POCA Forums

 
Username Remember Me?
Password   forgot password?
   
8 of 8
8
CAN credit card processing deal
Posted: 28 February 2012 12:19 AM   [ Ignore ]   [ # 106 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  484
Joined  2009-03-28

For those interested in the Capital Payments offer, I’ve got an interesting story…

I used the CP service for several months. I liked the convenience and functionality of the charge card terminal and it didn’t tie up my computer or phone. With 2/3rds of my patients paying by credit, the process worked pretty smoothly. Problem was…the total percentage of gross receipts that I paid was slowly rising into the low “3-point something” percent range. There are lots of little parts to the monthly payment. It’s much more than the “1.69%” rate plus a small transaction fee.

So…I switched to Merchant Warehouse thinking I’d get a better deal. Before I signed on, they reviewed my CP monthly statement and estimated that I’d see a 30% savings. Reality: No way, Jose! Their total monthly charges, as a percent of my gross sales, was slightly higher than CP and their tech support sucks (and I mean SUCKS!)

If you’re interested in using a charge machine, instead of a hookup to your computer or phone, I haven’t found anything better than Capital Payments. If you’re looking at any other service, PLEASE ask for the “total monthly cost” as a percentage of your gross receipts. Any other quoted rate or fee is just part of the truth and you’ll find out the rest when you get your first monthly statement.

Be careful out there folks! Oh…and make sure your service contract is “month to month”. If you do get stuck with a dud, at least you’ll be able to change.

 Signature 

Steve Knobler, LAc
North Seattle Community Acupuncture

Profile
 
 
Posted: 28 February 2012 09:49 AM   [ Ignore ]   [ # 107 ]  
Sr. Member
RankRankRankRank
Total Posts:  523
Joined  2007-01-20

Thanks for sharing that, Steve. 

Ryan, the answer about Capital Payments is yes, POCA still gets residual payments from them, and one of the best parts about them, I think, is that you get a FREE credit card terminal.  Not to mention what Steve just added about the monthly fees. 

Thanks for the heads up about the link, I will work on fixing that. 

Can’t answer your questions about the USB port though.

 Signature 

 

Profile
 
 
Posted: 22 March 2012 01:37 AM   [ Ignore ]   [ # 108 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  484
Joined  2009-03-28

Here’s an update regarding my recent post about Merchant Warehouse…

Seems that writing a letter to the manager of customer service really can make a difference. Michelle Benedetti apologized for the poor service I received, reduced my rate, transaction fee, and batch processing fee considerably, and put a note in my customer file instructing tech support to not have my calls routed to their call center in India.

It’s always nice when a vendor is responsive.

 Signature 

Steve Knobler, LAc
North Seattle Community Acupuncture

Profile
 
 
Posted: 22 March 2012 11:00 AM   [ Ignore ]   [ # 109 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  943
Joined  2010-08-30

update—I know I posted some bad things about my experience with the setup process but its has been all good since then.  If I ever need anything I just call the regular tech support number and get great service. 

I recommend them to other clinics.

 Signature 

Nic Kurtz
Ad Astra Acupuncture
Lawrence CANsas

Profile
 
 
Posted: 23 March 2012 01:23 PM   [ Ignore ]   [ # 110 ]  
New Member
Avatar
Rank
Total Posts:  2
Joined  2012-01-02

I’ve read the entire thread and am still unclear (due to pros/cons/unresponsiveness) about whether or not to contact Capital Payments, and if so, who/how/when/where?  Please re-post your goodies?

Thanks!

Allison Ottley

 Signature 

If we have no peace it is because we have forgotten that we all belong to each other.

Profile
 
 
Posted: 24 March 2012 01:19 PM   [ Ignore ]   [ # 111 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  484
Joined  2009-03-28

Hi Allison,

I think there’s more than one good solution for accepting charge/debit cards. It all comes down to what you’d like to try. I began with Capital Payments and switched to Merchant Warehouse for a better rate.

If you want to use Capital Payments, I’d contact Paul Chimko. at 1-800-675-6573 ext. 6795. For Merchant Warehouse, I’d google for their number. Anyone you reach in customer service should help you. I’m not familiar with Square, but I know there’s at least one link in this thread to get their information. I didn’t choose Square because I didn’t want to tie up my phone or myself with processing charge transactions.

At around a 3% cost to me (plus/minus), I find that taking cards has been a real convenience for my patients and a worthwhile benefit for me. 2/3rds of our income comes from cards. Plus, I no longer have patients promising to “pay me next time”, which can be a real pain to track.

Opinions vary, so please review this thread once again to get everyone’s good thoughts. Best of luck with your choice. Once you make it, I’d encourage you to share your experience with others. That way, we all benefit.

Steve

 Signature 

Steve Knobler, LAc
North Seattle Community Acupuncture

Profile
 
 
Posted: 04 April 2012 06:59 PM   [ Ignore ]   [ # 112 ]  
Sr. Member
RankRankRankRank
Total Posts:  523
Joined  2007-01-20

Wow, i just saw this thread has had 1400 views.  that’s insane!! 

fwiw, i just set up clinic # 2 with capital payments again, and got a $50 referral bonus for it. 

also have just been contacted by another capital rep who is going to help set up a new landing page for POCA, which still gets residuals.  I like that part.

 Signature 

 

Profile
 
 
Posted: 27 April 2012 12:39 PM   [ Ignore ]   [ # 113 ]  
Sr. Member
RankRankRankRank
Total Posts:  523
Joined  2007-01-20

Also, they just designed a new landing page for us with simple plan/rates.  Here it is:

http://capitalpayments.com/can/

 Signature 

 

Profile
 
 
Posted: 09 May 2012 05:25 PM   [ Ignore ]   [ # 114 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  484
Joined  2009-03-28

Just a follow-up from my earlier posts in this thread. Merchant Warehouse was true to their word. I’m paying about 2.8% (all fees combined) of my gross receipts for their service. Haven’t found a better deal than this. Plus, their on-line reports are excellent and easy for tracking income and fees.

 Signature 

Steve Knobler, LAc
North Seattle Community Acupuncture

Profile
 
 
Posted: 10 May 2012 04:07 PM   [ Ignore ]   [ # 115 ]  
Sr. Member
RankRankRankRank
Total Posts:  523
Joined  2007-01-20

Steve, can you give us some numbers about how much you are actually saving per month by going through Merchant Warehouse?  Because honestly, I know a lot of folks who would pay a little bit more so that some of their $$ can benefit POCA. 
Thanks!

 Signature 

 

Profile
 
 
Posted: 10 May 2012 05:27 PM   [ Ignore ]   [ # 116 ]  
Sr. Member
Avatar
RankRankRankRank
Total Posts:  484
Joined  2009-03-28

Sure Ellen,

Last month, my gross income, by charge card only, was about $3000. With Merchant Warehouse, I’m paying about 2.8% of gross income per month (all costs included). That’s about 0.5% less than with my Capitol deal. It saved me $15 in April.

Important to note that the latest offering from Capitol to POCA looks like it will cost more than the deal I had. So, for anyone doing a comparison, PLEASE calculate your TOTAL EXPENSE cost per month and compare it to what Merchant Warehouse offers.

When I left them, my Capitol contract cost me roughly 3.3% of gross income each month. Originally, it was less, but it slowly began to rise (added fees and such). My Merchant Warehouse deal was supposed to be less, but ended up being just slightly more than Capitol. When I wrote MW and complained, they quickly lowered it to 2.8% and apologized.

Keep in mind that we’re a smallish clinic. We see only 65-80 people a week. For us, it was a $15 savings in April. For you it may be more. Doing the math will show you. Make sure to include the percentage of payment fee, the transaction fee, access fees (to use VISA/Master services), monthly reporting fee, and the higher rates often charged for cards which offer rewards to their users. If you don’t know exact numbers, do your best to guess. If you already have a service, use one of your bills from a typical month for a comparison test. Fax your bill to the other services, let them do the math, and have them show you the money that you’d save with their program.

 Signature 

Steve Knobler, LAc
North Seattle Community Acupuncture

Profile
 
 
   
8 of 8
8