Etsy Launches Credit Card Reader for In-Person Sales

by Sara Angeles, BusinessNewsDaily Staff Writer 

Wish there was an easier way to take your Etsy shop offline? From craft fairs to flea markets, brick-and-mortar stores or wherever your customers may be, Etsy sellers can now accept credit card payments anytime, anywhere.

Etsy launched today (Oct. 23) its new mobile credit card reader that lets its sellers accept credit and debit card payments for in-person sales. This new service gives Etsy sellers more selling potential and a better way to manage their Etsy shops and accounts.
"We know that many of our sellers sell in channels other than their online Etsy shop," wrote Camilla Vasquez, director of the payments and multichannel sales at Etsy, in the announcement of the new mobile credit card reader. With 90 percent of retail sales occurring offline and 35 percent of Etsy sellers selling at craft fairs, Etsy aims to provide better tools that "help Etsy sellers be more efficient in what they’re already doing in multiple sales channels," Vasquez added.

Features

The Etsy credit card reader isn't just any credit card processor or point-of sale (POS) system. Designed specifically for Etsy sellers and their shops, its main purpose is to let sellers better manage their Etsy accounts by streamlining on- and offline sales.

Using the Sell on Etsy app (required to use the reader), the offline sales are automatically integrated and adjusted for on the seller's Etsy account in real time. This includes inventory counts, listing data and total sales numbers. To process a sale, sellers can either choose from their existing listings or use the Quick Sale feature to enter a price for items not currently listed in their Etsy shops.

Offline transactions aren't limited to credit cards, either. Sellers can also accept cash and use the Sell on Etsy app to update their Etsy account and sales data.

As with sales made online on the Etsy shop, this new service can also deliver detailed email receipts to better connect buyers and sellers after offline purchases to further drive sales. Buyers can opt to receive receipts in their inboxes, which include photos of other items they may be interested in and links to that seller's Etsy shop.

Getting paid

The Etsy credit card reader and Sell on Etsy app work just like the Etsy shop. In-person sales will show up in your Shop Payment Account with your online sales and funds are deposited to your bank account every Monday.

Cost

Unlike most mobile credit card readers, Etsy doesn't charge a bunch of fees to use the service. Businesses will be charged only 2.75 percent per swipe (or 3 percent plus 25 cents for manual entries), but there are no transaction fees for in-person sales and there are no listing fees for Quick Sales and no setup fees or monthly minimums. The card reader itself is also free.

The Etsy credit card reader is currently available for U.S. sellers on iOS and Android devices.

Culled from http://www.businessnewsdaily.com/