How Much Does QuickBooks Online Credit Card Processing Cost?

Understanding the costs associated with credit card processing is crucial for any business considering QuickBooks Online Payments. Credit card processing fees can significantly impact your bottom line, making it essential to know exactly what you’re being charged and how it compares to other payment platforms. QuickBooks Online offers competitive rates and integrates seamlessly with its accounting software, providing a convenient solution for managing both payments and finances.

QuickBooks Online Payments allows businesses to accept various forms of payments, including credit and debit cards, ACH bank transfers, and digital wallets. These features make it a versatile option for small to medium-sized businesses looking to streamline their payment processing and accounting operations. Let’s explore the costs involved and how they compare to other similar platforms.

QuickBooks Online Credit Card Processing Costs

The costs for processing payments through QuickBooks Online are straightforward. Here’s a breakdown:

• Swiped, dipped, and tapped transactions: 2.4% + 25 cents per transaction.
• Online and invoiced payments: 2.9% + 25 cents per transaction.
• Manually keyed transactions: 3.5% + 30 cents per transaction.
• ACH bank transfers: 1% per transaction, with a maximum fee of $10.

These rates are competitive, especially for businesses that process a high volume of transactions. QuickBooks Online does not charge monthly fees for its payment processing services, which is a significant advantage over some competitors that may have monthly or hidden fees.

Comparing QuickBooks Online to Other Payment Platforms

When comparing QuickBooks Online Payments to other payment platforms like Square and Stripe, QuickBooks holds its ground quite well. Here’s a quick comparison:

• Square: Charges 2.6% + 10 cents per in-person transaction and 2.9% + 30 cents for online transactions. Square also offers a point-of-sale system, which is beneficial for retail businesses.
• Stripe: Charges 2.9% + 30 cents per transaction for online payments, which is similar to QuickBooks Online. Stripe is highly popular among e-commerce businesses due to its robust API and customization options.
• PayPal: Charges 2.9% + 30 cents per transaction for online payments, with additional fees for currency conversion and other services.

From the above comparison, QuickBooks Online Payments is often more affordable for businesses that frequently process payments in person due to its lower in-person transaction fees. Additionally, the integration with QuickBooks Online accounting software offers a seamless experience that can save businesses time and reduce errors in financial reporting.

Additional Benefits of Using QuickBooks Online Payments

QuickBooks Online Accounting Integration

One of the most significant advantages of using QuickBooks Online Payments is its integration with QuickBooks accounting software. This integration allows for automatic syncing of payment data with your financial records, reducing manual data entry and the potential for errors. Businesses can easily track their income, expenses, and cash flow in one place, making financial management more straightforward and efficient.

Explore the benefits of accepting credit card and ACH payments in QuickBooks Online.

Security and Compliance

QuickBooks Online Payments adheres to stringent security standards, including PCI compliance, ensuring that all transactions are secure. This compliance is crucial for protecting sensitive customer information and maintaining trust. QuickBooks also offers payment dispute protection, covering up to $25,000 per year, which can be a significant benefit for businesses concerned about chargebacks.

Customer Support

QuickBooks offers robust customer support for its payment processing services, available Monday through Friday from 6 AM to 6 PM PT. This support can be invaluable for businesses needing assistance with payment issues or technical difficulties. QuickBooks also provides an extensive online resource hub with articles, tutorials, and community support.

Flexibility and Convenience

With QuickBooks Online Payments, businesses can accept a wide range of payment methods, including credit and debit cards, ACH transfers, and digital wallets like Apple Pay and Google Pay. This flexibility allows businesses to cater to their customers’ preferences, potentially increasing sales and customer satisfaction.

Conclusion

QuickBooks Online Payments provides a comprehensive and cost-effective solution for credit card processing. Its competitive rates, seamless integration with QuickBooks Online, and robust security features make it an excellent choice for businesses looking to streamline their payment and accounting processes.

If you’re ready to experience the benefits of QuickBooks Online Payments for affordable credit card payment processing, Paygration can help. Get started today by calling 866-949-7267.