Last Updated on December 15, 2020 by Editorial Team
Intuit Payment (IP) allows us to accept credit cards, debit cards, and bank transfers to send the details of the invoice to the merchant. IP is a payment processor that is set up in Quickbooks Online. So in this, you can receive the payments digitally through Quickbooks. IP lets us record the transaction and makes the payment.
Intuit payments Network allows the user to make the payment directly to the customer. And the payment can be received within five working days after the payment has been done. The user can make payment through the card readers also. The IP makes it easy for the customers or used to make payments through cards or bank transfers. Paypal is one kind of example of IP. There are various ways to accept the payment from the customer. Let’s see some of them.
- Provides transparent Flat-rate pricing
- Intuit Payments gives solutions with online, mobile, and POS payments
- The setup for Intuit QuickBooks users is very simple
- The costs are quite higher as compare to other credit card payment processing pricing models
- Customer service is poor as it not available 24/7
Ways to Accept Payments
Card Payment: Card payment is one of the most appropriate payments in the intuit payment world, where no face-to-face interaction is required instead can do payment through mobile phones, tablets, or iPhones. It includes credit card and debit card payments.
Card Swipers: By swiping the card, the customer can do the payment to the QuickBooks merchant service. Just you have to do is swipe the card in swiper enter the code and the amount will be deducted. No need to carry heavy cash loads with you.
GoPayment App: The GoPayment app has been designed to receive and send the payments. The Gopayment app gives the user low, flat rates; no monthly issues and can receive the payments in the next business days. The GoPayment allows users to create items and set up the taxes and sales to get the business raise to a high standard.
Why use Intuit Payment
Intuit payment is easy and provides security in making payments. The credit card and debit card details are added to it to make the transaction or the payment easy to the merchant or the customer.
IP makes the checkout process easier and more smooth. The details stored in the IP will remain secure. IP provides a secure refund policy. In the IP multiple payments are allowed which makes the payments more convenient and more methods of payments can be stored of debit, credit, and eChecks. To use the eChecks, the eChecks option should be selected in your IP account
Set Up the Intuit Payment
It is the payment processor in the Quickbooks to make the payment digitally. To make the payment, one should have the account or do have to sign up with an account. With IP you can save the customer’s details, cards detail, and business details so you can charge them easily. Intuit QuickBooks payment is easy to use on the go you can use it on your mobile phones with a card reader attached. Here is to set up the intuit payment:
- Go to the Accounts and then Settings
- Now to the Payments
- If would have been set up you will see information about managing your payment account.
- If it does not have payment setup then click on the button saying Learn More and this will show the rates and will show how it works
- Then click on Setup Payments and fill in the business information, personal information, bank details.
- After completion review, your details approve yourself, in a few days you will get approved, and then you can move ahead.
How Does Intuit Payments Work
After the setup of the Payments account, users can complete a sale, and Intuit processes the payment, make a record of the transaction, calculates sales tax, and make a sales receipt. Intuit Payments accepts American Express, Mastercard, Visa, Discover, and Apple Pay. Users can also accept Automated Clearing House payments.
PayPal account in QuickBooks Online is also available. All Credit card payments can be deposited within two to three working days. In some cases, next-day deposits are supported without additional fees. Basically, deposit times depend on the types of payment users make.
Intuit Payment Network (IPN)
Intuit payment network abbreviated as (IPN). In this, the sender sends the payment and the receiver is notified about the payee that is sent from the sender. And after this, the money is transferred from payers to the payee’s bank. It is the method to send and receive the payments digitally. This method is the fastest method of payment and is convenient to use. Through IPN network is the modern way and payments are accepted through debit cards, credit cards, and electronically. You can pay the payee from a simple pay button.
So here’s the question why we use this? So the answer is that it is secure and the payer can pay from anywhere and the payee can receive the payment from anywhere digitally. And one can pay to any authorized person and it is completely free no extra charge is required. When you pay from the payment network you can easily track your payment.
IPN fee schedules
The pricing schedule is as follows
- The monthly fee is $0 for the non-monthly fee plan and $19.95 for the monthly fee plan.
- The pricing schedule for swiped credit and debit cards is %2.70 for nonmonthly fee plan and 2.30% for monthly fee plan.
- The pricing schedule for PIN debit card is 1.0% for both non-monthly and monthly fee plan.
As you have read, this blog is about intuit payment. The main motive of writing this blog is, to make know the readers about the IP. It is a setup Of Intuit QuickBooks for the Online payments procedure. It is easy and safe to make payments to customers through credit cards, debit cards, and bank transfers. IP saves the payment details without any risk. To know how to set up the payments you can follow the steps mentioned above.
This blog also contains information about Intuit Payment Network and its related fee schedules. Lastly, I want to conclude that IP is ‘read-only’ so that all your information mentioned is safe. And no one else can use that information for any kind of payment. Btw IPN most convenient and easy way to pay the customer digitally. As all its information is secure.