people and increasing the average amount spent in each transaction.
There are many different options designed for a wide range of businesses but starting out we feel there are only a few choices that offer a low cost to start, easy to learn processing, and the flexibility needed for an alpaca farm. The most straight forward, and cost effective method of processing plastic is going through a Third-Party provider like PayPal, Google Checkout, Innovative Merchants, or Yahoo! Business. If you are already accepting credit cards through your on line store, chances are you already have an account with a third-party provider. Many of the other options, like Merchant Accounts with Banks or Independent Sales Organizations are designed for larger businesses who know they will have high sales volume each month and need a more streamlined solution. The start up costs are much higher but the fees per transaction or lower. For the average Alpaca Farm, these are not a cost effective option.
With a Third-Party processor you can also collect credit card information off line at an event or Farmer's Market, and then manually process the card back at home on your personal computer.
Options for collecting Credit Card Information On the GO
Credit Card Imprinters
Many small businesses use credit card imprinters to take an impression at the point of sale, and then manually process the payment on line through their Third-Party processor. This is a great method for farms just starting to process credit cards because of it's low cost to start and ease of use. Compare and Buy Imprinters Here.
USB Credit Card Swipers
An option for the more technical savy is buying a USB Credit Card Swiper that will attach to an existing Laptop or Computer. Once a card is swiped, the information is stored along with the amount of the transaction so you can process the payment once you get home and are back on the Internet. With an active Internet connection you can also process payment right at the point of sale!
Cell Phone Payment Processing
Another option for the technical savy, there are several applications that allow you to use your Cell Phone to accept credit cards on the go, which you can manually process back at home or over your mobile cell phone connection. Check with your Third-Party Solution if they offer this service.
With the ability to process credit card payments both on line and off, you will be pleasantly surprised with the increase in customers and sales!
Further Reading:
- Advantages of Acceping Credit and Debit Cards
- Comparing 3rd Party Processors
- Accepting Credit Cards Off-Line
Resources you might have missed!
Here are some great articles and resources we have shared over the last year in case you missed them!
- Embracing Local Economies
- Alpaca Farm Event Planning
- Bringing your Products to Market
- Local, Cost Effective Marketing
- Save on Shipping Costs!
- Networking Networking Networking
2010 Scheduled Fiber Pickups
Save on Shipping, let us haul your fleece for you! NEAFP will be running Fiber Collections at the following upcoming events:
- Empire 2010 Winter Symposium and Fleece Event 2/20 & 2/21 - Albany, NY
- North American Alpaca Show 4/1 thru 4/3 - Springfield, MA
Want to promote your Farm Blog or Alpaca Resource? Let us know about it by emailing us at support@neafp.com !
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