QuickBooks Merchant Services

Intuit is a worldwide renowned company that develops and then sells accounting, financial, bookkeeping, and last but definitely not the least, tax prep software and tools for assisting small to mid-sized business houses in their daily accounting operations. Among the numerous products and services that Intuit has introduced to the world over the years, QuickBooks Merchant Services is one such service that basically responsible for credit card payment processing for businesses.

Intuit has many products under its wing that range from accounting software to point of sales tools. It is among the world leaders in accounting solutions with gold standard software such as QuickBooks. QuickBooks, too, like its founding company, has diversified over the years with accounting and bookkeeping solutions for all types of consumers and systems. One of these services is the QuickBooks Merchant Services. It is renamed as QuickBooks Payments and is responsible for credit card payment processing services.

The QuickBooks Merchant Services, now known as QuickBooks Payments is a diverse and highly layered software. QuickBooks Merchant Services has four different elements. Each of these distinct elements has different rates of payment, excluding the custom rates present for merchant processing.

quckbooks marchant services

The trick is that if you do not incorporate the QuickBooks accounting solutions for managing your business activities, it is of not much use to use QuickBooks Merchant Services for your credit card payment processing operations. However, if you do use the QuickBooks range of tools, the integration between the QuickBooks accounting software and QuickBooks Merchant Services is kind of a really big deal. Features such as invoicing, e-commerce, and even ACH support are included for very reasonable prices. QuickBooks Merchant Services is a holistic service that is created for professional service providers and business houses. This service is better suited to those who have a bigger ticket size. Smaller merchants such as retail stores are not suited for this service considering the costs that will be incurred.

Products And Services From QuickBooks Merchant Services

quickbooks marchant services online

QuickBooks Online Payments

The name here is pretty obvious. This version of QuickBooks Merchant Services or QuickBooks Payments is focused on targeting customers who use all the features in the version are managed directly via the application. However, you do need to integrate the Merchant services with the QuickBooks Online accounting software to actually make it work in coordination. QuickBooks Online Merchant Services can be used to send invoices to accept transactions that are swiped, and even set arrangements for recurring payments. You can populate the sales invoice from the products catalog from your customers’ list. The processing rates available in the QuickBooks Payments Online are cheaper as compared to the other versions.

quickbooks marchant online service support

QuickBooks GoPayment

QuickBooks GoPayments was earlier simply known as Intuit GoPayments. However, recently it was integrated into the QuickBooks family and eventually renamed. The thing about QuickBooks GoPayments is that it automatically gets synchronized with the QuickBooks Online accounting software. This allows you to operate the payments departments through tablets and smartphones. Although there is a detailed item library in the application, you can simply enter a quick sale without selecting any particular products. The GoPayments version is much more suitable if your business model is more of a retail type.

quickbooks online marchant services

QuickBooks Desktop Payments

The software lacks the much more advanced cloud facilities that its smaller version possesses, but it does have a lot more accounting features included in it by Intuit in lieu of the cloud features. However, accepting mobile payments with QuickBooks Desktop is still an issue. You can send sales invoices and process receipts for sales. You can eventually populate these invoices and receipts from clients’ lists. ACH transfers are available for a cost of USD 1 for every transaction.

quickbooks marchant desktop services

QuickBooks Point Of Sale

QuickBooks Point of Sale is designed for the small-sized business houses such as mortar or brick retail stores and grocery stores. The best thing about the QuickBooks Merchant Services’ Point of Sale is that you can easily integrate it with any accounting software, however, QuickBooks range of accounting software can bring along numerous features that will not be available in other accounting and bookkeeping software. ACH transactions are not an option. A thing to keep in mind is that the Point of Sales Version of the QuickBooks Payments is a desktop-based tool so there are no ‘on the go’ options.

QuickBooks Online

QuickBooks online is highly efficient when it comes to online payments. It facilitates PayPal which is not available in the Desktop variant of the QuickBooks Payment. Other features include ACH transactions which are free of cost.

Basic Plan

Monthly cost: USD 0
Swiped credit card/debit card: 2.4 percent
Invoices, Apple Pay, PayPal: 2.9 percent
Keyed: 3.4 percent
Fee per transaction: USD 0.25
ACH Transactions: USD 0

Monthly Plan

Monthly cost: USD 20
Swiped credit card/debit card: 1.6 percent
Invoices, Apple Pay, PayPal: 2.8 percent
Keyed: 3.2 percent
Fee per transaction: USD 0.25
ACH Transaction: USD 0

QuickBooks Desktop

A very imperative thing to keep note of is that the desktop variant of the QuickBooks Merchant Services DOES NOT include support for PayPal. You would also want to notice that ACH transactions now cost USD 1 per transaction. The per transaction cost is higher too. The QuickBooks Desktop version is overall a cheaper software as there is only a one time purchase. In the case of the online version, there is a monthly subscription that needs to be renewed each and every month.

Basic Plan

Monthly cost: USD 0
Swiped credit card/debit card: 2.4 percent
Invoices and Apple Pay: 2.9 percent
Keyed: 3.4 percent
Fee per transaction: USD 0.30
ACH Transactions: USD 1

Monthly Plan

Monthly cost: USD 20
Swiped credit card/debit card: 1.6 percent
Invoices and Apple Pay: 3.5 percent
Keyed: 3.5 percent
Fee per transaction: USD 0.30
ACH Transaction: USD 1

QuickBooks Point Of Sale

QuickBooks’ Point of Sale is unique in a way that it can integrate with any processor, however, only QuickBooks Merchant Services allows provisions for syncing transactions in an automated manner and also does not require manually entering data. The key information here is that the pricing is different so you may have to put in a little more attention to every detail.

With the monthly plan, you will be eventually saving 0.4 percent per every transaction. However, you will also have to pay USD 0.25 for every transaction. In the long term, if you have a small ticket size, it might be smart to stick to the ‘pay as you go along’ plan. You need to understand that the USD0.25 is going to add up in the long term and take a piece of the total revenue.

Basic Plan

Monthly cost: USD 0
Swiped credit card/debit card: 2.7 percent
Keyed: 3.4 percent
Fee per transaction: USD 0
PIN Debit: 1 percent

Monthly Plan

Monthly cost: USD 19.95
Swiped credit card/debit card: 2.3 percent
Keyed: 3.2 percent
Fee per transaction: USD 0.25
PIN Debit: 1 percent

QuickBooks eCommerce

The QuickBooks Merchant Services eCommerce version is not very well mentioned on the internet. There is hardly any useful information available that can help in determining whether this version is actually helpful. This will help you understand the pricing schemes of the eCommerce version of QuickBooks Merchant Services or QuickBooks Payments.

Basic Plan

Monthly cost: USD 0
Swiped Qualified: 2.4 percent
Keyed Qualified: 3.5 percent
Fee per transaction: USD 0.30

Monthly Plan

Monthly cost: USD 20
Swiped credit card/debit card: 1.6 percent
Keyed qualified: 3.3 percent
Fee per transaction: USD 0.30

QuickBooks GoPayment

You may wish that the QuickBooks Merchant Services’ GoPayments’ prices would be similar to that of Point of Sales that has a ‘no transaction fee’ module. Here are schemes for the GoPayments version.

Basic Plan

Monthly cost: USD 0
Swiped/Tapped/Dipped transactions: 2.4 percent
Keyed transfers: 3.4 percent

Monthly Plan

Monthly cost: USD 20
Swiped/Tapped/Dipped transactions: 1.6 percent
Keyed transfers: 3.2 percent

Growing The Business via Using Credit Cards – But How?

At the end of the day, the primary goal of any business is to provide your customers with full customer satisfaction. This can only happen when the customers feel that they are being given the necessary services for this. Give your patrons the facility of making payments through a credit card as well as be confident about it. While all this is happening, you can rest assured that you will receive the due payments in time. But how exactly?

Understanding How Credit Card Processing Actually Works?

What Are Authorization Fees?

In the case of some transactions, the credit card holder will not be there in front of you. If you wish to get a discounted rate, you might need to verify the cardholder’s registered address. Your processor will charge you with the regular flat rates for every time you submit a request for an address verification. However, the verification fee may either be listed along with the rate or separately.

What Is a Card Association?

Credit card association is essentially the network of the issuing as well as the acquiring bank that processes the credit card upon transactions.

What Are Chargebacks?

Chargebacks are a tricky area. Within 60 days of the credit card statement, the user of the credit card can forward a dispute against any charge in that statement. This dispute is forwarded to the card issuing bank. Once the issuing bank takes up the request, you will be notified about the chargeback via a retrieval request. You need to respond immediately to this request or you might have to pay additional charges or may lose the charge altogether. You will have pay about USD 10 to USD 50. Once the chargeback is complete, you might lose the interchange fee from the actual transaction and the sale as well.

What Do You Mean By Downgrades?

In case one or more of the qualifying requirements have not been met and thus consequentially the risk exposure increases as well. As a result, you will have to downgrade. The idea is that higher the risk you face, the more you will have to pay the merchant service or other similar service providers in order to process credit card transactions. A huge portion of the cost of accepting the credit cards is derived from the transactions that do not qualify for the discount as they don’t meet the specific requirements that are set by card companies. The most usual reasons for a downgrade are,

What Are Interchange Fees?

Major card companies charge an interchange expense for the purpose of processing every individual transaction. You will have to pay for different types of fees depending on how transactions are sent and what form of merchant account you possess. The interchange essentially covers the cost of gathering funds to the merchant bank and of gathering the billing information to the issuing bank. The interchange fee is basically a specific percentage of the total transaction along with a flat fee in addition.

Who Is The Issuing Bank?

The issuing bank is basically the institution that extends the line of credit to consumers and provides you with the payment card.

Who Is The Merchant Bank?

The merchant bank is nothing but the financial institution that offers you a merchant account. It also facilitates the handling of all your credit card payments from customers along with the credit card processing operations.

Who Is The Merchant Service Provider?

The merchant service provider basically ensures that your merchant account is set up in order to facilitate credit card transactions on both the front as well as the back end. These merchant accounts also act as intermediaries for your communication network with credit card companies, credit card processors, and the bank. QuickBooks Merchant Services, now known as QuickBooks Payments is a good example of a merchant service provider.

What Is The Mid Qualified Rate?

When you accept and process a credit card transaction that does not qualify for any of the lower rates. This might happen when you manually input a card into a terminal and not traditionally swiping it. You may also pay this charge when

What Are Non-Qualified Rates?

You will have to pay a non-qualifies expense at the time you accept as well as process a credit card that does not qualify for any of the lower rates. This may happen when you manually input a credit card, and not swipe it. You might also incur this situation in case,

What Are Payment Gateways?

The payment gateway is responsible for transmitting payment data from your end to the credit card companies and card processing facilities. Payment gateways are also responsible for supporting most of the point of sale mechanisms, banks, merchants, and processors.

Who Are Processors?

There are basically two forms of processors, that is, front-end processors and back-end processors. The front end processor is responsible for handling up front activities like card authorizations, network authorizations, and maintaining connectivity to credit card companies. On the other hand, the back end processor is responsible for receiving and forwarding settlements to the issuing banks on a scheduled basis.

What Is The Qualified Rate?

The qualified rate is essentially the lowest rate that you will receive. It is basically the percentage of the total charge that is charged whenever you process a credit card transaction via an approved transaction processing solution.

What Are Rates?

Rates, are basically charges, that you pay in order to cover transaction processing as well as depositing funds into your account. You will usually end up paying a combined rate based on a part of the sale along with flat fee transactions. This rate may be the culmination of the charges of your merchant services provider, your processor, the issuing bank, and the credit card companies. Your interchange charge is fixed, however, you can try and negotiate for a lower processing and communication fees to reduce the overall rate.

The rate that you will pay will be different depending on the transaction that is being processed. Swiping the credit card in person will grant you the lowest rates. You can also contain your cost by processing transactions qualified rates whenever possible.

Customer Service/Technical Support

Customer support is an essential part of any organization that deals in exchange for goods and services for money. QuickBooks is not different when it comes to this. QuickBooks Merchant Services is renowned worldwide for its expertise in credit card processing services. To say the least, Intuit’s QuickBooks Merchant Services’ technical support is extremely streamlined. The technical support team at QuickBooks Payments (Merchant Services) is approachable at all times of the day via the technical support phone number.

QuickBooks Merchant Services’ customer support phone number is a direct access to the company’s expert professionals who are specifically trained for the purpose of handling customer queries related to QuickBooks Payments.

The best thing about the customer support at QuickBooks is that it is interactive. It may seem like a sales tactic at first, but it is not. The questioning is for understanding the nature of the issue and how it can be tackled in the best fashion. The support number is available for access 24 hours a day and from anywhere in the world. The primary aim is to focus on providing the best possible solution for the customers and assist them in resolving the issues that they are facing. Customer satisfaction is at the top of the priority list and in doing so, it is made mandatory that there is no delay in the process whatsoever. The customer should not be waiting on the phone for getting their issues resolved, instead, they should be assisted as quickly as possible. That is exactly what QuickBooks Merchant Services’ technical support team tends to do.

The technical support team works in the following ways –

Assistance Over The Phone

The technical team can be accessed via the technical support phone number. The team of experts assists the customer in the best possible way by assessing the core premise of the error and then finding the simplest and the most effective solution that there is for that particular issue. The goal, as per protocol, is to provide the most effective solution to the problem.

Remote Access

Probably one of the most effective and preferable solution methods there ever existed, that is, remote access. The technical support team uses remote access to enter into the system of the customer and fix the issue first hand. The trust issue factor can be well understood, given the number of cyber-crimes that are on the rise. But QuickBooks’ technical team is one of the best and most trustworthy there is. The solution is quick and effective.

Support via Email

The technical support team at QuickBooks Merchant Services is also available through emails. If you prefer using traditional emailing instead of remote access or phone calls, QuickBooks has you covered.

Support Over Chat

QuickBooks offers technical support services via chat. An expert will be available via chat to assist customers in any way possible with the issue related to the QuickBooks Merchant Services.

Software Verdict

When it comes to testimonials about the QuickBooks Merchant Services, testimonials play an important role. They help to make an impression among potential customers. Not only that, but they also allow room for improvement, that is, when they are taken into consideration in the form of feedback. Most of the reviews and feedback about QuickBooks Merchant Services or QuickBooks Payments are positive. But the most important thing is what you can infer from these reviews. The two things that can be in fact inferred are –

quickbooks software phone number