By reducing competition Intuit is able to charge excessive fees. Intuit knows that competition from other credit card processors will drive processing costs down, so the company designs QuickBooks so it will only work natively with Intuit’s own credit card processing service. But this convenience comes with a hefty price tag. Intuit’s popular QuickBooks accounting software makes it possible for users to process and record a credit card transaction in one easy step. The company offers GoPayment readers for mobile solutions and partners with companies like Revel for POS systems. Depending on your needs, you can also purchase equipment through Intuit. The company offers options for brick-and-mortar in-person payments, mobile in-person payments, online transactions through compatible web stores, and phone payments. You can use Intuit payments for accepting all major credit and debit cards. You may see references to “QuickBooks Payments” or “Intuit Payments,” both of which refer to accepting cards with Intuit. Most people know Intuit as the makers of QuickBooks, but the company has a merchant services division so that you can sign up for credit card processing as well. If I don’t use QuickBooks, can I still use Intuit credit card processing?.If I use QuickBooks, do I have to use Intuit credit card processing?.In this article, we’ll briefly review what you get with Intuit credit card processing, the costs, and alternatives if you want to use QuickBooks but don’t want to pay the high processing fees associated. If the company’s credit card processing keeps going as it is, Intuit will also become known for exorbitant credit card processing charges and excessive downgrades. Intuit is best known as the maker of the popular QuickBooks accounting software, and as the provider of the GoPayment mobile processing application. Based on the countless Intuit merchant account statement analyses we have done here at CardFellow, we have found Intuit’s credit card processing charges to be 40% – 50% greater than the rates businesses receive in our free marketplace.
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