QuickBooks Online Payments, now known as QuickBooks Payments, provides a seamless payment processing solution that is deeply integrated into QuickBooks Online. This integration offers numerous advantages over other credit card processors like Clover, Stripe, Square, Authorize.net, and National Processing. Here's why:
Seamless Integration with QuickBooks Online
QuickBooks Payments integrates directly with your QuickBooks Online software. This seamless integration eliminates the need for manual data entry, as all information regarding transactions, customer data, and sales is automatically updated within QuickBooks. This feature reduces errors, saves time, and provides real-time insights into your business's cash flow.
Fast Deposit Times with QuickBooks Payments
One significant advantage of QuickBooks Payments is the quick deposit times, which help improve cash flow and provide better control over your business's finances. Credit card payments processed through QuickBooks Payments typically reach your bank account within 1-2 business days. On the other hand, ACH bank transfers might take 2-4 business days, depending on the transaction.
QuickBooks Payments also offers a next-day deposit feature for eligible businesses. By signing up for this feature, you can receive your cleared credit card transactions directly into your bank account the next business day (provided the transactions are completed before the cut-off time).
Time Savings on Payment-Related Tasks
QuickBooks Payments grants the convenience of managing your account, customers and processing payments within a single platform. As a result, you can save substantial time and effort in handling various tasks related to payments. It keeps you from shuffling between different apps or software, leading to a more streamlined operation.
Competitive Pricing Structure
QuickBooks Payments offers competitive pricing, either pay-as-you-go (ideal for new or smaller businesses) or a monthly rate (for companies with a larger volume of transactions). In comparison, some solutions, such as Square, Stripe, and Clover, might have higher transaction fees.
See a chart comparing credit card processing fees Intuit charges with other credit card processors.
Streamline Business and Drive Growth
QuickBooks Payments provides methods to receive payments online through credit cards, debit cards, or ACH bank transfers. Also, automated invoicing and payment reminders help ensure timely payments, thus improving the cash flow. By offering customers many payment options and speeding up your payment receipt process, Trustworthy Payments can help increase customer satisfaction and, in turn, drive business growth.
QuickBooks Payments is a strong contender in the business payments sector by providing a comprehensive, integrated, time-saving, and growth-oriented payment solution for businesses of all sizes.