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Intuit Merchant Services is a payment processing company that provides services for QuickBooks. It offers several different tiers of service including free, basic, and premier.
QuickBooks Payments, previously known as Intuit Merchant Services, is a payment processing platform that allows businesses to accept credit and debit card payments as well as ACH transfers. The technology works in tandem with QuickBooks, a popular accounting program. Recurring payments, invoicing, mobile card scanning, next-day deposits, and analytics reporting are among the additional features.
Why We Recommend QuickBooks Payments
The best accounting software for small companies is QuickBooks. Any company that uses QuickBooks and needs a simple payment processing solution should look at QuickBooks Payments since the two integrate smoothly and there are no monthly minimums or fees.
QuickBooks Payments is particularly well suited to:
In-person payments on a regular basis
One of the best mobile payment applications for taking in-person payments is QuickBooks GoPayment. Basic inventory listings, discounts, and taxes may all be created. However, it is only available to QuickBooks Online users.
Small B2B companies
QuickBooks’ invoicing and ACH capabilities make it an excellent choice for B2B payment processing, especially if your company already uses QuickBooks for accounting.
Invoicing for small businesses
For real-time, completely integrated cash flow reporting, QuickBooks Payments syncs your invoice information with your other payments information. Because you can handle low-cost ACH transactions, it’s one of the finest methods to make recurring payments.
Need a free merchant account for a new business
Despite the fact that QuickBooks Payments needs a QuickBooks Online membership, there are no extra monthly or startup fees, processing minimums, or other software costs. QuickBooks is one of the finest free merchant accounts because of its versatility.
QuickBooks Payments offers a Cash Flow Center with a real-time dashboard that monitors company finances without the need for complex spreadsheets, making it a perfect match for companies seeking to maintain an eagle watch on cash flow.
When QuickBooks Payments Isn’t the Best Option
- Businesses that don’t utilize QuickBooks: Because QuickBooks Payments is only compatible with QuickBooks, you’ll need to be on the platform already or be prepared to move. Any company that does not use QuickBooks for accounting should look for a new merchant account provider.
- Businesses that need a complete point-of-sale (POS) system: QuickBooks QuickBooks does include a classic countertop POS, and GoPayment is an excellent payment tool for infrequent and low-volume transactions. However, it is not one of our recommended retail POS systems due to restricted hardware compatibility, lack of cloud connectivity, and chargeable customer support. Instead, go with one of our suggested retail credit card processors or restaurant merchant account providers, both of which operate with a number of software systems.
- Businesses that take overseas payments: Because QuickBooks Payments does not operate with international currencies, no foreign exchange rates are built-in. Small companies should use PayPal, while established firms should use Helcim, which provides worldwide payments.
QuickBooks depends heavily on its ecosystem of products, so merchants who choose just one are frequently tied into all of them. Other payment processors provide a wider range of integration options and provide more flexibility.
Overview of QuickBooks Payments
You’ll need to have your QuickBooks account set up before you can start using QuickBooks Payments. Then it’s only a question of signing in and configuring the backend: link your bank account and validate your company details. After that, you’ll be able to take credit cards and issue invoices.
Pricing for QuickBooks Payments
You’ll pay the following transaction fees in addition to your QuickBooks subscription ($15–$150 each month):
- ACH: 1% (maximum of $10)
- 2.4 percent + 25 cents for swiping a card
- 2.9 percent + 25 cents on invoiced cards
- 3.4 percent + 25 cents for a keyed card
These prices apply to companies with a monthly processing volume of up to $7,500. You may negotiate bespoke pricing over that rate. Discounts on QuickBooks Online memberships are occasionally available when you sign up or pay for several months in advance. You may also pay for a one-time accounting and account setup service.
There are no extra PCI, cancellation, or monthly minimum costs with QuickBooks. QuickBooks does charge a $25 chargeback fee, which is on the upper end of the industry norm (which usually runs from $15 to $25).
QuickBooks Payments has no minimum contract duration, and you may cancel at any time without incurring any fees.
Alternatives to QuickBooks Payments and Fees Comparison
Features of QuickBooks Payments
- Accept all Visa, Mastercard, Discover, and American Express credit and debit cards, as well as ACH bank transfers and NFC payments like Apple Pay.
- QuickBooks Accounting: QuickBooks Payments works in tandem with the rest of the QuickBooks software. This integration provides you with a complete picture of your company’s financial flow.
- When you set up the linked QuickBooks business bank account, you’ll get free fast deposits (even nights and weekends). Otherwise, card transaction deposits take 2–3 business days. Payments made via ACH bank transfer take longer to process.
- Historically, it took 2–3 business days for QuickBooks to deposit money from card transactions, and much longer for ACH payments. However, the business now provides free next-day financing to new clients who meet certain criteria.
- Invoicing: Invoices may be created, customized, and sent straight from QuickBooks. Invoices may be paid quickly and simply online or over the phone.
- Cash flow management: The Cash Flow Center’s real-time dashboard displays the amount of money flowing in and out at any one time. It also reconciles online and invoices payments automatically.
- QuickBooks GoPayment is a free linked mobile payment app that allows you to take cash, checks, and credit cards in person.
- QuickBooks provides customers with a free mobile card reader regardless of the package they select.
- Connect QuickBooks Payments to Shopify or BigCommerce through eCommerce.
The Ease of Use
- POS systems, card readers, cash drawers, and other hardware: QuickBooks offers its own range of POS systems, card readers, cash drawers, and other gear required to accept in-person payments.
- Merchants get a free mobile card reader that allows them to take in-person payments while on the move.
- Connections with third-party platforms: While QuickBooks works best inside its own environment, it also has integrations with Amazon, PayPal, Square, and Shopify.
QuickBooks has its own hardware, such as cash drawers, card readers, point-of-sale systems, receipt printers, and bar code scanners. It also integrates with a variety of third-party payment processing systems. QuickBooks makes it simple to make online, in-person, and even over-the-phone payments, as well as recurring, ACH, and invoice payments.
Additional compatibility with SOS Inventory, QuickBooks Time (previously TSheets), and Fathom is included in the lengthy list of software integrations. You can utilize QuickBooks Payments with your existing tech stack thanks to these connections.
Customer Service
When you’re on your dashboard, look for the Help button on any screen to access QuickBooks’ self-service help material. If you can’t find what you’re looking for on the website, you may start a live conversation or request a callback. You may also ask and answer questions from other QuickBooks users in the community forum.
Users’ Feedback
This platform is popular among QuickBooks Payments users. The program’s simple and clear design has been praised in several reviews. QuickBooks Payments’ ability to connect with other applications is highly praised by users.
- QuickBooks Payments has an average rating of 4.3 out of 5 from 44 user evaluations on Software Advice, with the best scores for simplicity of use.
- G2: QuickBooks Payments is rated 4.2 out of 5 stars on G2, despite the fact that there are just eight current user reviews.
The mobile payments app QuickBooks GoPayment gets the following ratings:
While the majority of the evaluations were favorable, some customers thought the fees were excessive and lacking in transparency. It’s also worth noting that QuickBooks Payments is only accessible to those who have a QuickBooks account.
QuickBooks Payments is a payment processor that QuickBooks users have access to. This simple tool is ideal for companies looking to keep a closer watch on their cash flow. Invoicing, recurring payments, next-day financing, mobile payments, a free mobile card reader, and a range of proprietary hardware are some of its finest features. QuickBooks is available for a free 30-day trial. Contact QuickBooks for additional information to see whether it’s a good match for your company.
Frequently Asked Questions
Is Intuit QuickBooks payment safe?
Intuit QuickBooks is popular accounting software that can be used to keep track of your finances. It is safe to use for paying bills, managing payrolls, and keeping track of income and expenses.
Does QuickBooks do merchant services?
Yes, QuickBooks does offer merchant services.
What are Intuit payments?
Intuit is a company that helps people manage their personal finances. They offer many payment options, including credit cards, debit cards, and prepaid cards.
