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  • From: Darren Young <darren AT thegardenspace.com>
  • To: Market Farming <market-farming AT lists.ibiblio.org>
  • Subject: Re: [Market-farming] Square up
  • Date: Mon, 14 Feb 2011 12:45:24 -0600

It's not just credit but debit cards. I'll use my personal spending as an example. I NEVER go to the cash station these days as I refuse to pay to get my own money. My bank, US Bank, not only doesn't charge me for debit transactions but I get 2% back monthly on debit card purchases. I have the money, it's there in the bank (not credit), it's convenient and I get paid to spend my own money (which I'm already spending). I very, very, very rarely keep cash in my wallet for personal purposes.

We also sell seeds, plants and supplies on eBay and have done so since 2007. Originally we would receive checks and money orders as payment but eBay did away with that in like 2008 or sometime. Taking PayPal payments is just part of that line of business and honestly, we pay more in eBay & PayPal fees than Square Up could possibly come close to.

People I've spoken with in our market (suburban Chicago) say that after taking credit/debit they increased overall sales by 15-20%. They also say that it increases the higher priced items as many people don't carry large amounts of cash around here, especially as you get closer to the city itself.

On Mon, Feb 14, 2011 at 11:02 AM, Vern and Amy <vaspencer AT sisna.com> wrote:
Can anyone tell me how much more they make by taking credit cards vs. not?  I have a tracphone only, and two banks within rock-chucking distance of our stand.  If people are short on cash, that is how far they have to go to get more.

Vern
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