Whether your business is brand-new or established, small, medium or large — it takes a lot of organization and support to achieve or maintain profitability.

Thankfully, it’s not a fight you have to go alone. Intuit Merchant Services offers a ton of tools to help, including accounting software, payment processing, payroll management and specialized support, to aid in getting your business across the finish line.

What is Intuit Merchant Services?

QuickBooks Merchant Services is the division of Intuit that delivers payment processing and business support services to business owners around the world. Regardless of your industry, using QuickBooks to accept payments is not only less expensive than many comparable service providers, but the program also streamlines back-end reporting and tracking to drive better business decisions.

QuickBooks Desktop Pro

The Desktop Pro version of QuickBooks offers a full suite of products and services that pair with payment processing. Processing rates for merchant services are slightly different for desktop users, which may offer savings. If you choose the free plan, swiped transactions are as low as 2.4% plus $0.30. With the $20 monthly plan, those rates drop to 1.6% plus $0.30.

QuickBooks Online

The more versatile option with QuickBooks Merchant Services is the online platform that allows multiple members of your team to access tracking and services from around the world. Credit card swipe rates with this plan are 2.4% plus $0.25 and only go up to 2.9% plus $0.25 for invoiced payments.

Credit card payments

Intuit Merchant Services allows business owners to collect payments via credit card both online or in brick-and-mortar locations. Additionally, you can invoice clients and customers with a convenient option to pay online. Exact rates vary slightly by the version of QuickBooks you have and the credit card payment medium. Business owners can get a free mobile card reader for seamless brick-and-mortar transactions that update your accounting software in real-time.

Cash payments

QuickBooks Merchant services allow you to take cash payments that automatically log into your accounting software. You can even create receipts for customers in real-time through the mobile app for easy integration. You’ll still need to deposit the cash later to keep your books in order.

Digital payments

The program integrates with many of the major e-commerce platforms like BigCommerce and Shopify to handle digital payments. Additionally, the software and platform integrate with many of the most popular digital wallets like PayPal and Square for the ultimate in flexible convenience. The company also offers a full developer’s suite of resources and documentation if you’re interested in building out a customized payment solution.

Paper check payments

While most providers are getting away from paper checks, you still have the flexibility to accept checks with QuickBooks Merchant Services. You can input the check information through the app and then scan the check into your records.

ACH payments

Sometimes known as eChecks, Intuit Merchant services allow users to process direct online payments from customers and clients. The processing fee for these payments is 1%, with a maximum charge of $10.

Why should you use Intuit Merchant Services for accepting credit card payments?

For many businesses, credit card payments are the lifeblood of your transactions. Choosing the right service provider means looking for reliability, flexibility and affordability.

Conveniently, Intuit Merchant Services delivers all three. The company’s credit card processing seamlessly integrates with many major online merchants like BigCommerce and Shopify. Additionally, you can get a free mobile card reader to accept payments in brick and mortar spots.

All of this is available with low processing costs and direct integration with QuickBooks if you’re using the company to track your business accounting.

Intuit Merchant Services fees

QuickBooks Essentials with Payments will run you $25 per month (and as of September 2020, you can get the first three months at half price). The upgraded QuickBooks Plus with Payments costs $70 a month (but only $35 for the first three months) and comes with a lot of additional time, profitability and inventory tracking systems. You can also purchase the Desktop Pro version for a one-time payment of $299.95.

If you have an older version of QuickBooks (at least 2018), you can get started with QuickBooks payments via the desktop version for $0 or $20 per month, depending on the plan you choose. The $20 a month plan lowers many of the transaction costs.

All plans come with no setup fees.

Pros of Intuit Merchant Services

  • Seamless integration with QuickBooks desktop and online accounting software
  • Collect payments of all types, including cash, credit card, debit card invoice, paper check and ACH
  • Payment processing charges are lower than many comparable service providers
  • Extensive integration options with major digital wallets and e-commerce platforms
  • Free 30-day trial to see how the services work for your business

Cons of Intuit Merchant Services

  • May require extensive setup for existing businesses to crossover if you’re using a different platform
  • Learning curve for people who are new to the QuickBooks platform

Comparing Intuit Merchant Services to others

Another well-known software option for online merchant services is PayPal. Similar to Intuit, the company lets you take the most popular payment types and also provides you with a card reader, though it will run you $24.99 per month. When it comes to the cost of processing credit card and ACH transactions, Intuit Merchant Services wins in all four categories.

  • ACH transfers are 1% with QuickBooks versus 2.9% + $0.30 with PayPal
  • Swiped credit cards are 2.4% + $0.25 with QuickBooks versus 2.7% with PayPal
  • Invoiced credit card transactions are 2.9% + $0.25 with QuickBooks versus 2.9% + $0.30 with PayPal
  • Keyed-in credit cards are 3.4% + $0.25 with QuickBooks versus 3.5% + $0.15 with PayPal

Additionally, PayPal doesn’t come with the robust accounting software and back-end business support tools that come through QuickBooks. While some people may be more comfortable with PayPal because they’ve used it for personal reasons, QuickBooks is the next level for businesses.

Bottom line

Overall, QuickBooks Merchant services offer a robust lineup of tools and resources for business owners of all shapes and sizes to succeed. If you’re not interested in using any of QuickBooks’ software outside of payment processing, the company still wins when it comes to the costs of transactions.

But if you really want to turbocharge your business, consider using the business tools QuickBooks is most known for, with the payment gateway offerings added on.