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QuickBooks Payments Review

By
Lori Fairbanks
,
business.com writer
| Updated
Jun 15, 2019
Home
> Finance
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QuickBooks Payments is the credit card processing service offered by Intuit, a leader in the business software industry. With it, you can accept credit and debit cards in person using a mobile credit card reader attached to your phone or tablet or through online invoices you send your customers using QuickBooks Online. For small businesses that use QuickBooks accounting software, QuickBooks Payments is a convenient processor to work with because it seamlessly syncs your payment data into your accounting system, allowing you to see your sales data in real time. 

Intuit QuickBooks Payments

Intuit QuickBooks Payments

The Best Mobile Credit Card Processing Solutions of 2019

The Verdict

QuickBooks Payments makes it easy for small businesses that use QuickBooks to accept payments on the go or online through invoices sent using QuickBooks.

Visit our best picks page to see all our recommendations for credit card processing companies. 

QuickBooks Payments doesn't provide you with your own merchant account but sets you up with a subaccount under its master merchant account with Chase Paymentech. The benefit of this is that you can set up an account quickly, you pay flat processing rates and there are fewer fees than you would otherwise pay. QuickBooks' GoPayment app is compatible with Android and Apple devices, as are the card readers offered by this company.

Pricing & Terms

QuickBooks Payments has two pricing plans. The best option for small businesses is the pay-as-you-go plan that doesn't charge you a monthly fee. If you process more than $7,500 per month and most of your transactions are conducted in person, the monthly fee plan may be worth considering, as rates are lower. If you want to switch plans, you can do so once every 12 months. 

Rates

The processing rates you pay depend on the plan you choose and how you accept payments – either in person using a card reader and the QuickBooks GoPayment app or online through invoices that you've sent your customers using QuickBooks Online. 

Non-monthly fee plan

  • 4 percent plus 25 cents: Cards accepted in person using a card reader
  • 9 percent plus 25 cents: Cards accepted when customer pays an invoice online
  • 4 percent plus 25 cents: Cards accepted in person and keyed or scanned into the app
  • ACH bank transfers are free 

Monthly fee plan

  • $20 monthly fee
  • 6 percent plus 25 cents: Cards accepted in person using a card reader
  • 8 percent plus 25 cents: Cards accepted when customer pays an invoice online
  • 2 percent plus 25 cents: Cards accepted in person and keyed or scanned into the app
  • ACH bank transfers are free 

Other fees

There are some fees that you may be charged on a per-occurrence basis or monthly for optional services that you choose to add to your account. Here are some examples.

  • $10: Returned check fee
  • $25: ACH/Electronic bank reject fee
  • $25: Chargeback fee
  • $9.95 per month: PCI service for non-monthly fee plan (optional). This Card Data Breach Forgiveness benefit is included with the monthly fee plan, but costs extra for the non-monthly plan. If you meet the requirements outlined in the agreement, the company will forgive one incident per calendar year, up to $50,000 per incident. 

There's no monthly gateway fee, no annual PCI fee, no setup fees and no monthly minimum processing requirement. 

Terms

There's no lengthy contract commitment, and because QuickBooks Payments provides service on a month-to-month basis, there are no early termination fees. The company posts its merchant agreement, acceptable use policy online and pricing schedule on its website, and you should read them before signing up for an account to verify that your business and the products and services you sell aren't prohibited, you know how much you'll be paying for the service and you understand the responsibilities you're agreeing to when you use this mobile payment facilitator as your processor. 

Payout

It takes two to three days to clear the account and deposit your funds into your business bank account, which is slightly longer than the two-day industry average. It takes the company five business days to deposit ACH transfers into your account. 

Features

Applying to process with QuickBooks GoPayment is easy, and you can complete the application online or over the phone. With QuickBooks Payments, you can accept all major credit cards and record cash and check payments. You can also accept ACH bank transfers as online invoice payments. 

Mobile credit card payment app. The QuickBooks GoPayment app works on Apple and Android phones and tablets. It includes basic point-of-sale features, allowing you to add the products or services you sell, create orders, accept payments and send receipts. 

Processing equipment options.QuickBooks Payments offers a free chip and magstripe card reader when you sign up for GoPayment. If you need additional units, you can purchase them for $19, which is one of the least expensive EMV mobile credit card readers we've seen. If you want to also accept mobile wallets like Apple Pay, Google Pay and Samsung Pay, you can purchase the All-in-One card reader for $49. 

Customer Support

If you need to reach customer support, you can call the company during extended business hours, use the live chat feature on the QuickBooks website or reach out via Twitter or Facebook. Online support resources include a searchable knowledgebase, FAQs, tutorials, a community forum and a blog. 

Drawbacks

Although the percentage rate that you pay for in-person transactions is lower than average, the per-transaction fee adds up quickly if you have small sales tickets.

Editor's note: Looking for a credit card processor? Click the Compare Quotes button below to have our sister site Buyer Zone connect you with vendors that can help.

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Intuit QuickBooks Payments

Intuit QuickBooks Payments

The Best Mobile Credit Card Processing Solutions of 2019

The Verdict

QuickBooks Payments makes it easy for small businesses that use QuickBooks to accept payments on the go or online through invoices sent using QuickBooks.

Lori Fairbanks
Lori Fairbanks
Lori Fairbanks has years of experience writing and editing for both print and online publications. After graduating from Brigham Young University with a Bachelor of Arts in English, she worked as a magazine editor and then as a freelance writer and editor for a variety of companies, including marketing firms and a medical university. She now writes for Business.com and Business News Daily about financial systems and services for small businesses, such as accounting software, credit card processing and point-of-sale systems.