Pros
- Predictable flat-rate pricing
- Seamless QuickBooks integration
- Inexpensive chip/contactless card reader
- Good for professional services and B2B invoicing
Cons
- Limited invoice customization
- Slow deposit times
- Inconsistent customer support
Table of Contents
- What Is QuickBooks Payments?
- User Reviews
- Final Verdict
What Is QuickBooks Payments?
QuickBooks Payments is a merchant services provider designed to integrate with Intuit’s QuickBooks accounting software. Like many top credit card processors, QuickBooks Payments uses Fiservas its back-end processor.
If you already use QuickBooks for accounting, the seamless integration with QuickBooks Payments will probably be a big draw. You also get invoicing, eCommerce support, and ACH payments at a reasonable cost with QuickBooks Payments.
We like that the per-transaction rates charged by QuickBooks for payments don’t include a fixed fee, which can help small-ticket sellers save on processing. All in all, the company earns a great overall rating as it is well-suited to the needs of its target audience. Read on for our full QuickBooks Payments review.
Products & Services
| Products & Services4.0 |
|---|
| Software & Services 4.0 |
| Hardware & Equipment 4.0 |
Offering a full merchant account, a strong selection of eCommerce-oriented payment processing features, a mobile POS, and a mobile EMV/NFC card reader for in-person payments, QuickBooks Payments earns a good score in this category.
When you sign up for QuickBooks Payments, Intuit will give you your own merchant account with soft monthly and per-transaction limits. More importantly, every account comes with a QuickBooks integration, though your plan and some of the features will depend on which version of QuickBooks you’re using.
QuickBooks offers the following features:
| Feature | Availability |
|---|---|
| Credit Card Processing | |
| ACH Payment Processing | |
| Cryptocurrency Processing | |
| Currency Conversion | |
| Dynamic Currency Conversion | |
| PCI Compliance | |
| Recurring Billing & Subscriptions | |
| Invoicing | |
| Native eCommerce Integrations | |
| Premade Online Checkout Form | |
| Native POS Integrations | |
| POS Integration SDK |
QuickBooks Payments can offer most of the features the average small business might be looking for. The trick is that some of QuickBooks Payments’ features are spread between different plans and settings. Selecting the right QuickBooks Payments plan can be a bit of an undertaking.
QuickBooks Money
QuickBooks now offers a bare-bones free plan separate from QuickBooks Online. Known as QuickBooks Money, this plan allows you to take online payments while giving you access to a business bank account.
QuickBooks Money lets you take credit and debit card payments along with PayPal, Venmo, Apple Pay, and ACH payments. You’ll also be able to send, receive, and track invoices. You won’t be able to use QuickBooks GoPayment to take in-person payments, automate recurring invoices, or access QuickBooks accounting features, however.
QuickBooks Payments (Standard)
The standard plan QuickBooks Payments offers new users comes bundled with QuickBooks Online itself. Everything is managed from within the app.
With this plan, you can send invoices, set up recurring payments, and even accept in-person transactions with sales receipts wherever you are. When you generate invoices and sales receipts, you can pull from your customer list and populate the invoice from your product/service catalog.
You can use a USB-connected swiper to take card payments on a computer. But since QuickBooks Online offers its GoPayment mobile app for Android and iOS, you can also connect a GoPayment card reader to accept payments.
Note that inventory tracking isn’t available with QuickBooks Online’s Simple Start or Essentials plans. Only Plus subscribers ($90/month) gives you access to inventory features.
While the differences between the Online and Desktop versions of QuickBooks are significant enough to warrant their own article, many users report that the Online version isn’t quite as feature-rich. However, the processing rates for the online plan are cheaper.
QuickBooks Desktop Payments
The Intuit/QuickBooks payment processing plan for QuickBooks Desktop users isn’t quite as comprehensive, as the software lacks the cloud capabilities of its nimbler little sibling. It does offer some more advanced accounting features in exchange. However, you can’t accept mobile payments with the Desktop version.
QuickBooks Desktop Payments also charges higher transaction fees than the Online version of QuickBooks Payments, particularly for small-ticket sellers. What’s more, QuickBooks seems to be moving in the direction of phasing out QuickBooks Desktop itself, just as it recently announced the retirement of QuickBooks POS, the company’s locally-installed POS system.
QuickBooks GoPayment (Mobile Payment App)
QuickBooks GoPayment syncs automatically with QuickBooks Online and lets you take payments via smartphone or tablet. There is an item library, but you can just enter a quick sale without selecting a product. You can also collect taxes and tips. While you can accept payments from within QuickBooks Online, if your business is more retail-like, then GoPayment is probably the better option. It’ll certainly feel more familiar.
In addition to the app, you’ll need a card reader. The QuickBooks Card Reader accepts both contactless and EMV/chip transactions and connects to your phone or tablet via Bluetooth. You can also use it as a virtual terminal with QuickBooks Desktop using a USB cable.Check out our GoPayment review for more details.
Fees & Rates
| Fees & Rates4.2 |
|---|
| Pricing 5.0 |
| Affordability 3.4 |
Below is an overview of the current rates and fees you’ll pay for using QuickBooks’s merchant services. Be aware that if you process more than $7,500 per month, you should be eligible for custom processing rates, which should be lower than the advertised processing fees.
This, combined with the lack of a per-transaction fixed fee (unless you’re using QuickBooks Desktop Payments), means that both high-volume sellers and small-ticket merchants have something to like about QuickBooks Payments pricing. That’s why we’re giving them a high score in this category.
QuickBooks Payments Pricing
QuickBooks Online notably supports PayPal payments, which you won’t get with the Desktop version. Here’s a breakdown of the disclosed QuickBooks Online and GoPayment merchant rates and fees:
- ACH Bank Transfers: 1.0% (up to a maximum of $10)
- Swiped/Dipped/Tapped Payments: 2.5% per transaction
- Online Payments (Includes Credit/Debit Cards, PayPal, And Apple Pay): 2.99% per transaction
- Keyed-In Payments: 3.5% per transaction
Note that online payments with QB Money and QB Online cost 2.99% per transaction. It’s a higher percentage fee than the standard 2.9% + $0.30 per-transaction fee charged by Square, Stripe, and others, but it cuts out the fixed 30 cent fee entirely. Small-ticket merchants stand to gain the most from this pricing scheme, which we appreciate.
There is no monthly fee specifically for this service, but you will need a QuickBooks Online subscription. Rates start at $30/month for the Simple Start plan and run up to $200/month for the Advanced plan. Full subscription pricing details are listed in our QuickBooks Online review. Intuit currently offers a 50% discount off these rates for new customers but only for the first three months of your subscription.
QuickBooks Desktop Payments Pricing
One thing to note is that the QuickBooks Desktop version of Payments does not include PayPal support. You’ll also see that ACH transactions cost $3 each, whereas they are 1.0% each with the Online plan. You’ll also want to note that the per-transaction fixed fee is higher — not good for merchants with small average tickets.
Here’s what you’ll pay under the two QuickBooks Desktop subscription plans:
Pay-As-You-Go Plan
- Monthly Fee: $0
- ACH Bank Transfers: $3 each
- Card Swiped: 2.4% + $0.30 per transaction
- Card Invoiced: 3.5% + $0.30 per transaction
- Card Keyed: 3.5% + $0.30 per transaction
Pay Monthly Plan
- Monthly Fee: $20
- ACH Bank Transfers: $3 each
- Card Swiped: 1.6% + $0.30 per transaction
- Card Invoiced: 3.3% + $0.30 per transaction
- Card Keyed: 3.3% + $0.30 per transaction
QuickBooks GoPayment Pricing
QuickBooks GoPayment was once offered on a standalone basis, but it has recently been folded into QuickBooks Payments. As such, the fees and rates for QuickBooks GoPayment are now the same as those of QuickBooks Online/Payments.
You can use the QuickBooks Card Reader in conjunction with GoPayment to accept mobile payments. This simple mobile chip/contactless card reader costs $49.
Other Fees
If you decide to opt-in for the PCI compliance service with the pay-as-you-go option, you’ll be charged $9.95 per month. For monthly fee accounts, PCI compliance services are included as part of your monthly account fee. You’ll also be liable for the following incidental fees:
- $25 chargeback fee
- $25 ACH/bank reject fee
- $10 returned check fee
Sales & Advertising Transparency
| Sales & Advertising Transparency4.9 |
|---|
| Sales Practices 5.0 |
| Web Presence 4.7 |
While it can be a pain to sort through all the service and pricing permutations QuickBooks offers for payments, everything is fully disclosed on the QuickBooks website. Additionally, the company doesn’t make use of independent sales agents, who have a deservedly bad reputation in the payment processing industry. We’re giving QuickBooks Payments an excellent rating in this category.
Contract Length & Early Termination Fee
| Contract4.6 |
|---|
| Commitment 5.0 |
| ETF & Other Fees 4.2 |
With QB’s payment processing, there are no multi-year contracts to sign and no early termination fees to pay if you cancel your subscription. You won’t have to worry about monthly minimums or rolling reserves, either. QuickBooks Payments earns its high score in this category.
With QuickBooks Online, you can opt for month-to-month billing or annual billing. If you opt for an annual subscription and cancel during your subscription year, you’ll get a prorated refund for the remaining period of your subscription. And remember, if you opt for basic online processing with QuickBooks Money, there’s no monthly or annual fee, just the cost of processing.
Customer Service & Technical Support
| Customer Service2.9 |
|---|
| Personal Support 2.8 |
| Self-Service 3.0 |
While many users complain about the quality of QuickBooks merchant services support, I can say that Intuit’s customer service is quite streamlined. The QuickBooks Payments FAQ is enough to answer most basic questions, with phone support available if you prefer to talk to real people.
| QuickBooks Payments Support | Availability |
|---|---|
| Phone Support | |
| Email Support | |
| Support Tickets | |
| Live Chat | |
| Dedicated Support Representative | |
| Knowledge Base or Help Center | |
| Videos & Tutorials | |
| Company Blog | |
| Social Media |
Phone support is available Monday-Friday, 5 AM to 6 PM PT. Outside those hours, unfortunately, you’ll need to use another support method. The inconsistency of the support quality reported by merchants means QB’s customer service score lags behind its score in the other categories.
User Reviews
| User Reviews4.0 |
|---|
| Customer Feedback 4.0 |
| Review Site Aggregate 4.0 |
QuickBooks Payments doesn’t have many review pages online as a distinct entity, but it does have review pages up at G2 and GetApp, where it earns average scores of 3.8/5 and 4.2/5, respectively. Taking these review averages and the overall complaint volume into account, QuickBooks Payments deserves the solid marks we’re giving it in this category.
Negative Reviews & Complaints
QuickBooks Payments doesn’t have its own Better Business Bureau page separate from Intuit’s unaccredited profile (not rated with 3,554 complaints closed in the last three years). However, you can find a handful of complaints directed at the company’s payment processing service there.
You can also find complaints on other review sites across the web, though you won’t find a lot of threads devoted exclusively to QuickBooks Payments. Many merchants just lump it in with the QuickBooks suite of products.
Here are the complaints I’ve seen in QuickBooks Payments reviews:
- Long hold times for customer service
- Long deposit times (two-three days)
- Lack of customizable invoices
- Poor customer service
All in all, these aren’t terrible complaints, and the overall volume that I’ve seen is relatively low. But these are complaints from actual users, and the lack of some features might be a deal-breaker for other merchants.
Positive Reviews & Testimonials
While you’ll find a few anonymous, superficial (and all positive) reviews on the QuickBooks Payments site, I could not find any in-depth case studies or testimonials demonstrating the effectiveness and value of Intuit’s offerings. I’m not surprised, given how fragmented the information about QuickBooks Payments is.
Here’s what I have found from satisfied Intuit customers:
- Easy integration with QuickBooks products
- Invoicing and reminders
- Good rates
Final Verdict
Given the progress made by Intuit in transparency and pricing, as well as its ability to provide a fairly frictionless, seamless merchant experience, QuickBooks Payments deserves its strong overall rating.
If you like the QuickBooks interface and brand, QuickBooks Payments could be a great payment processing option. With online invoicing, a powerful mobile app, eCheck/ACH acceptance, QB bookkeeping integration, and the stability of a full merchant account, a lot of business ground is covered.
Whether QuickBooks Payments will be a viable option for your business depends on the following:
- Are you a QuickBooks user?
- Is seamless QuickBooks integration with your merchant services a priority?
- Does your transaction volume fit the flat-rate pricing on offer? (Remember, if you process over $7,500/month, Intuit offers discounted rates)
What’s more, the elimination of QB Payments’s $0.25 fixed per-transaction fee, combined with the introduction of the free QuickBooks Money service for those who don’t need an accounting subscription, makes QB’s processing a great deal for small-ticket merchants as well. When percentage-only flat rates for processing are offered by a merchant services provider, it’s usually for card-present transactions, not online transactions. It’s a great facet of the service, and QuickBooks ought to draw more attention to it!
When pricing your options, just remember that, with the right gateway pairing, any of our top-rated merchant services providers can set you up with a processing account and QB integration.
