Has anyone had experience with PayPal's Virtual Terminal or VT
Swipe for credit card processing? Also, there is a company called
USBSwiper.com which sells a magnetic card swiper + software
interface for processing through PayPay. Any feed back on this
company and their product/services?
I just signed up for this a couple months ago. I love it.
With my bank merchant account, I was paying over $30/mo. in monthly
bank charges just to accept all 4 major cards.
The per-transaction percentage fees varied wildly depending on what
kind of card each customer used, and whether it was swiped or typed
in (for mail orders).
And I was limited to using my CC equipment in locations that had
phone lines because I didn’t have a wireless terminal (which costs
huge $$$$ to lease or own, plus wireless service fees).
If I had used my bank merchant account to process transactions
through a shopping cart on my website that would have incurred even
more additional monthly fees according to the bank rep I spoke to a
while back. That’s one reason I never got a shopping cart.
Using the Paypal VT I can accept all 4 major credit cards with no
extra fees. I pay one flat rate for all transactions no matter what
kind of card it is (debit, credit, credit union, business card,
I pay $30/mo. for the Paypal VT (which will also cover any
transactions when I finally get that shopping cart built into my
website) plus the usual Paypal fees, which are comparable to credit
card processing fees.
I also pay $4.95 to USBSwiper.com for use of their software. I can
use the USBSwiper/Paypal set up anywhere I can run my laptop.
If I have internet access the transactions go through immediately
and the money is deposited into my Paypal account.
If I’m selling somewhere that I can’t access the 'net they are
stored in the computer and processed in a batch when I get back to
civilization. (Just FYI, in no case does any credit card info get
stored in any way that compromises the customer’s security.)
The best part is I have immediate access to my money right after the
transaction is approved and completed.
I can transfer it to my bank electronically (which takes 2-3 days at
most), or I could spend it right away with a Paypal debit card (if I
had one, that is).
Note–if you decide to go with USBSwiper, watch their website. They
run specials on the software and the swiper quite often. I got the
whole package for about 50% off by catching the specials.
Feathered Gems Jewelry