Do People Pay With Credit Cards at Sports Card Shows?

HailMaryRodgers

I am just curious on the opinions of board members for a seller having access to Square or a like credit card reader service ready for use to process buyer payments at card shows? Most of my show experiences have been picking through low end boxes (i.e. Any card $2.50 or 5 for $10 kinda stuff). I generally pay in cash for these items. Is there any advantage as a seller to increase sales by having the ability to process credit card payments at a show? May be for high end items, like $100+? Please let me know if you have recommendations. Thank you.

OAKESY25

I have never set up at a show but the more options you have to accept payment the more payments you will take.

divecchia

Link to Net54



Donato

HailMaryRodgers

Originally posted by: mjohnatgt

No harm in having a Square reader.



Light reading from the last couple of days on the Net54 board: "Payment at card shows?"

Thanks!

MULLINS5

Definitely, as said, the more options you have the better. The last time I went to a show (Chantilly, VA.) there were some inexpensive items I wanted but didn't want to pay an ATM fee. Good luck with your sales and have fun at the show.

Griffins

Square is so easy and so fast there is no reason not to have one.

TNP777

I was reading that N54 thread this morning - interesting takes on both sides of the discussion. I lean heavily towards favoring dealers that accept all forms of payment: cash, debit, credit, checks - especially debit/credit. The dinosaurs in this hobby, and there are a LOT of them, need to either adapt to current business trends or get the heck out of the way.

Seriously, who carries a checkbook these days? Not me, and I bet most people under the age of 60 don't, either. And what dealer is going to accept a check for a large amount without making sure the funds are good? If he goes through the motion of checking funds, other customers at his table will be ignored or half served. If he doesn't check funds, he assumes quite a bit of risk. Sure, the check has an address on it, but the dealer now has to jump through a lot of hoops to go after a guy if the check bounces.

The OP in the N54 thread was talking about a $6K purchase, and many took the old-school line that "cash is king". I don't care where the show is, whether it's in the middle of the local mall, the city armory or the National - there's no bloody way I'm walking anywhere with a $6,000+ roll of Benjamins making a dent in my pocket. Atlantic City? No (insert expletive here) way. I know I'm not alone... unless I have a briefcase chained to my wrist and a couple of surly bodyguards.

To the "GET OFF MY LAWN" dealers: get rid of your flip phone and get with the times. Get a Square, suck it up and either eat the 2.75% that Square charges you to do business with them or be up front with your customer: if they want to use a debit/credit card, the purchase will cost a little extra. However, if you don't have 2.75% of wiggle room in your pricing, you're most likely doing it wrong.

I purchased my first T3 last summer at the Chicago National from Mike Peich, and paid using his Square. It made the purchase a no-brainer. I was able to keep the cash I did have for smaller purchases, and he made a sale. Then he made another the next day when I went back for a second T3.

/soapbox

Geordie

edit: I have a couple of Squares that I use for my business. They couldn't be easier to use. Receipts can be easily emailed to the customer, too. I should know - our local Public House emails them to me all the time when I partake of the myriad micro-brews I *ahem* sample there.

HailMaryRodgers

Originally posted by: TNP777

If you don't have 2.75% of wiggle room in your pricing, you're most likely doing it wrong.

agreed!!!!

schapko

Another good way is to accept PayPal. That way the customer can do credit card or bank account and you can do friends and family for no fee when they are right at your table. All you have to do is verify on your end that the payment went through. Done that several times.

ldferg

Yes, have as many options as possible. Paypal has been a winner for me at recent shows. I seek out paypal accepting sellers when I'm at shows.

seebelow

paypal locks up and is unreliable just when u need it to be. then you're all standing around looking at each other, hoping that refresh works the next time. yes, it is def an option but its the 21st cent....cash is disappearing, esp large amts as walk around money,,,,cc protects both and is so easy....2% fee? shouldn't be the deciding factor....net54 guy, keep ur flip phone but buy a used smart phone with a square...if they are cash only i just keep on walking...not an attitude, its just that i don't carry that much cash for a significant purchase.

Griffins

I suspect the reason a lot of dealers only accept cash is less about leaving 3% on the table and more about keeping sales off the books.

bishop

If so, how do they know how much in taxes they should pay

KbKards

What's the best you can do on that $500 card?

How will you be paying?

Cash

I can sell it for $450.

That's a little more than I want to spend, how about $400?

No, they've been selling for $475+ range on Ebay.

But that's before fees, so how about $400?

No, it's a good card and priced right. I'll knock another $20 off so best I can do would be $430.

Okay, I'll take it. I see you take credit card, so I'd rather hold on to my cash, plus I get 2% in points on my credit card.

Unfortunately that 2% you're getting will costs me 3%, and you said you were paying cash so I gave you my best cash price.

But it's only 3%. Are you really going to turn down a sale over a measly 3%?

I'm sorry but yes, I have to turn it down. If you want it for $430 then it's $430 cash, or you can also write me a check for $430.

I need to save my cash. Come on, look at all the other expensive cards you have. You can do it for $430 on a credit card. What's $12, you really want to lose a sale over $12.

Well if $12 isn't a big deal, we can then just add it on to the $430 and make it $442 on your credit card.

What, you're now raising the price on me! You know it's illegal to add a credit card surcharge.

I'm not trying to add a surcharge. If you told me credit from the start I never would've come down to $430. $442 now is even lower than I would have done.

You dealers are a piece of work. I'm the customer, you need customers. I'm trying to be nice and support the hobby shows and you're being rude all over a lousy $12.

I'm not being rude. You said cash so I gave you my best price. You can have it for $430, just give me the $430 cash we agreed to in the first place.

Forget you, I'm done trying to deal with you jerk dealers. No wonder shows are dying with you dinosaurs.

seebelow

( i agree with a lot, points on both sides ).....but you initially said you'd pay with cash...then changed the terms after he gave u a price

mtcards

Its actually not illegal to add a credit card surcharge depending on what state you are in. (Most do allow it)

I see both sides of the argument. 3% may not seem like a lot, but it adds up, plus consider that Uncle Same will get a 15% cut of that depending on the profit. Also, if someone asks what "cash price" is, that means they are giving you cash price. I had a guy ask me what I could do for an item if he paid cash, I said $50, which was a good price, he then whips out his credit card. Well, no, that is not cash price. It isnt the principal or the small amount, it is the fact I was asked CASH price. If the price is good enough, then be good enough back to the dealer and give him what was agreed upon. I can see the point in a high dollar sale, but on a low dollar sale...bring cash...it makes it easier for both parties

packCollector

What's the best you can do on that $500 card?

How will you be paying?

Cash

I can sell it for $450.

That's a little more than I want to spend, how about $400?

No, they've been selling for $475+ range on Ebay.

But that's before fees, so how about $400?

No, it's a good card and priced right. I'll knock another $20 off so best I can do would be $430.

Okay, I'll take it. I see you take credit card, so I'd rather hold on to my cash, plus I get 2% in points on my credit card.

Unfortunately that 2% you're getting will costs me 3%, and you said you were paying cash so I gave you my best cash price.

But it's only 3%. Are you really going to turn down a sale over a measly 3%?

I'm sorry but yes, I have to turn it down. If you want it for $430 then it's $430 cash, or you can also write me a check for $430.

I need to save my cash. Come on, look at all the other expensive cards you have. You can do it for $430 on a credit card. What's $12, you really want to lose a sale over $12.

Well if $12 isn't a big deal, we can then just add it on to the $430 and make it $442 on your credit card.

What, you're now raising the price on me! You know it's illegal to add a credit card surcharge.

I'm not trying to add a surcharge. If you told me credit from the start I never would've come down to $430. $442 now is even lower than I would have done.

You dealers are a piece of work. I'm the customer, you need customers. I'm trying to be nice and support the hobby shows and you're being rude all over a lousy $12.

I'm not being rude. You said cash so I gave you my best price. You can have it for $430, just give me the $430 cash we agreed to in the first place.

Forget you, I'm done trying to deal with you jerk dealers. No wonder shows are dying with you dinosaurs.

was mikelowell25 the one buying this card?