Friday, August 2, 2013

Mobile Credit Card Processing Options for Taxi and Limo Drivers



Taking credit cards is no a hassel anymore with preferred card services

 

It was the year 1979 and virtually no one accepted credit cards as a form of payment for services in the taxi industry. Drivers seem to not be trusting the monetary value of credit cards. The industry remained unchanged for a number oi years. If a driver took a credit card, they were usually forced to pay a 10% service fee to the company they had their car signed up with to cash the credit card charge. This became very expensive for the driver. Now in addition to paying cab dues to the owner of the company, he also had to pay for gas,insurance, maintenance on the car and add on the cost of cashing credit card charges and a driver stood to loose and additional $100-$300 per week to pay for credit card processing fees. Most driver refused to accept credit cards because of the additional costs.
A cash less society
Improvements in computers and the way humans interacted with them helped move the economy to a cash less society. Faster computer speeds can process a credit card transaction in a millisecond. Previously the space required to set up a computer to process bankcard transactions required several hundred square fee of office space; but now,that same computer fits into the palm of you hand using smart phone technology. Also major urban center have city agencies that enforce Taxi regulations and require cab companies to now accept credit cards. This current situation gives rise to opportunity for companies like Square and Taxipass and Uber to step in and fill the void created by city taxi regulations.


Credit Card processing Options For the Taxi Industry
Uber:
Except for the state of Massachusetts, Uber is facing some form of legal challenge from the taxi and limousine industry. They now have litigation on-going in New York, Chicago, and San Francisco. They prey on the Naive taxi and limo driver to help them perpetuate their illegal scheme to exploit taxi and limo regulations that allow the taxi and limo dispatch apps for smart phones to be used to run a taxi or limo service over the internet circumventing state laws and city ordinances.
Uber charges drivers 20% of the fees they collect from customers in advance before the pickup is made by the driver. There is no need for a merchant account as Uber processes each customers credit card transaction. The only requirement for a driver to work for Uber is to have the a late model Town car or SUV and the correct type of liability insurance Each driver a receives a new smart phone from Uber to get dispatches but the driver must respond within 15 minutes.
Uber founder Travis Kalanick has been sued for 250 billion dollars for copy infringement by the movie industry(1). The company currently faces law suits in several cities over their blatant exploitation of loop holes in the taxi and limo industry regulations. Lastly, drivers are charged 20% so they can get the calls they need to feed their family. Drivers should consider other options for credit card services.

Square:
This mobile iPhone app allows manually keying in the credit card details or even swiping the card from the Square Reader, a tiny plastic device plugging into the audio port of a supported cell phone or tablet as well as reads the permanent magnet stripe.
It's very easy to use and you can get set up and process bank cards in very little time. It draw backs are no customer service for drivers with deposit issues. If you process more than $ 1,000 per week in charges, that money is held for 30 days before it becomes available. If you do a lot of transactions over the phone and don't swipe your customer's card in person, it's very expensive. Square advertises 2.75 % but when you key in transactions, you going to pay 3.5% plus 15 cents per item processed. If you doing less than a thousand dollars a week as a cab or limo driver, you don't need credit card processing you need food because you are starving. There is better option available for taxi and limo drivers.

Accepting Mobile Payments:


 Driver should avoid using Uber if not for the fact of their flagrant disregard for the laws of the taxi and limo industry, then for the sake of you trusting your dollars to a company whose history is one of dishonesty. Uber founder Travis Kalanick is accused of defrauded the movie industry of billions. of dollars. Drivers remember-Caveat emptor!

Square is a better alternative that Uber but it also has its disadvantages. For instance, a lack of customer service and in the event your processing more than $ 1,000 per week. However at 2.75%, processing costs will still be expensive

Preferred merchant Services is a smart solution for cab drivers because of its low cost . You'll get setup on authorized.net Drivers using authorize.net can download the app to their smart phone and process charge cards just like using the square app. Now you know, you don't have to be square anymore. The app is simple to use and they have great customer.
Benefits of using Preferred merchant Services

Rates as Low as 1.50 %
 Get 33% Higher Fares vs cash fares

Fast & Simple ( Credit Card Transactions take micro-seconds not minutes)
24/7 real customer customer support
Payments Made in 24-48 hours
Free Wireless Credit Card Terminal
Bigger Tips
Rebates on Taxi Equipment

Preferred Merchant Services is my choice for credit Mobile card processing in the event you don't want your own merchant account. You can get paid in 24-48 hours. In addition to this, you can speak to a real human being instead of wasting your time trying to reach a customer service rep that will never respond. Lastly you'll  pay any  low fees for credit card processing and card settlements go directly into your bank account.Open your Account today. Just Download the Credit card processing application today
    
If you want to learn more about Understanding Merchant Services and Credit Cards Processing Fees
, please click the link for a more detailed explanation

2 comments:

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