Intuit Payment Network (ipn.intuit.com) is a payment and money transfer service created by Intuit Inc., the maker of the popular small business accounting software, Quickbooks. The service is similar to those of PayPal and Dwolla and allows for bank-to-bank money transfers and payments as well as credit card payments. Intuit Payment Network has no setup fees, monthly fees or cancellation fees. Receivers of bank-to-bank payments pay only a flat fee of 50 cents per transaction (sending money is free), and accepting credit card payments costs 3.25% of the transaction amount.
Unlike some of its competitors, Intuit does not require customers to have an Intuit Payment Account. Instead, the service allows them to pay via a “guest account,” making for a smoother payment process. Intuit states that bank account information (such as account numbers) is never shared between buyers and sellers.
Intuit Payment Network Products and Services
- Debit and credit card processing
- ACH processing
- QuickBooks integration
- “Pay Now” buttons
- Email invoicing
- Custom payment links
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Intuit Payment Network appears to primarily market itself through its website and through Intuit’s existing client base, particularly as a complementary service to QuickBooks. There is no indication that the company uses misleading rate quotes on its website or employs independent sales agents to sell its services, and the company is showing zero complaints to that effect.
One issue for merchants appears to be the company’s processing limits and risk prevention policy. Most complaints about IPN mention unexpected fund holds placed on transactions and difficulty getting these funds released. Although Intuit Payment Network discloses the fact that it enforces transaction limits on its “Fees” page and notifies merchants of approaching limits within their profiles, it seems that the service could stand to do a slightly better job of informing merchants of Intuit’s risk policy before they start to process payments.
Intuit Payment Network Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Credit Card Rate||3.25%|
|Early Termination Fee||None|
|PCI Compliance Fee||None|
|Equipment Lease Terms||None|
As noted above, Intuit Payment Network charges $0.50 per ACH transfer received and 3.25% per credit card payment received. There are no setup fees, monthly fees, or early termination fees associated with the service, and there are no penalties for exceeding a processing limit. Overall, these rates are very competitive with the company’s competitors, especially considering that Intuit does not require customers to create specific Intuit Payment Network accounts to use the service. Intuit’s transaction limits are variable but can be raised within 3-5 business days via a request through the user’s profile. The few complaints we have found about Intuit’s transaction limits are related to transactions of thousands or tens of thousands of dollars, so merchants should expect to encounter some difficulties if they process very large amounts without contacting Intuit beforehand.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||Fund Holds|
Intuit Payment Network is currently showing more than ten complaints on this and other consumer protection websites, and all of these complaints express issues with fund holds enforced by Intuit. In some of these cases, merchants were aware of transaction limits enforced by the company but still attempted to process payments anyway; in other cases, merchants were unaware that their funds might be held before attempting to accept payments. Although fund holds of large amounts are surely distressing for merchants, it seems that Intuit Payment Network provides a fair amount of notice in a user’s profile before a processing limit is reached. In addition, the company immediately notifies merchants when they hit a processing limit, allowing merchants to react and plan for likely holds. Merchants who have had their funds held typically report transactions in the thousands of dollars, which indicates that very large amounts may not clear on the first attempt by the user. Overall, given the company’s size and complaint volume, Intuit performs well in this category.
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Intuit Payment Network does not have a dedicated Better Business Bureau profile and Intuit’s main profile encompasses numerous other products, so we will not include it for the purposes of this review.
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About Phillip Parker
Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry. Schedule a Consultation with PhillipSchedule a Consultation with Phillip
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