Overview
QuickBooks Payments (quickbooks.intuit.com/payments/), formerly known as “QuickBooks Merchant Services” or “QBMS,” is a credit card processing option included with the QuickBooks accounting software by Intuit. The backend card processing services for QuickBooks Payments are handled by Intuit Merchant Services. We have decided to review QuickBooks Payments separately because the terms and conditions of a QuickBooks Payments account are different than those offered through Intuit’s traditional merchant accounts. Intuit also appears to be gradually folding its GoPayment mobile processing solution into QuickBooks Payments under the name “QuickBooks GoPayment,” so merchants should be sure to clarify which product they are signing up for. QuickBooks Payments allows merchants to process credit cards via their QuickBooks accounting software, which also includes automatic bookkeeping of the transactions. Brad Smith is the CEO of Intuit, which is headquartered at 2632 Marine Way, Mountain View, California 94043.
Top All-Purpose Merchant Account Providers
QuickBooks Payments Bottom Line
QuickBooks Payments is a very popular credit card processing service among merchants who use the QuickBooks accounting software. Overall, the costs and fees of the service are about average for the industry; however, QuickBooks Payments has no cancellation fee, which makes it an attractive option for many merchants. The service itself has relatively few complaints, but merchants are encouraged to read and understand the terms and conditions before signing up, and to take basic QuickBooks training via a course or self-study. It appears that merchants who properly educate themselves are unlikely to experience problems.
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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 Phillip
Schedule a Consultation with Phillip
It seemed like a good idea at the time, but after 25 days using the service, I am going back to my prior processor. The problem is that they are “withholding” a client payment that one of my clients legitimately paid online, and that my client’s credit card approved. For some reason, Intuit Payments decided there was some problem, and required me to send them information about the transaction as if I was a criminal. They say they will actually speak to my client on the telephone before releasing the funds. Ridiculous! Who needs this aggravation. I am going back to my old processor ASAP, and will be reporting them to the SEC if they don’t release my money in the next business day. Business is tough enough these days without having your credit card processor hassle you! Sheesh! Stay away!
I have been using quickbooks 2013 and their credit card processing with no problems, however after their forced upgrade to the 2016 version which they were obviously not prepared to support,, credit card processing is not even possible. Amazingly intuit payment services computers could not even communicate with my company email. My personal email account for payment services is now having to be used and as of yet i have not been able to establish a password to even process credit cards. I wish i had never started years ago with quickbooks – even my cpa cannot believe how badly the company’s credit card services have become. My advise, Quickbooks 2016 may be ok, but stay away from the merchant services processing – it is a total nightmare.
I am extremely frustrated. Our deposits have been held for 8 days. It took me 3 days to actually get through to a customer representative. I was on hold one day with 2 different calls for over an hour, a second day over an hour, the third day someone finally picked up after more than an hour on hold. When I finally did talk to a representative, I felt like a criminal. All they could tell me was that the deposit was over our limit. I set the limit much higher when I applied and did not know they set the level lower.
I had to provide 6 months worth of bank statements and a sampling of customer invoices. They informed they would get back to me in 48 business hours and the funds would be released in about 3 days after that if everything was OK. It is now 3 business days after I sent the information requested and I have not heard from them. I am now on hold again for 50 minutes and counting. We are a small business and it is a hardship to have these funds held. I will probably move to another merchant once this mess is cleared up!!!
The sad part is, I don’t even know where to go to get help!
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Intuit has lost all our respect as a small business. Their Quickbooks Online Payments system has held funds for almost 2 months past when our customer has received goods and per our invoice. We keep getting the run around and excuses. I don’t recommend this system to anyone who runs or owns a small business. Our previous merchant services always released funds within 48 hours, regardless of the amount or transaction details.
Beware there security is not good and there support is awful.
DO NOT use quickbooks merchant services! I have a small pediatric therapy business. I allow my clients to pay their invoices online. Recently, Intuit did a software update and due to a glitch the account number where they send my deposits was changed to a strangers account. Someone not associated with my business was receiving money from my clients. This good Samaritan was the person who caught this. I spent an hour and a half on the phone with merchant services the first time I called. They said they would resolve it. Three days later, I called because I had not heard anything. They had no information on my case other than that I called. I was furious. After 2.5 hours and speaking with supervisors, they promised to have my money in about 4 days. They claimed they had to do an investigation and asked me to provide them with the contact information of the good Samaritan that called me. UNBELIEVABLE!! To me this is unacceptable. It has been four days and still no money. It is beyond me how a tech company can be so sloppy. I have employees to pay, tax payments coming up and none of it matters. What is most infuriating is that it was their mistake in the first place. They are blaming the banks for the hold up, but I don’t believe that for a second. Companies credit and debit bank accounts all the time. We are talking thousands of dollars here. Once I get my money, I will be dropping all of my intuit services.
Not only are their fees and rates ridiculously higher than other processors, they cannot tell you how to remove the option once you have it installed if you decide to cancel.