Wisdom from The Action Wisdom In Action

How to Accept Credit Cards at Your Next Yard Sale

From Fox Business News. Groooooan...it's bad enough Mickey D's takes them!

"Garage sales have always been relatively low-tech affairs -- hand-labeled price stickers and an old cash box full of dollar bills are the usual tools of the trade. But if you want to sell a higher-priced item, such as a flat-screen TV or that barely used elliptical machine, the old-fashioned way might not be good enough anymore.

That's where credit cards come in. Because people tend to carry around more plastic than cash these days, it's worthwhile for garage sale proprietors to consider their options for taking credit cards. If you don't, you're limiting your audience to those who carry around a wad of cash, or perhaps risking getting ripped off by a bouncing personal check."

1. Paypal, ProPay, or other online payment site through a sale-site laptop

"The advantages of using online payment services are the ease of setup and use. Many of your garage sale patrons will already be familiar with sites like PayPal and may have accounts already set up. If not, they will still be able to use any major credit card on these sites. Most of these sites also allow you to e-mail a receipt to your buyers.

Of course, there's a cost that comes with using these services. Each site comes with its own fee system."

2. Square (for i-Phones)

"The latest technology available for credit card processing comes from Twitter creator Jack Dorsey. Square is a payment device that will allow you to turn your iPhone, iPad or iPod Touch into a credit card reader.

Download the free Square application for your device, set up an account and order your free card reader, which plugs into your audio input jack. The app allows your iPhone to process buyer signatures and verify your customers' identities through photos. Plus you'll have ability to e-mail receipts to your customers."

...

"In the event that they don't feel comfortable using your computer or iPhone to send you money, you can offer them the option of using their own. Many people carry their own smart phones and can send you money via PayPal or similar sites on the spot. Or they may wish to go home and send you the money from their own computer before picking up their purchase."

In my mind, if you don't have cash, you can't afford it.

Posted by Cute at 6:55 PM

Labels: economy, financial (non-tax)