We are pleased to share that the club has invested in some point-of-sale (POS) technology to accept credit/debit cards. Initially, the POS will be used during Beatles Fest, but after we can explore ways to use it for other purposes. We have chosen Square for its low cost and ease of use. The POS can be used for more than accepting forms of payment but also as a sales record. The POS can record what we sell and who we sell it to. Plus, the technology can connect to Sage, our accounting software.
Cost is always the challenge when working with credit and debit cards. While the hardware has been bought and there are no subscription costs, fees are associated with processing payments. For example, Square charges 2.65% for credit cards and $0.10 for debit cards. The fee is 3.4% + $0.15 per transaction if we manually enter credit card details.
Most merchants build the cost of processing credit and debit cards into their business, like electricity and rent. Beatles Fest, for example, has weighed the pros and cons of accepting credit cards and has chosen to do the same. We could tag a small service charge to cover our costs for other purposes, such as club dues or happy bucks.
We bought one handheld, self-contained POS machine, Square Terminal, that can print, email, or text receipts. Also, if there is a wifi outage, the device will still process payments to be completed when wifi is restored.
We have also bought two Square Readers than can connect via Bluetooth to a smartphone or tablet. Once set up, we can accept tap and chip payments. Receipts can be emailed and/or texted to customers. The app on the smartphone or tablet works just like the handheld POS.
What do you think? Would you or other members of the club be interested in paying for dues, happy bucks and breakfast using credit or debit? Would you be willing to pay a small service fee to cover the costs of the convenience? Please let us know! Email Thomas Paul, tom@tompaul.ca.
Please note we use another payment processor for Auctria (our online ticket sales and auction software) that uses a different fee structure than Square.
Examples of Service Charges to Cover Costs:
Credit Service Charge: 2.72%
Debit Service Charge: $0.10
Member Dues $225
- credit $231.12 ($6.12 service fee)
- debit $225.10 ($0.10 service fee)
Happy Buck $1
- credit $1.03 ($0.03 service fee)
- debit $1.10 ($0.10 service fee)
Club Meeting $5
- credit $5.14 ($0.14 service fee)
- debit $5.10 ($0.10 service fee)
Breakfast Sandwich $12
- credit $12.33 ($0.33 service fee)
- debit $12.10 ($0.10 service fee)