9 Replies Latest reply: Jul 2, 2012 2:58 AM by jazzalbart RSS

    Merchant Account

    New Member
    linko59 Feb 18, 2011 5:48 PM

      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

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        • Merchant Account
          Active Contributor
          laura Feb 18, 2011 8:34 PM (in response to linko59)

          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

          • Merchant Account
            Contributor
            ravetildon Mar 1, 2011 9:30 PM (in response to linko59)

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

            • Merchant Account
              New Member
              mmatchev Mar 2, 2011 2:48 AM (in response to linko59)

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

                • Merchant Account
                  sophie Senior Contributor
                  sophie Mar 5, 2011 10:03 PM (in response to mmatchev)

                  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!

                    • Merchant Account
                      New Member
                      neilio Mar 10, 2011 10:08 PM (in response to sophie)

                      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

                        • Re: Merchant Account
                          Contributor
                          gmajay Mar 14, 2011 11:00 AM (in response to neilio)

                          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.

                    • Re: Merchant Account
                      New Member
                      jazzalbart Jul 2, 2012 2:58 AM (in response to linko59)

                      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