QuickBooks Payments Review 2024: Cost, Pros, Cons
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4.5
NerdWallet ratingQuickBooks Payments is a sensible payment processing solution for small businesses that already use QuickBooks for accounting. It's an especially strong choice for businesses that provide services to other businesses, then bill them through QuickBooks Online. However, customer service isn't 24/7 and the QuickBooks point-of-sale system it works with has limited hardware options.
Deciding factors
Processing rates | For QuickBooks Online users
For QuickBooks Desktop users Pay as you go plan (no monthly fee):
Pay monthly plan ($20 monthly fee):
|
Monthly fee | $0. |
Hardware cost |
|
Accepted payment methods | Credit card, debit card, invoice, ACH, e-check and digital wallet payments. |
Compatibility | Clients who use QuickBooks Payments must have a QuickBooks Online account. |
Contract length | None. |
Customer service | Chat and phone support Monday through Friday, 6 a.m. to 6 p.m. PT. |
How does QuickBooks Payments work?
For QuickBooks Online
To start accepting payments, open up "Account and Settings" in QuickBooks Online and click "Payments" on the left-hand menu. Select "Learn more," fill out the information about your business and yourself, then connect your bank account.
For QuickBooks Desktop
QuickBooks offers a separate payments solution for Desktop clients with slightly different processing rates. Like payments for QuickBooks Online users, this solution also lets businesses instantly make invoice payments, includes next-day deposits for eligible payments and syncs with the company’s desktop accounting software.
QuickBooks Desktop Premier |
The platform features:
Invoicing
The service gives businesses the option to include a "pay now" button on their invoices so their clients don’t have to visit a separate page to put in their bank or credit card information. From there, the customer’s money will be deposited into the business's account the next day, and the business will be notified as soon as clients view the invoice or pay it. Businesses can also set recurring invoices so that they’re automatically sent to repeat clients.
GoPayment app
QuickBooks’ in-house mobile POS app uses QuickBooks Payments to process in-person and keyed transactions on the go. The app, available for iOS and Android devices, is free, though you’ll still need to pay QuickBooks credit card processing fees. Payment processing aside, the app syncs transactions with your QuickBooks account, calculates and applies sales tax, sends receipts by text or email and lets you add and manage sales items.
QuickBooks card reader
The QuickBooks card reader accepts dipped and tapped card payments, along with digital wallet payments like Google Pay and Apple Pay. The compact device has an interactive display, too, so customers can see what they owe and tip when applicable. The reader is compatible with iPhones and Androids.
QuickBooks Payments pricing
Rates 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 that charge more than $7,500 per month, and 30-day free trials are also available. There is a $25 chargeback fee and PCI compliance service costs $9.95 per month.
QuickBooks Online and QuickBooks GoPayment
No monthly fee.
2.4% plus 25 cents per swiped, dipped, tapped and contactless transaction.
3.4% plus 25 cents per keyed-in transaction.
2.9% plus 25 cents per invoiced transaction.
1% per ACH bank transfer (max $10 per transaction).
QuickBooks Desktop
Pay as you go
No monthly fee.
2.4% plus 30 cents per swiped transaction.
3.5% plus 30 cents per keyed-in transaction.
3.5% plus 30 cents per invoiced transaction.
$3 per ACH bank transfer.
Pay monthly
$20 per month.
1.6% plus 30 cents per swiped transaction.
3.3% plus 30 cents per keyed-in transaction.
3.3% plus 30 cents per invoiced transaction.
$3 per ACH bank transfer.
QuickBooks POS
Pay as you go
No monthly fee.
2.7% per swiped or dipped transaction.
1% per swiped or dipped transaction with PIN.
3.5% per keyed-in transaction.
Pay monthly
$20 per month.
2.3% per swiped or dipped transaction.
1% per swiped or dipped transaction with PIN.
3.2% per keyed-in transaction.
QuickBooks Payments benefits
Convenient mobile app
One of the GoPayment app’s greatest strengths is its simplicity. Businesses can log into the free mobile POS app using their QuickBooks accounting information, and they don’t need a card reader to start processing keyed-in transactions on the go. For businesses that only need a mobile POS solution occasionally, the app plus card reader is a low-commitment, 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 up with each other and minimize manual data entry. If you use QuickBooks for accounting and like the idea of sticking with a single brand for all of your software needs, the company’s in-house payments solution is a good match.
QuickBooks Payments drawbacks
Limited customer support hours
QuickBooks Payments doesn’t offer support for businesses accepting transactions outside of normal working hours. There is no live customer service available on weekends or past 6 p.m. PT, a drawback for businesses with unconventional hours.
Limited hardware options on QuickBooks POS
QuickBooks’ in-house POS system, which integrates with Payments, has basic hardware like cash drawers, barcode scanners, receipt printers, PIN pads and tablet stands. These options are sufficient for some small retail businesses, but not those with more complicated requirements. For example, QuickBooks doesn’t offer an in-house kitchen display system or separate customer-facing display screen, a potential deal-breaker for cafes and restaurants.
QuickBooks Payments alternatives
Stripe
Payment processing cost:
2.7% plus 5 cents for in-person transactions.
2.9% plus 30 cents for online transactions.
3.4% plus 30 cents for manually keyed transactions.
4.4% plus 30 cents for international card transactions.
Why we like it: Businesses that send a lot of invoices and operate mainly online may also want to consider Stripe, especially if they work with international clients. The company accepts payments in more than 135 currencies and offers 24/7 phone, email and chat support. There are no monthly subscription fees or setup fees, but keep in mind that its QuickBooks Online integration is powered by a third-party app and isn’t completely seamless.
Helcim
Payment processing cost:
Interchange plus 0.4% and 8 cents per in-person transaction (if $50,000 or less in monthly card transactions).
Interchange plus 0.5% and 25 cents per online or manually keyed transaction (if $50,000 or less in monthly card transactions).
0.5% plus 25 cents for ACH payments (capped at $6).
Why we like it: If you’re looking for an interchange-plus pricing model, consider Helcim. It has no monthly fees, setup fees or cancellation fees and is transparent about how it breaks down processing costs and margins. It offers volume discounts, so it could be even more affordable for larger businesses that do at least $50,000 in sales monthly.
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