Credit Card Questions

[MrHappy4u]

For years agencies have accepted credit cards and now I see one of our locals is accepting them. I'd like to hear opinions regarding security, how it appears on your statement, identity theft and other concerns, but my curiousity is killing me and I have one serious question . . .

Where do they swipe the thing to process it?

[Sweet N Little]

[Ginger Doll]

Lol!!! Mr.Happy...very creative.

The iPhone 4s has an app and a device that will connect to the phone to process credit cards. I have been considering starting to accept credit cards as payment, myself.

The problem is – what should my business name be listed as, so that it will be overlooked by the scrutinizing eye of an SO?

I do have a close contact that can help set any lady that's interested up with a credit card processing company... PM if interested.

[cowtoy]

Would a credit card record increase the risks of being caught for non-payment of taxes (not that anyone with a cash business would do that)

Would having a business account and license get you out of that LE deal of "running a business without a license"?

[Hogfan69]

You can buy the card swipes for almost any device now. Tablets and Droid phones too.

[urhuckleberry]

Originally Posted by Ginger Doll

The problem is – what should my business name be listed as, so that it will be overlooked by the scrutinizing eye of an SO?

Names that wouldn't attract attention:

Arkansas Razorbacks Football Fund

(a charitable contribution no doubt)



HUck

[TLC0323]

+1 huck i also sell avon so i use that for what i need

[jim1995]

Business name it O.P.P. You may need to be up on your 90's rap music for that one.

[Ginger Doll]

Originally Posted by jim1995

Business name it O.P.P. You may need to be up on your 90's rap music for that one.

Don't test me, Jim. I'm a fucking professional.

Other People's Property!

[Guest061415-1]

Being serious, I have a friend who used to run a number of porn sites. He had a major problem with men charging membership on their card, then calling the card company to dispute the charge. He said the credit card company believes rthe consumer, and puts the burden on the business to prove the charge is valid.

So this begs the question... if a provider accepted a CC, then after the appointment the client disputed the charge, what would the provider be able to do?

[TechOne]

Post the clients name in the Powder Room...no pay, no play!

[Ginger Doll]

Slingerland–– Supposedly, there is a way for the credit card processing company to specify (in the writing that precedes the signature line) that no refunds will be allowed. Once the client signs that, any disputes over charges incurred will be settled quickly by communicating the fact that he agreed to a "no refund" transaction to his credit card company. (Written proof provided upon request.)

And just as Giteneny said, putting someone on a blacklist is highly effective. Disputing the charges on the credit card transaction would be essentially the same thing as handing a provider an empty envelope. The reputable ladies around here really do stick together – if you screw one of us over, good luck getting references or appointments from any lady of quality in the future. Word spreads quickly when someone violates the system of accountability...

[MrHappy4u]

Originally Posted by cowtoy

Would a credit card record increase the risks of being caught for non-payment of taxes (not that anyone with a cash business would do that)

Would having a business account and license get you out of that LE deal of "running a business without a license"?

I would never recommend that anyone with a cash based business evade taxes. And there are ways to handle that portion of the business. Ladies, if you have questions, I'd be happy to discuss them one on one, not in a public forum.

The use of credit cards does make tracking of income easier.

Originally Posted by Slingerland

. . . . So this begs the question... if a provider accepted a CC, then after the appointment the client disputed the charge, what would the provider be able to do?

You're right Slinger, but as Ginger pointed out, there are ways around it. It just creates a hassle dealing with the processor.

The issues I see revolve around security and discretion -

1. revealing of complete name unless using a Green Dot card
2. issue of how provider's biz displays on credit card statement
3. if those with management will steal your money, they sure as hell would have a field day with your credit card

Can those issues be mitigated?

[Howl at the Moon]

In the end while being able to pay by card would be convenient- there are too many places for the process to go bump that have major impact. Most have been discussed here- but there are others.

All the transactions travel through a clearing system that keeps a data base. If anyone in the process is audited by the IRS and draws the extremely unlucky straw of getting their full detail audit, every transaction on your card accounts must be justified. (They used to call these TCP audits and they were for research and building predictive models. Now I think they just like making people squirm.) That could leave the lady involved vulnerable although I doubt that the feds would care much. however, the um... gentleman would have some splainin' to do - especially if a wife or CPA was there for the audit.

There is an entire universe of security stuff as well. A hobby phone is way more secure than a hobby card as there is still personal information involved.

Given that LE in general frowns on our chosen hobby- Cash, gift cards bought with cash and cash cards (Green dot) seem much much safer to me. Probably 99.999% of transactions would be just fine. but Murphy's Law being what it is, the impact of being the exception is too high to even consider.

[jim1995]

Three things that are for certain.
1. death
2. taxes
3. Me not ever using a credit card to hobby