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QuickBooks Payments Review

By Lori Fairbanks, business.com Writer | Updated Mar 09, 2020

If your business uses QuickBooks accounting software, you may be interested in using QuickBooks Payments as your mobile credit card processor, because it can seamlessly sync your payment data into your accounting software, allowing you to see your sales data in real time. It's easy to set up an account quickly, there's no long-term contract, and the company charges flat processing rates.

QuickBooks Payments

QuickBooks Payments

The Best Mobile Credit Card Processing Solutions of 2020

The Verdict

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

With this payment processing service from Intuit, 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 via QuickBooks Online. QuickBooks' GoPayment app is compatible with Android and Apple devices, as are the card readers offered by this company.

Visit our best picks page to see all our recommendations for credit card processing companies. If you want to learn more about QuickBooks Online, check out our accounting software reviews.

Pricing and Terms

QuickBooks Payments has a few different pricing plans. The best option for small businesses is a pay-as-you-go plan that doesn't charge a monthly fee. But 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 the 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 QuickBooks plan you use 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. These rates apply to all types of cards, even American Express and corporate credit cards.

For QuickBooks Online users, pay-as-you-go plan:

  • Cards accepted in person using a card reader: 2.4% + $0.25
  • Cards accepted when customer pays an invoice online:2.9% + $0.25
  • Cards accepted in person and keyed or scanned in to the mobile app: 3.4% + $0.25
  • ACH bank transfers: 1%, with a maximum cost of $10

For QuickBooks Online users, monthly fee plan:

  • Monthly fee: $20
  • Cards accepted in person using a card reader: 1.6% + $0.25
  • Cards accepted when customer pays an invoice online: 2.8% + $0.25
  • Cards accepted in person and keyed or scanned in to the mobile app: 3.2% + $0.25
  • ACH bank transfers: 1%, with a maximum cost of $10

For QuickBooks Desktop users, pay-as-you-go plan:

  • Cards accepted in person using a card reader: 3.4% + $0.30
  • Cards accepted when customer pays an invoice online, or when card information is keyed or scanned in to the mobile app: 3.5% + $0.30
  • ACH bank transfers: $3

For QuickBooks Desktop users, monthly fee plan:

  • Monthly fee: $20
  • Cards accepted in person using a card reader: 1.6% + $0.30
  • Cards accepted when customer pays an invoice online, or when card information is keyed or scanned in to the mobile app: 3.3% + $0.30
  • ACH bank transfers: $3

Other Fees

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

  • Chargeback fee: $25
  • Returned check fee: $10
  • ACH/electronic bank rejection fee: $25
  • Instant deposit fee (optional): 1%. This service allows you to receive your funds faster than the standard two or three business days for credit card payouts or five business days for ACH transfers.
  • PCI service for nonmonthly fee plans (optional): $9.95 per month. This Card Data Breach Forgiveness benefit is included with the monthly fee plan but costs extra on the nonmonthly 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, annual PCI fee, setup fees or 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 either. The company posts its merchant agreement, acceptable use policy and pricing schedule on its website. You should read them before signing up for an account to make sure 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 processor.

Payout

It takes two or 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. An instant deposit service is available for a 1% fee. This option takes up to 30 minutes to deposit funds into your business bank account. To use this service, your account must be linked to an eligible debit card.

QuickBooks Payments 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 payments for invoices.

  • 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.
  • Invoice payments: You can send invoices with the Pay Now button and decide which payment options you want to give your customer (ACH bank transfer, credit card, debit card, PayPal or Apple Pay). When your customer receives their invoice email, they click the Pay Now button and enter their payment information.
  • Recurring payments: Under the Sales Receipts workflow, you can choose "make recurring" to schedule recurring ACH or credit card payments.
  • Processing equipment options: The company offers a free QuickBooks chip and magstripe card reader when you sign up for GoPayment. You can purchase an additional mobile card reader for $19, which is one of the least expensive EMV mobile credit card readers we've seen. If you want to also accept contactless mobile wallets like Apple Pay, Google Pay and Samsung Pay, you can purchase the QuickBooks 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, from 6 a.m. to 6 p.m. Monday through Friday and from 6 a.m. to 3 p.m. on Saturdays. You can also 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.

Limitations

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.

Image Credit: monkeybusinessimages / Getty Images
QuickBooks Payments

QuickBooks Payments

The Best Mobile Credit Card Processing Solutions of 2020

The Verdict

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

Lori Fairbanks: Staff
Lori Fairbanks,
business.com Writer
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.