Intuit QuickBooks Payments Review 2023: Fees, Complaints

Intuit’s enormous financial software firm provides various products aimed at small and medium-sized businesses, from accounting software to Point of Sales (POS) systems –  including QuickBooks Payments, a merchant services provider. 

Designed for use with QuickBooks, QuickBooks Payments extends the company’s accounting platform. While QuickBooks Payments does not act as a direct processor, it employs Fiserv (previously First Data) as a back-end merchant services supplier. 

Find out more exciting news about Inuit QuickBooks in this Intuit QuickBooks Payments Review 2023. 

What Does Intuit QuickBooks Payments Have to Offer?

It’s possible that you’ll be interested in using QuickBooks Payments as your mobile credit card processor if your company uses QuickBooks accounting software. QuickBooks Payments can smoothly integrate your payment data into your accounting system, enabling you to see your selling information in real-time. 

Establishing an account is fast and straightforward; the firm does not need a long-term commitment, and the company charges flat processing fees.

Intuit QuickBooks Payments Origin, Headquarters, and Owners

Intuit was created in Silicon Valley in 1983 by Scott Cook and Tom Proulx. For the fiscal year 2020, it expects to make $7.7 billion, and it now employs over 10,000 employees in 20 sites throughout the world. 

TurboTax, Mint, and QuickBooks are among the software programs available by the company. QuickBooks Payments, a feature of Intuit Quickbooks, allows customers to accept payments via several commonly used ways.

Interesting News in History

An A-plus grade from the Better Business Bureau (BBB) distinguishes Intuit as a reputable corporation. One favorable Intuit QuickBooks Payments Review: 45 bad reviews and 1,634 complaints have been received since launching services, but the concerns are directed at the corporation level rather than simply at the payments department. 

The firm has replied to most of the complaints, and the Better Business Bureau has determined that Intuit makes a “good faith attempt” to fulfill consumers’ needs. CardPaymentOptions.com gives it a B grade, although that rating is based on Intuit’s pricing from before 2014.

Intuit QuickBooks Payments Overall Services Offered

Applying to process with QuickBooks GoPayment is simple, and you can do it online or over the phone. Accept all major credit cards and track cash and check payments with QuickBooks Payments. 

Additionally, you can accept ACH bank transfers as an online payment method for invoices. The following are some of the features of the Inuit QuickBooks Payments:

• Processing Equipment Options

GoPayment will get a free QuickBooks chip and magstripe card reader when you join up. An extra mobile card reader can be purchased for $19, making it one of the most affordable EMV mobile credit card readers. 

If you also wish to accept contactless mobile wallets such as Apple Pay, Google Pay, and Samsung Pay, you can get the QuickBooks All-in-One Card Reader for $49.

• Recurring Payments 

You can plan periodic ACH or credit card payments in the Sales Receipts process by selecting “make recurring.”

• Invoice Payments 

You can send invoices using the Pay Now button and choose the payment alternatives to offer your client (ACH bank transfer, credit card, debit card, PayPal, or Apple Pay). 

When clients get an invoice, they click the Pay Now option and provide their payment details.

• Mobile Credit Card Payment App 

The QuickBooks GoPayment app is compatible with both Apple and Android phones and tablets. It contains essential point-of-sale functions, such as placing items or services for sale, making orders, receiving payments, and issuing receipts.

How Much Does Intuit QuickBooks Payments Services Cost? [Charges]

Intuit offers two price levels, with the company estimating that the average customer will transact at least $2,000 each month. The plan is best suited for lower-volume retailers since it charges 2.4 percent per transaction for swipes and 3.4 percent for keyed-in purchases, plus a 25-cent transaction fee and a 2.4 percent transaction fee. 

Monthly plans, which provide reduced per-transaction rates (2.4 percent swiped or 3.4 percent keyed in plus a 25 cent transaction charge) for $20 per month, can be more appropriate for higher-volume firms.

Intuit’s GoPayment service, designed for mobile sellers, uses a mobile credit card reader that connects to the headphone port of your smartphone or tablet. 

Customers who sign up for the service will get a free reader; extra readers are available for purchase for $10 apiece. GoPayment also offers a pay-as-you-go option as well as a monthly subscription plan. 

The first plan has no monthly price but charges a 2.4 percent transaction fee for swipes and dips, a 3.4 percent transaction fee for keyed-in transactions, and a 25-cent transaction fee. 

It costs $20 a month to use the service. In-person purchases incur a 1.6 percent charge, while keyed-in transactions incur a 3.2 percent price, plus a 25-cent transaction tax.

Is Intuit QuickBooks Payments Worth It?

• Invoicing and Reminders 

Although the absence of customizable invoices can disappoint certain businesses, this does not imply that the product is a complete failure. Many companies continue to find it to be a significant attraction. 

Another feature that they like is sending reminders to consumers regarding past-due bills, but be advised  that these emails are sent from Intuit, not from the user’s account. You will not experience this issue if you utilize the Gmail connection for QB invoicing.

• Long Deposit Times

Considering that the leading processors provide same-day or next-day processing speeds, Intuit’s turnaround time of two to three business days seems outdated. 

It’s not bad, but it’s not perfect either. As you may have guessed, Intuit isn’t exactly a cutting edge processor in the computing world. 

The Bottom Line

With QuickBooks Payments, you can save time and money if your retail business is already centered on QuickBooks for general accounting and other financial functions. 

If you are not already an Intuit client, this payment gateway is still a good option, but it can be a bit expensive for certain businesses. We hope this Intuit QuickBooks Payments Review has been helpful in your pursuit of finding reliable information about the service.