QuickBooks Payments Overview
Alternately known as “Intuit Merchant Services” or “QuickBooks Merchant Services,” QuickBooks Payments is a credit card processing service offered through Intuit’s QuickBooks business accounting software. QuickBooks Payments is only the latest iteration of a product that has evolved in an unpredictable and often confusing fashion since its inception in 2003. In its original form, it was known as “Innovative Merchant Solutions” following Intuit’s acquisition of a merchant account provider by the same name. Over the following years, Intuit gradually phased out the Innovative brand and began calling itself Intuit Merchant Services. The company also expanded its products to include a Square competitor called GoPayment and a peer-to-peer payment service called Intuit Payment Network. At some point, Intuit also launched a credit card processing module within QuickBooks, dubbed QuickBooks Merchant Services, which was separate from Intuit Merchant Services. Most recently, perhaps in an effort to simplify its offerings, Intuit has begun to group all of its payment processing services—including merchant accounts, mobile payments, and tablet POS payment processing—under the QuickBooks Payments name.
QuickBooks Payments offers credit card and ACH processing, electronic invoicing, a free EMV-compliant mobile credit card reader upon signup, instant QuickBooks syncing, web store integration, and an iPad POS system. The company’s basic payment processing service comes with no long-term contracts or early termination fees, but terms may vary for its iPad POS system or e-commerce services. Intuit offers variable pricing that depends on whether a merchant is an existing QuickBooks customer or not. Intuit offers phone support to all of its merchants. Intuit QuickBooks Payments is a credit card processing option for QuickBooks accounts, and is different from Intuit’s traditional merchant accounts.
QuickBooks Payments allows merchants to process credit cards via their QuickBooks accounting software. They offer a mobile app, card reader, and recurring invoices.
The company does not hire independent sales agents and has received more than 20 public complaints regarding its services.
Merchants who accept a free copy of the QuickBooks accounting software may be subject to a software recovery fee if they cancel the QuickBooks credit card processing option within 24 months of opening the account.
QuickBooks Online offers a pay-as-you-go plan or a monthly fee plan for merchants. The monthly fee plan charges a $25 or $40 per month.
The QuickBooks Desktop app charges a monthly fee that is either 2.40% plus $0.30 per swipe transaction or 3.30% plus $0.30 for keyed-in card transactions and invoices.
Merchants may also be required to pay a PCI Compliance fee, based on the number of transactions per year.
Intuit prices its products to have different fees, which can be extremely confusing for merchants. But, the company’s products are relatively simple due to using fixed per-transaction rates.
There are 20 negative reviews about the QuickBooks Payments service, but none accuse it of being a scam operation.
We have not found any outstanding class-action lawsuits or FTC complaints against QuickBooks Payments, but Intuit Inc. has faced several lawsuits and received a number of fines for wage and hour violations and consumer protection violations.
QuickBooks Payments offers a number of support options, though it is not considered a top-rated payment processor for customer service.
QuickBooks Payments does not have a dedicated Better Business Bureau report. Intuit’s main BBB report has an A+ rating.
If you suspect that a third party organization has added undisclosed charges to your account, we recommend seeking a third party audit.
QuickBooks Payments does not have any complaints that mention nondisclosure of fees or deceptive rate quoting and has consolidated its products in recent years.
QuickBooks Payments is a very popular credit card processing service for merchants who use the QuickBooks accounting software. It has relatively few complaints, but the terms and conditions should be read before signing up.
At a glance
Founded: 2003
Location: Mountain View, California
Acquiring bank: JPMorgan Chase
Website: payments.intuit.com
Phone number: 1-800-446-8848
E-mail: Contact form here
QuickBooks Payments Promotional Video
Online reputation and reviews
Due to its various name changes and aliases over the years, it’s difficult to pin down merchant opinion of QuickBooks Payments. Intuit’s conventional merchant services have received very harsh complaints that describe long-term contracts, high cancellation penalties, poor customer service, withheld funds, and deceptive price quoting. However, the company’s mobile and computer-based options like GoPayment and QuickBooks Merchant Services are regarded with slightly less vitriol due to their low-commitment contracts and simpler pricing. Generally speaking, Intuit seems to have gradually improved the quality of its payment processing services over the years, but some holdover issues from its earlier days may persist in QuickBooks Payments.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to QuickBooks Payments at this time.
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