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4617 Views 9 Replies Latest reply: Jul 2, 2012 2:58 AM by jazzalbart RSS
New Member 4 posts since
Feb 16, 2011
Currently Being Moderated

Feb 18, 2011 5:48 PM

Merchant Account

We recently started renting out our condo on VRBO but at this time are only accepting checks. We are thinking of accepting credit cards but unsure of which company to use. I was thinking of going with PPI and wanted to hear what anybody else uses or the pros and cons of using PPI.

 

Thanks

Lynn

  • Active Contributor 343 posts since
    Nov 18, 2010
    Currently Being Moderated
    Feb 18, 2011 8:34 PM (in response to linko59)
    Merchant Account

    Hi there,

     

    If you haven't already, you may want to check out this discussion related to credit card processing, and this one on accepting payments.

     

    Hopefully, other members will chime in on your specific question about PPI.

     

    All the best,

    Laura

     

    Laura Kelso

    HomeAway Community Manager

  • Contributor 62 posts since
    Mar 1, 2011
    Currently Being Moderated
    Mar 1, 2011 9:30 PM (in response to linko59)
    Merchant Account

    Paypal i sa good start and it's free of monthly charges.

  • New Member 3 posts since
    Mar 2, 2011
    Currently Being Moderated
    Mar 2, 2011 2:48 AM (in response to linko59)
    Merchant Account

    Register for 2CO and accept credit cards. It's working perfectly for me and it's free.

    • sophie Senior Contributor 964 posts since
      Mar 4, 2011
      Currently Being Moderated
      Mar 5, 2011 10:03 PM (in response to mmatchev)
      Merchant Account

      I've used PPI for my merchant account for years.  Renters love paying with credit cards and I love the money in my account so fast!

      • New Member 1 posts since
        Mar 10, 2011
        Currently Being Moderated
        Mar 10, 2011 10:08 PM (in response to sophie)
        Merchant Account

        I can't find the PPI rates on the website to compare with others - does anyone know what the rates are? When I looked a few years ago there were a number of plan choices listed but now I see nothing

         

        Thanks,

        Neil

        • Currently Being Moderated
          Mar 14, 2011 11:00 AM (in response to neilio)
          Re: Merchant Account

          PPI still has several types of plans according to my understanding. I choose to forgo the plan with the monthly charge of about $25 (at least that's what it was when I gave it up) with the lower service rate (I don't know what they are) as there are months when I don't do any processing. In exchange for not paying the monthy charges, I pay a higher service rate on Visa, MasterCard and Discover (no AMEX).  For US transactions, it's 3.5% and for international transacations 4.5%. There are additional fees and charges will usually add a few more dollars to each $1000 I process. I have found the charges a bit confusing at times, but have found PPI helpful with explaining the charges. Nevertheless, I am looking around for a less expensive merchant account if I can find a company that provides equally responsible customer service.

  • New Member 1 posts since
    Jun 21, 2012
    Currently Being Moderated
    Jul 2, 2012 2:58 AM (in response to linko59)
    Re: Merchant Account

    With a PPI policy it is essential for borrowers to pay attention to the fine print. Some lenders add the cost of the policy to the money being borrowed or credit being extended. This means that borrowers could take more credit than they intend to, and pay interest on the insurance policy to boot.


    credit card payment processing

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