FHP11 8 Posted October 20, 2020 Following notification from Worldpay today that card payments are going up again, I was wondering what everybody else is doing about card payments? As far as I can see, I think we are going to have to throw in the towel on them and insist on BACS... I know a lot of this is down to MasterCard & Visas Monopoly on the market and ultimate Greed, but the costs are out of control. Now e've never accepted Credit Cards in any shape or form. But Go back a few years, we used to pay just 20Pence for a debit card transaction. As of today, Worldly have said that Debit card rates are going up to 0.57%. Now on a moderately priced £15K Car, that works out at £85.50 in debit card fees. Compared to a few years ago, this is a 42,650% increase in processing fees. Or a bit like a £1.50 bottle of milk going up to more than £600! No other industry has been able to hike costs like these guys. I can't see its possible to continue taking debit cards, unless its a dirt cheap car. I know Worldpay will skin a bit off this rate, but its still outrageous. Thinking of maybe saying we will take a max of £3K but anything over must be BACS. We have been trying to point customers down the way of BACS, but some of the less tech savvy always seem to leave it till pickup when theres always some issue or other. Whats everyone else doing? Share this post Link to post Share on other sites
umesh 336 Posted October 21, 2020 Majority pay with bank transfer with no issues at all. the very odd one or two ususlly elderley people who don't have online banking pay with debit cards with me. you'll be amazed " if you ask, they'll all pay via transfer- its the new way :)" Share this post Link to post Share on other sites
Holmfirth Cars 12 Posted October 21, 2020 Hi i took a decision 3 years ago , after HSBC used GLOBAL PAYMENTS, they are absolutely useless !! So i DO NOT ACCEPT ANY C CARDS OR DEBIT CARDS, and the effect has been positive, and the customer has less rights to bring the car back / reject the vehicle. Also you have total control over refunds of deposits etc.... JUST DO IT ! 1 Share this post Link to post Share on other sites
RH Trading 80 Posted October 21, 2020 Bank transfer all the way, stopped accepting cash completely for sales and workshop in June and saving on bank charges as well as the stress of town centre bank runs with bundles of dirty cash to pay in Share this post Link to post Share on other sites
David Horgan 564 Posted October 21, 2020 0.57% is very high but world pay are in my view . Barclay Card are our suppliers , LOTS lower than 0.57% Bank transfers do work , get them to transfer £1 to you and it starts the process for a seamless transaction at point of sale we call the £1 the rule to open the account up before you arrive . Even a £1 shows commitment to purchase and it stops the problems of starting the whole transfer process as the sale gets to pay up time . 1 Share this post Link to post Share on other sites
Ratt101 15 Posted October 21, 2020 We use card saver for terminal and EVO for settlements a lot lower, but been encouraging customers to do bank transfer, but bank charges have also gone up £56 to pay £8000 in cash in also charging more for payments in and out. Share this post Link to post Share on other sites
trade vet 701 Posted October 21, 2020 Good luck with contacting Worldpay FHP11,I found it very difficult and then discovered we had been locked into a long term contract.Luckily ours was flawed so I managed to wriggle out. 0.57% is rediculous. Share this post Link to post Share on other sites
CCC 31 Posted October 21, 2020 The FSB used to offer heavily discounted rates on what’s now Worldpay (can’t remember what it was called when I started with them) when I had my old business. If you take serious amounts via card then you can negotiate the rates beyond that too. With the car business we just used bank transfer, far easier and no risk of chargebacks which was a nightmare with cards as bank always sided with the customer. Share this post Link to post Share on other sites
Halfpenny 114 Posted October 21, 2020 BACS for me on sales. Cards and cash accepted in the workshop though. It seems that as card use increases, so do the charges! This is the wrong way round. Once these companies have achieved their aim of a 'cashless society' they will hike charges through the roof. I fight back, I use cash wherever possible in personal transactions - shopping etc. Share this post Link to post Share on other sites
MrC 142 Posted October 21, 2020 We dont take cards at all, its BACS and very occasionally cash with small job but thats a pain in the ass to be honest. No ones has ever winged about BACS. Share this post Link to post Share on other sites
A & S 20 Posted October 21, 2020 We ask for bank transfer on all payments, however if customer can't do bank transfer then we will take a deposit by debit card not credit card, balance to be paid by bank transfer everytime. Credit cards definitely a no no but charge backs can be done on Visa debit card payments. Share this post Link to post Share on other sites
Frank Cannon 812 Posted October 22, 2020 A few radio ads about the benefits of using a debit card including charge backs.....appealing to the person who doesn't line the card companies pocket......just drives away the business es to sign up.... who are these idiots whom come up with these bright ideas, you couldn't make it up. Share this post Link to post Share on other sites
trade vet 701 Posted October 22, 2020 55 minutes ago, Frank Cannon said: A few radio ads about the benefits of using a debit card including charge backs.....appealing to the person who doesn't line the card companies pocket......just drives away the business es to sign up.... who are these idiots whom come up with these bright ideas, you couldn't make it up. Could it be the director of brand awareness.To quote CJ the Sunshine Deserts MD ( Fall and rise of Reggie Perrin ) ‘I did not get where I am today without knowing a brand awareness director when I see one ‘. 1 Share this post Link to post Share on other sites
umesh 336 Posted October 22, 2020 3 hours ago, trade vet said: Could it be the director of brand awareness.To quote CJ the Sunshine Deserts MD ( Fall and rise of Reggie Perrin ) ‘I did not get where I am today without knowing a brand awareness director when I see one ‘. "Reggie Perrin" - If you know you know !! most on here will ge Googling that I reckon @trade vet !! 1 Share this post Link to post Share on other sites
David Horgan 564 Posted October 22, 2020 5 minutes ago, umesh said: "Reggie Perrin" - If you know you know !! most on here will ge Googling that I reckon @trade vet !! That shows your age Umesh But I too remember as well 1 Share this post Link to post Share on other sites
Frank Cannon 812 Posted October 22, 2020 Brilliant programme 1 Share this post Link to post Share on other sites
NacMan 67 Posted October 23, 2020 Has anybody tried inspire payments? seem quite cheap 0.29% Share this post Link to post Share on other sites
MattR 177 Posted October 23, 2020 Encourage the bank transfers, most will do it. My card machine gets used more for deposits than anything else now, but for anyone who does online banking on their phone (and it may be more than you think) I encourage deposits that way too. Its your money, add up how much it would cost to process your turnover each year using a card machine and you'll feel sick. Share this post Link to post Share on other sites