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Topic: Most common ISGC Purchase Method? |
Chris LeDrew
From:
Canada
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Posted 13 Aug 2006 8:57 pm |
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| I'm planning on a few purchases during the weekend. It's my first time attending, and I was wondering if I should be prepared to pay for more stuff with cash or Visa. What is the most common transaction method at the ISGC? [This message was edited by Chris LeDrew on 17 August 2006 at 10:28 AM.] |
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Jack Stoner
From:
Kansas City, MO
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Posted 14 Aug 2006 1:49 am
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| I've never bought a "big item" (e.g. a guitar), but everything else I bought was always cash. |
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Charlie Tryon
From:
Glovertown Newfoundland, Canada
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Posted 14 Aug 2006 4:44 am
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Chris VISA works real good just have a high limit on it !!! Was great to see you in NFLD and you played great.
Charlie[This message was edited by Charlie Tryon on 14 August 2006 at 05:45 AM.] |
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Chris LeDrew
From:
Canada
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Posted 14 Aug 2006 4:58 am
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Thanks, Charlie. It was great to meet you too. I'm looking forward to having a drink and a proper chat with you in St. Louis, seeing that I was a little bit scattered that night trying to find a bathroom and get to the stage all in five minutes. Ya gotta love arenas...... 
I'll be registered at the Millenium as of Thursday evening. Give me a ring if you get the chance. |
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Herb Steiner
From:
Briarcliff TX 78669, pop. 2,064
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Posted 14 Aug 2006 5:38 am
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At steel shows I accept cash, m.o.'s, and personal checks. I don't do enough bidness for a credit card merchant account, except online with PayPal.
I think most vendors will accept personal checks for incidental items, but I could be mistaken. In 9 years of selling products, I've never gotten a bad check from a steel player.
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Herb's Steel Guitar Pages
Texas Steel Guitar Association
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Don Walters
From:
Saskatchewan Canada
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Posted 14 Aug 2006 6:18 am
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Chris, don't go the cheque route in the USA. By the time both banking systems have taken their cut it'll cost you nearly double the face value of the cheque.
[This message was edited by Don Walters on 14 August 2006 at 07:19 AM.] |
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Tony Palmer
From:
St Augustine,FL
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Posted 14 Aug 2006 6:36 am
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I beg to differ...i find a lot of the vendors do NOT accept credit cards...which is ridiculous (apologies to Herb), but their choice i guess.
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Don Walworth
From:
Gilmer, Texas, USA
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Posted 14 Aug 2006 6:56 am
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I'm not a merchant, but I can fully understand not accepting credit cards -- just another cost to a merchant added to his/her cost of attending the show and paying booth space. (merchants that normally have incidental items/products for sale. --- Big ticket items, like $3,500 pedal steel --- well, that merchant will most likely take plastic and not a personal check)
Nice to see personal checks are welcomed by some vendors. I'll be checking with Herb when I'm at the show (and other vendor's as well).
Wife and I are looking forward to a $Grand$ $Weekend$
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Don
West Coast Double 8 Nashville 112
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Chris LeDrew
From:
Canada
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Posted 14 Aug 2006 8:15 am
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So it looks like cash will be my best bet for smaller items. It's good to know that Visa will be okay for larger items, although I've been read the riot act about bringing home another steel.
Thanks for the input, guys. |
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Rob Parker
From:
Paducah, Kentucky, R.I.P.
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Posted 14 Aug 2006 8:44 am
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Most of the time, good old cash is the best...it's not everything, but it is a good substitute for credit...I know it is more costly to set up a merchants account to accept credit cards..also for more costly purchases, they want to phone it in to obtain an authorization number..this requires them to have phone access to the card company..
And as Herb said, a lot of the venders accept personal checks, and their track record is good on not getting bad checks...
My personal thanks to any and all vendors who have accepted my checks, also thanks to the vendors who will take plastic...and thanks to the vendors who come to display their products, if they only take cash...they all contribute to help promote the show...
Looking forward to another great show....
RP...'come on in'... [This message was edited by ROB PARKER on 14 August 2006 at 09:45 AM.] [This message was edited by ROB PARKER on 14 August 2006 at 09:46 AM.] |
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Ron Page
From:
Penn Yan, NY USA
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Posted 14 Aug 2006 9:17 am
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Tony is right that many do not take the credit cards and that can be a bit of an inconvenience. However, there is an ATM in the Millenium that didn't hook me too bad for cash a couple years ago.
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HagFan
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John Fabian
From:
Mesquite, Texas USA * R.I.P.
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Posted 14 Aug 2006 9:32 am
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| Quote: |
| I know it is more costly to set up a merchants account to accept credit cards..also for more costly purchases, they want to phone it in to obtain an authorization number..this requires them to have phone access to the card company.. |
Vendors would be wise to make it as easy as possible to accept as many different forms of payment with which they can be comfortable.
It is not hugely more costly. Just slightly. Using a cellular or wireless pos terminal handles all the requirements for "instant approval". Just like using your credit card in any store right there in the booth.
Travelers checks in US DOLLARS would be better than cash from a user security point of view. (replacement if lost or stolen)[This message was edited by John Fabian on 14 August 2006 at 10:34 AM.] |
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Chris LeDrew
From:
Canada
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Posted 14 Aug 2006 9:32 am
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| As a Canadian, I want to be prepared in case it's hard for me to access money below the border. I can't really use Canadian checks due to the mentioned high bank processing fees, and it may be hard for me to use interac down there to access cash - not sure. So I'd like to plan in advance my method of payment for the things I plan to buy. Looks like I'll be going with American greenbacks - in a chained wallet. |
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Clarence Wilson
From:
morgantown wv usa
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Posted 14 Aug 2006 9:35 am
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I bought my first Carter on my last visit (1995) and wrote them out a check for the full amount. They carried it out to the garage and placed it in the trunk of our antique car. I have since purchased two more. My wife's 10 string and a 12 U for myself. Thanks Guys.
We plan to be there thurs eve, also. With a wad of money and using driving a modern toyota.
CEW |
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Gary Lee Gimble
From:
Fredericksburg, VA.
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Posted 14 Aug 2006 10:47 am
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| Quote: |
| Vendors would be wise to make it as easy as possible to accept as many different forms of payment |
A wise assessment.
| Quote: |
| It is not hugely more costly. Just slightly. |
This is where I have to disagree., but just slightly Retailers, like their customers must shop; shop around for a credit card processor. You'll find different rates and amount of time money is held before your account sees a credit/deposit. You must be detailed oriented to a potential card processor by stating a reasonable revenue forecast, anticipated monthly transactions and how the sale authorization will take place. Terminals where a card is swiped will be cheaper than a phone authorization, however a phone sale can be more involved. You may have to enter the buyers street number on their credit card billing addy, zip code and possibly a 3 or 4 digit code that is on the customers card. You may also be prompted to enter sales tax and a invoice #. If any of these prompts are not answered correctly, you will be charged more for the transaction. That is just another way for credit card processors to increase their profitability and possibly reduce fraud. Keep in mind there are fees and charges for everything and not all card processors have the same policies. YOU MUST ASK for all anticipated liabilities that is associated with taking credit cards. Some processors may charge you a $25.00 sign up fee, a monthly statement fee, fees for not playing banjo too! Don't get fumed when you get your statement and see charges on there you didn't know about, again, you must ask. Be sure to have a magnifying glass too, the font on your merchant agreement is a hair bigger than 3. Come to think of it, ask to see the agreement before you sign. Bottom line Herb, you may have limited your sales by not offering credit cards or you haven't done enough research in finding a card processor. There has been plenty research done that indicates credit cards add to the top line. Jim Cohen may sell out of his CDs which may produce a whole bunch of cash poor consumers, but if a credit card is taken Herb, you may sell out too. Besides, someone has to pay for those Skymiles... |
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Don Walters
From:
Saskatchewan Canada
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Posted 14 Aug 2006 11:02 am
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Chris, I was in Dallas twice and never had any problems getting money from a bank machine, or using a credit card with those who accepted them.
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Mike Mantey
From:
Eastern Colorado, USA
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Posted 14 Aug 2006 11:09 am
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Mullen takes all methods. All credit cards.
Looking forward to the trip.
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John Fabian
From:
Mesquite, Texas USA * R.I.P.
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Posted 15 Aug 2006 2:48 am
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Gary,
Yes, as with anything you buy it pays to shop around.
Swiped cards (face to face transactions) are almost always cheaper than other types. the fees are just the cost of doing business and should be calculated in the price of the merchandise. Note that a processing fee of 2% on a $3,000 transaction comes to $60 and I don't think that will kill a sale. (on a $15 CD it would be 30 Cents) |
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Gary Lee Gimble
From:
Fredericksburg, VA.
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Posted 15 Aug 2006 4:03 am
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| Quote: |
| the cost of doing business |
Depending on who is making that analysis, the "cost" may be a cheap facade. About 2 years ago, a card processor from California sustained a class action suite because their cost of doing business was to insure a healthy bottom line. A few savory retailers made time to filter through their monthly credit card settlement statement which was BTW thicker than a Yellow Pages book, and found many erroneous charges.
2% is a deal, maybe typical of your area? 3-4% is the norm around here when a retailer offers ALL cards. ..debit, credit, reward cards, company cards, incentive cards, cards that are over the limit, someone has to pay...
John, you should see our monthly statements
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Tony Palmer
From:
St Augustine,FL
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Posted 15 Aug 2006 7:25 am
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Part of the point I was making about bringing up the lack of credit card acceptance is:
When I go to these shows, I'm travelling a great distance and am prepared to take back a lot of products I don't normally have access to.
These are generally impulse purchases and if I'm running out of cash and I see 3 or 4 CD's I wouldn't mind having or a tab course, I'm not going to look for an atm machine I'm just gonna pass on the purchase.
On the other hand, if they take credit cards, its a sale.
What's a 2 or 3% charge on a $50 sale: a dollar, dollar-fifty?
Compared to a lost $50 sale..it doesn't make sense. |
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Bob Maickel
From:
Floral Park, NY
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Posted 15 Aug 2006 2:27 pm
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Another alternative is Travelers Checks. They are safer than carrying a lot of cash, if you don't use them you can turn them in for cash or deposit them back in your bank account and they are readily accepted by most vendors.
At PSGA we don't accept credit cardsl, but we do accept personal checks as long as they are payable at a bank in the USA. Canadian personal checks are a big problem due to the conversion of currency and the assessed bank charges for processing. JP Morgan Chase charges a $20 service charge for a $27.00 Canadian personal check. |
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DeWitt Scott
From:
St. Louis, Missouri, USA * R.I.P.
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Posted 16 Aug 2006 3:31 pm
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| Scotty's Music accepts MasterCard, Visa and Discover cards AT THE CONVENTION! Scotty |
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Paddy Long
From:
Christchurch, New Zealand
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Posted 16 Aug 2006 3:54 pm
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| I discovered at the Dallas show this year that a lot of the smaller vendors did not accept credit cards which was a pain in the bum. I had to keep going to the machine in the lobby to draw out cash and then it would only let you have $200 at a time..There was probably a couple of things I didn't buy because of it. Out this way every man and his dog uses EFTpos or the Point of Sale via the cellphone and as John Fabian pointed out it is not an expensive option. I'm sure it would generate a lot more sales if it was available. My observations anyway ! [This message was edited by Paddy Long on 16 August 2006 at 04:55 PM.] |
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Chris LeDrew
From:
Canada
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Posted 16 Aug 2006 4:16 pm
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So the vendors will accept traveller's checks?
BTW...Thanks, Don W., for the heads-up on the possible snags with Canadian currency. I just found out that my bank card should work no problem. [This message was edited by Chris LeDrew on 16 August 2006 at 05:20 PM.] |
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Herb Steiner
From:
Briarcliff TX 78669, pop. 2,064
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Posted 16 Aug 2006 6:01 pm
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Okay, I'm going to investigate this.
The singer I work with, Gary P. Nunn, just started accepting CC's for his merch sales with a cell-phone based machine of some type. I'll find out the details and cost viability.
Probably won't have it available for ISGC, but perhaps soon afterwards if it's attractive enough for my purposes.
So, if personal checks, Amex Traveler's checks, money orders, and cash aren't enough for y'all at Scotty's, how about if I add Russian kopeks, and South African Krugerrands? 
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Herb's Steel Guitar Pages
Texas Steel Guitar Association
[This message was edited by Herb Steiner on 16 August 2006 at 07:02 PM.] |
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