QuickBooks Payments Review 2022: Cost, Features, Alternatives

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    QuickBooks Payments is a viable payment processing solution for small businesses that already use QuickBooks for accounting, need to accept bill payments, and don’t need any further third-party payment integrations. It’s a particularly good choice for businesses that provide services to other businesses and then bill them through QuickBooks Online. However, customer service isn’t available 24/7, and the QuickBooks point-of-sale system it works with has limited hardware options.

    • 2.4% plus 25 cents per stolen transaction.

    • 2.9% plus 25 cents per billed transaction.

    • 3.4% plus 25 cents per encrypted transaction.

    Credit card, debit card, invoice, ACH, e-check and digital wallet payments.

    Customers using QuickBooks payments must have a QuickBooks online account.

    The next day is standard. Eligible payments can be instantly transferred to a customer account for an additional 1% fee.

    Chat and phone support Monday through Friday, 6:00 a.m. to 6:00 p.m. PT.

    How does QuickBooks Payments work?

    For QuickBooks Online

    To start accepting payments, open Account and Settings in QuickBooks Online and click on «Payments» in the left menu. Select «More Info», enter the information about your company and yourself, and then link your bank account.

    For QuickBooks desktop

    QuickBooks offers a separate payment solution for desktop customers with slightly different processing rates. Like payments for QuickBooks Online users, this solution also enables businesses to pay businesses instant bills, includes next-day deposits for eligible payments, and syncs with the company’s desktop accounting software.

    billing

    The service gives businesses the ability to include a «Pay Now» button on their invoices so their customers don’t have to visit a separate page to enter their bank or credit card information. From there, the customer’s money is deposited into the company’s account the next day, and the company is notified once customers see or pay the bill. Businesses can also set up recurring invoices to be automatically sent to returning customers.

    GoPayment app

    QuickBooks’ internal mobile POS app uses QuickBooks Payments to process in-person and encrypted transactions on the go. The app, available for iOS and Android devices, is free but processing fees still apply. Aside from processing payments, the app syncs transactions with your QuickBooks account, calculates and applies sales tax, sends receipts via SMS or email, and lets you add and manage sale items.

    Mobile QuickBooks card reader

    QuickBooks offers its own card reader that accepts typed and typed card payments, along with digital wallet payments like Google Pay and Apple Pay. The compact device also features an interactive display so customers can see what they owe and tip if necessary. The reader is compatible with iPhones and Androids.

    Prices and fees vary depending on whether you accept payments through QuickBooks Online, QuickBooks desktop, QuickBooks POS or the GoPayment app. Promotions may be available for businesses charging more than $7,500 per month, and 30-day free trials are also available. There is a $25 chargeback fee and PCI compliance service is $9.95 per month.

    QuickBooks Online

    • 2.4% plus 25 cents per stolen, dipped, tapped and contactless transaction.

    • 3.4% plus 25 cents per entered transaction.

    • 2.9% plus 25 cents per billed transaction.

    • 1% per ACH bank transfer (maximum $10 per transaction).

    QuickBooks desktop

    • 2.4% plus 30 cents per transaction stolen.

    • 3.5% plus 30 cents per entered transaction.

    • 3.5% plus 30 cents per billed transaction.

    • $3 per ACH bank transfer.

    • 1.6% plus 30 cents per stolen transaction.

    • 3.3% plus 30 cents per entered transaction.

    • 3.3% plus 30 cents per billed transaction.

    • $3 per ACH bank transfer.

    QuickBooks POS

    • 2.7% per swiped or dipped transaction.

    • 1% per PIN stolen or dipped transaction.

    • 3.5% per entered transaction.

    • 2.3% plus 25 cents per swiped or dipped transaction.

    • 1% plus 25 cents per PIN stolen or dipped transaction.

    • 3.2% plus 25 cents per entered transaction.

    QuickBooks GoPayment

    • 2.4% plus 25 cents per stolen, dipped, tapped and contactless transaction.

    • 3.4% plus 25 cents per entered transaction.

    • $49 for the QuickBooks card reader.

    • $79 for QuickBooks card reader plus charging stand.

    Convenient mobile app

    One of the greatest strengths of the GoPayment app is its simplicity. Businesses can log into the free mobile POS app with their QuickBooks accounting information and don’t need a card reader to process entered transactions on the go. For businesses that only need an occasional mobile checkout solution, the app plus card reader is a low-binding and affordable option.

    Seamless QuickBooks accounting integration

    QuickBooks has built its own ecosystem of small business software products — including accounting, payroll, time tracking, POS systems, and payment processing — that sync with each other and minimize manual data entry. If you use QuickBooks for accounting and like the idea of ​​staying with a single brand for all your software needs, the company’s in-house payment solution is a great choice.

    Limited customer support hours

    While this isn’t the most important factor when browsing payment processors, remember that QuickBooks Payments doesn’t offer support for companies that accept transactions outside of normal business hours. Live customer service is not available on weekends or after 6:00 p.m. PT, a disadvantage for businesses with unconventional hours of operation.

    Limited hardware options for QuickBooks POS

    QuickBooks internal POS system integrated with Payments has basic hardware such as cash drawers, barcode scanners, receipt printers, PIN pads and tablet stands. These options are sufficient for some small retail businesses, but not for those with more complicated needs. For example, QuickBooks doesn’t offer an internal kitchen display system or a separate customer-facing screen, a potential dealbreaker for cafes and restaurants.

    QuickBooks Payment Alternatives

    Stripes

    • Online payments: 2.9% plus 30 cents per transaction (plus 1% for international cards, plus an additional 1% if currency conversion is required).

    • Personal Payments: 2.7% plus 5 cents per transaction.

    • ACH transfers: 0.8% per transfer (max $5).

    • Bills: 25 free bills per month and 0.4% per bill thereafter.

    Businesses that send a lot of invoices and work mostly online should also consider this Stripes, especially when working with international clients. The company accepts payments in more than 135 currencies and offers 24/7 support via phone, email and chat. There are no monthly subscription fees or setup fees, but keep in mind that the QuickBooks Online integration is powered by a third-party app and isn’t completely seamless.

    Helcim

    • Online and key payments: Interchange plus 0.5% and 25 cents per transaction for businesses with monthly card transactions of $25,000 or less.

    • Personal Payments: Interchange plus 0.3% and 8 cents per transaction for businesses with monthly card transactions of $25,000 or less.

    If you’re looking for an Interchange Plus pricing model, consider it Helcim. It has no monthly fees, setup fees, or cancellation fees, and is incredibly transparent about the breakdown of processing costs and margins. And since it offers volume discounts, it could be even more affordable for larger businesses with at least $25,000 in monthly revenue.

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