QuickBooks Payments Review 2022: Cost, Features, Alternatives

QuickBooks Payments integrates with QuickBooks Online to help small businesses accept invoice payments and mobile transactions.
Jan 11, 2022

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4.5

NerdWallet rating 

QuickBooks Payments is a sensible payment processing solution for small businesses that already use QuickBooks for accounting, need to accept invoice payments and don't require other third-party payment integrations. 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

  • 2.4% plus 25 cents per swiped transaction.

  • 2.9% plus 25 cents per invoiced transaction.

  • 3.4% plus 25 cents per keyed transaction.

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.

Payout timing

Next-day is standard. Eligible payments can be moved into a client’s account instantly for an extra 1% fee.

Customer support

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

How does QuickBooks Payments work?

For QuickBooks Online

Quickbooks Online

QuickBooks
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on QuickBooks's website

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 Desktop Premier

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.

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 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 mobile card reader

QuickBooks offers its own card reader that 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.

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

  • 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% plus 25 cents per swiped or dipped transaction.

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

  • 3.2% plus 25 cents per keyed-in transaction.

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.

  • $49 for QuickBooks card reader.

  • $79 for QuickBooks card reader plus power stand for charging.

Quickbooks Online

QuickBooks
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on QuickBooks's website

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.

Drawbacks

Limited customer support hours

While it’s not the most pivotal factor to consider when browsing payment processors, remember that 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

Stripe

Stripe
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on Stripe's website

Payment processing cost:

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

  • In-person payments: 2.7% plus 5 cents per transaction.

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

  • Invoices: 25 free invoices per month and 0.4% per invoice after that.

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

Helcim

Helcim
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on Helcim's website

Payment processing cost:

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

  • In-person payments: Interchange plus 0.3% and 8 cents per transaction for businesses with $25,000 or less in monthly card transactions.

If you’re looking for an interchange-plus pricing model, consider Helcim. It has no monthly fees, setup fees or cancellation fees and is incredibly transparent about how it breaks down processing costs and margins. And since it offers volume discounts, it could be even more affordable for larger businesses that do at least $25,000 in sales monthly.

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