Payment processing fees, among many others, are a necessary cost in business today. Otherwise, you can’t accept customer transactions. Whether your business is eCommerce or brick-and-mortar, you can expect these fees to impact your profit margins significantly.
QuickBooks Payments, a popular option for many small-to-medium-sized businesses, offers convenience and functionality but comes with its own set of fees and pricing structures. In this Payment Nerds piece, we’ll explore what fees QuickBooks offers in 2024 and why we might be a better fit for your merchant processing needs.
How QuickBooks Helps With Accepting Payments
QuickBooks offers payment processing solutions designed to simplify the payment process for businesses. Whether you’re running a small business or managing a growing company, QuickBooks offers an all-in-one solution to streamline more aspects of your financial operations. Here’s a closer look at some of the key payment processing features QuickBooks Payments brings to the table:
Invoiced Payments
QuickBooks simplifies the invoicing process, making it faster and more professional. Businesses can send invoices directly from QuickBooks with integrated payment links, allowing customers to pay online with just a few clicks. The software benefits businesses by providing greater invoicing functions such as:
- Customizable Templates: Create invoices that reflect your brand with logos, custom fields, and personalized messages.
- Payment Reminders: QuickBooks automatically sends reminders to customers with unpaid invoices, reducing the need for awkward follow-ups.
- Pay Now Buttons: Payment links embedded in invoices make it easy for customers to pay immediately, speeding up the payment cycle.


Flexible Mobile App & Card Reader
QuickBooks also provides its own mobile app. Businesses can quickly set up the app on their chosen mobile device and begin making in-person transactions whenever needed. Available for iOS and Android, the app syncs with your Quickbooks account and automatically sends customer and transaction information to it for future purposes. The app also calculates and applies sales tax and sends receipts to customers via text or email[1].
In addition, QuickBooks offers a handy card reader device, which allows you to take in-person chip insert or tapped card payments and contactless digital wallet payments by phone. Transact anywhere and serve your customers, wherever they may be.
Synced Product Integrations
All products within QuickBooks’ ecosystem sync together, providing immense flexibility and efficiency. Through QuickBooks, you can share information from accounting, payroll, time-tracking, point-of-sale systems, and payment processing all in one place.


Immense Scalability
As your business grows, so do your payment processing needs. QuickBooks Payments is designed to scale with you. Whether you’re expanding into new locations, increasing your transaction volume, or offering new services, QuickBooks Payments can adapt to handle the increased demand.
Merchant Pricing & Fees for QuickBooks Payments
In addition to its quality range of features, QuickBooks’ payment fees also attract customers to its business as a payment processing service provider. Here is a quick chart showing its various fee rates (as of July 31, 2023):
Type |
Fee Rate |
Invoices or quick requests (via credit cards & digital wallets)[2] |
2.99% |
Invoices (via ACH payments)[2] |
1% |
In-person card reader (for digital wallets and credit card payments)[2] |
2.5% |
Keyed-in payments[2] |
3.5% |
Payment dispute protection[2] |
Starts at 0.99% |
While QuickBooks’ merchant processing fees are fairly competitive, customers are required to sign up for a QuickBooks Online account. This incurs additional costs that can range from $35 a month (for the Simple Start tier) to $235 a month (for the Advanced tier)[3].
These overall costs can greatly influence the financial position of your business, whether it is a small or enterprise-level organization. To ensure you get the best payment processing rates for your business while enjoying the immense benefits of QuickBooks’ accounting software, apply with Payment Nerds today.
Working with Payment Nerds
While QuickBooks Payments is convenient, it isn’t always the most cost-effective or flexible option. That’s where Payment Nerds comes in. We offer a tailored approach to merchant services that prioritize your business’s unique needs.
Variable Fee Structure
One size doesn’t fit all, especially when it comes to payment processing. While QuickBooks offers a flat rate for many payment methods, Payment Nerds has an even more flexible tiered fee structure. So, if your business is high-risk, you’ll likely receive merchant processing fees that are close to QuickBooks’. However, if you achieve a mid or low-risk qualification, you’ll enjoy even lower rates. This approach can lead to significant savings, particularly for companies processing large transaction volumes.
Tailored Payment Solutions
At Payment Nerds, we understand that every business is different. Whether you’re a high-risk merchant or a local coffee shop, we design customized payment solutions to align with your operational and financial goals. This personalized attention ensures you get exactly what you need so you can focus on providing excellent services and products to your customers.
Consistent Customer Support
Payment processing can be complex, and when issues arise, they need to be resolved quickly. Unlike QuickBooks’ limited and often poorly-reviewed customer support, Payment Nerds’ support teams are prepared to address payment-specific concerns efficiently. We provide 24/7 customer support with dedicated representatives who understand your business.
Broad Integration Range… Including QuickBooks!
Already committed to QuickBooks for accounting? No problem. Payment Nerds integrates seamlessly with QuickBooks and a multitude of other software platforms. This gives you the flexibility to choose our payment processor without disrupting your existing systems and workflows.
Conclusion
QuickBooks Payments offers great convenience and integration, and its fee structure is quite competitive compared to other payment processors. However, it can be limiting, especially for high-volume merchants. Additionally,
By partnering with Payment Nerds, you can enjoy flexible pricing, tailored solutions, and exceptional support —all while retaining compatibility with your trusted QuickBooks accounting software. Learn how Payment Nerds can help you save money while optimizing your payment system.
Frequently Asked Questions About QuickBooks Merchant Processing Fees
Does QuickBooks ever reduce their rates?
No, the rates that QuickBooks offers remain the same no matter what kind of card your customers use, whether they be Visa, MasterCard, Discover, or American Express.
Does QuickBooks charge any monthly fees?
No, QuickBooks does not charge a monthly service fee. However, higher per-transaction fees can offset the absence of a monthly charge, particularly for businesses with frequent transactions or larger ticket sizes.
Are there other QuickBooks accounts?
QuickBooks Online is needed if you want to utilize the platform for payment processing, as well as QuickBooks Money. The difference between them is that QuickBooks Money is mainly for managing money for your business, helping you handle invoicing and debit and credit card transactions. On the other hand, QuickBooks Online provides these same features and additional accounting tools.
Are there additional fees for international transactions?
Yes, QuickBooks includes extra fees for processing payments made with non-U.S. cards. These costs are added to the base transaction fees, so businesses handling international payments should be prepared for these additional charges.
Is QuickBooks suitable for high-risk businesses?
QuickBooks does not specialize in high-risk industries. High-risk businesses may face difficulties in approval or higher-than-average fees. However, Payment Nerds provides customized solutions for high-risk merchants, ensuring better rates and a smoother experience.
Sources
- NerdWallet. “QuickBooks Payments Review 2024: Cost, Pros, Cons.” https://www.nerdwallet.com/article/small-business/quickbooks-payments-review. Accessed December 12, 2024.
- QuickBooks. “Payments & banking.” https://quickbooks.intuit.com/payments/payment-rates/#Card%20reader%20rates. Accessed December 12, 2024.
- QuickBooks. “Pricing.” https://quickbooks.intuit.com/pricing/. Accessed December 12, 2024.