Payment at card shows?

[Sean]

I've had dealers tell me that they would take a card, but I would have to pay an extra 5% because of the fee.

[Rookiemonster]

Cash is king .

[packs]

Very strange especially since Square technology is ubiquitous, easy, and can be clipped onto your cell phone.

[Rich Klein]

Not all of us have smart phones (Sorry). I still have a flip phone.

[ls7plus]

Originally Posted by Rich Klein

Not all of us have smart phones (Sorry). I still have a flip phone.

You and me both, Rich--I only want it to make and receive calls, with an occasional text. Tasks of a computer nature, I leave to my computer!

Best wishes,

Larry

[Stampsfan]

I typically bring the amount of cash my budget allows. It's a great buffer.

However, if I do cross something high end, and I wish to pay by CC, many times the buyer and seller can negotiate the 3.5% fee. If I see something that is a decent deal, I'm OK with the dealer adding on 1.5%, 2.5%, 3%, or whatever we come up with to close the deal.

[vintagetoppsguy]

Why would a dealer accept plastic from someone they don't know? They open themselves up to charge backs.

[Donscards]

I was at that Chantilly show and it could have been me the collector is talking about---Yes cash is King--also I take paypal and checks if I know the person or he has good references. I don't take credit cards---and like another person said, you have to be carful on chargebacks---I also have a flip phone---sorry I love it---I do lose sales at shows because I don't take credit cards, but also usually it is a high demand card and will sell at another show.--Many dealers I know over the years only take cash for many reasons and when I go to major shows , I take cash to buy--it works better for the collector who is selling his cards.

[vthobby]

Originally Posted by Donscards

I was at that Chantilly show and it could have been me the collector is talking about---Yes cash is King--also I take paypal and checks if I know the person or he has good references. I don't take credit cards---and like another person said, you have to be carful on chargebacks---I also have a flip phone---sorry I love it---I do lose sales at shows because I don't take credit cards, but also usually it is a high demand card and will sell at another show.--Many dealers I know over the years only take cash for many reasons and when I go to major shows , I take cash to buy--it works better for the collector who is selling his cards.

Don,

If this was you, I'm curious why he did not just pay you via paypal? He could have found a computer or sent it via his phone, then once you see it is safely in your friends/family account, you release the card. This seems like such an easy way to do it plus it protects you from charge backs since it goes to F/F account. I have used this method and it always works.

Mike

[Donscards]

Originally Posted by vtgmsc

Don,

If this was you, I'm curious why he did not just pay you via paypal? He could have found a computer or sent it via his phone, then once you see it is safely in your friends/family account, you release the card. This seems like such an easy way to do it plus it protects you from charge backs since it goes to F/F account. I have used this method and it always works.

Mike

Mike--I am not sure if I am the dealer this person is talking about---I did have one collector who didn't have the cash and wanted to use a charge card, I don't take charge cards since I only do a few shows a year---I did offer this collector paypal , but he doesn't use paypal---when somebody pays me with paypal, I give them the card when it gets to my account. I also take checks (if the person has good references I give them the card, if not, I wait until the check clears and then mail the card to them. And yes there are times I do lose a sale because I don't take credit cards. I also believe cash is King

[botn]

Originally Posted by vintagetoppsguy

Why would a dealer accept plastic from someone they don't know? They open themselves up to charge backs.

Pretty absurd. Then why should a dealer take a check from someone they don't know? Checks are bounced with less recourse. You suggesting cash only at a show?

[vintagetoppsguy]

Originally Posted by botn

Pretty absurd. Then why should a dealer take a check from someone they don't know? Checks are bounced with less recourse. You suggesting cash only at a show?

Yes, checks bounce, but absolutely there is more recourse - including jail time for the one that wrote the check. If you have a bounced checked, that is a legal instrument, signed by the the one that guaranteed it. You can file on them in a small claim court and pursue it legally. With a charge back, all the credit card owner has to do is call his credit card company, report the card stolen and the merchant is SOL. That said, if I were a dealer at a show, I wouldn't take a check either. Too much hassle if it does bounce. As already mentioned, cash is king.

Don't take my word for it, read post #11 above from a dealer...

Originally Posted by Donscards

and like another person said, you have to be carful on chargebacks

[packs]

Yeah but nearly every vendor takes plastic. The chances are remote that you're dealing with some mastermind serial chargeback king. If you're afraid of that happening I think your inventory would need to reflect your price points. I highly doubt the average customer has a few thousand bucks on them just in case they happen to find something they like and the person only takes cash.

[Duluth Eskimo]

This is one of my favorites for the lay person / collector. 6k is a large purchase and the dealer is expected to just pay the juice for the credit card because it's more convenient to you. It seems that he tried to work with you by offering to accept a check which is a large risk for him, but doesn't cost him 3 percent. This is just like most buyers on eBay who expect to lowball everything then want the seller / dealer to pay eBay and PayPal fees because it doesn't cost them a thing.

I understand that it may seem hard for some people to believe that people pay in cash, many big time collectors and dealers do. If you don't have the cash, that is your problem. If you go to the national or any big show, most big time buyers have big time cash on them. This is another reason why most auction houses don't take credit cards. If I am shopping and come across a big ticket item I want and don't have the cash on me, I blame myself not the dealer. Collectibles are a cash business. I don't expect a dealer to bend over backwards for me.

[steve B]

Originally Posted by packs

Very strange especially since Square technology is ubiquitous, easy, and can be clipped onto your cell phone.

I've just started learning about Square since it's how the retail area the makerspace I'm in is taking payments.

I'd recommend dealers looking into it, the pricing is better than many small merchant accounts and better than Paypal, a flat 2.75% (And if your margins are too small for that you're doing it wrong)

They also have a bunch of options for hardware, like a small stand for a tablet, which can attach to a cash drawer if you want it. And it has some pretty decent inventory tracking software. Overall a fairly preofessional looking setup/ Once people catch on, I think the more traditional CC processors are in trouble if they don't change.

The first time I saw it was at a craft fair. My wife and I bought some cards and prints from an artist, and the original I wanted was a bit more than the cash I had. The square setup was pretty impressive. simple, fairly quick, and we got an email receipt. (They also have receipt printers but he didn't have one. )


Steve B

I don't have square personally yet, and don't own stock.