What are QuickBooks Merchant Services?

QuickBooks offers its users with special feature of getting all transactions done through its merchant bank. QuickBooks Merchant bank is a financial institution that provides service to its users for accepting and processing payments through credit cards or other online mode. Once the payment gets processed, your customer will get notification about payment is successful or not.  In other words, QuickBooks Merchant Services is completely a package of QuickBooks payments having credit card processing merchant account software. In short form, it is formerly known as QBMS. You can get payment through credit cards or from mobile devices from your customer whether you are at your shop or at customer’s location.

Know more about QuickBooks Merchant Services

QuickBooks Merchant Services are kind of services that include online terminal for all credit cards processing services. You can get the payment that are receivable from customer from your web browser, from your online store, from your mobile device or from your QuickBooks as it depends totally upon you that on which platform you are required to accept the payments. In QuickBooks there are two payment models that are available for any merchant to make the payments either by accepting to pay monthly fee for lower percentage per transaction or no monthly fee for higher percentage per transaction. So it is your choice to opt any one from the two payment options that are provided by QuickBooks Merchant Services.

Let us know QuickBooks Online Terminal in Brief

A merchant service whereby payments done through credit cards are accepted online is referred to as QuickBooks Online Terminal. Here are some easy steps that guide you more about QuickBooks Online Terminal.

  1. You are required to sign up into Merchant Online Terminal Account if you are a new user and if your account already exists then you need to sign in to your Merchant Online Terminal Account.
  2. Now enter the credit card details of the customer and transactions can be completed thereafter.
  3. Customers can be acknowledged by sending them auto-generated receipts through mail.
  4. Recurring Payments can be created and set up for the customers that are regularly billed.
  5. QuickBooks Online Terminal allows its multiple users to process the payment at the same time without failing.
  6. In this Online platform of QuickBooks Merchant Services, Data gets compiled in excel by which you can easily track and report past transactions.

Different mode of Payments in QuickBooks Merchant Services

  • Payments through Mobile Phones
  • Web Stores Merchant Services
  • Payments within QuickBooks

Payments through Mobile Phones

Being a merchant, a card reader is provided to you so that you can connect it with your phone, iPhone, android or iPod in order to accept the payments from your smart phone with the help of QuickBooks Merchant Services. For this what you need to do is just to swipe the card and login with Customer detail in the app so as to process the fee and make payment successful. The receipt though generated can be customized thereafter and can be sending to the customer for their reference. This service is available and extended up to 50users for making the payments.

Web Stores Merchant Services

In today’s scenario, various online web stores like Go Daddy, ultra Cart, web.com etc. are available for merchants that work for e-commerce companies. You just need to choose the online web store and associate your merchant account with it so that your customers could easily enter their credit card information to process for making the payments online. This web store Merchant Service is 100% fraud protected and secured whereby after successful completion of payments report gets generated automatically.

Payments within QuickBooks

One of the main features of QuickBooks is that it allows its users to receive the payment from customers within QuickBooks itself. The desktop version of QuickBooks is much similar to web stores merchant services which enables you to accept payment within QuickBooks while syncs your QuickBooks, account transactions but with prior permission and authorization. In QuickBooks online, payments can be accepted through Mobile device or through QuickBooks accounts.

Benefits of Using QuickBooks Merchant Services

Once you get approval for using QuickBooks Merchant account, you start getting payments from customers through credit cards. And you find many benefits of using it like.

  • Secured and Protected Gateway: Payments made through its Gateway are 100% Protected. These are protected from any kind of fraudulent activities. Hence it is more secured mode of making payments.
  • Quick Transactions: At the time of processing the fees, your customer is notified within few seconds about the successful completion of transactions along with auto generated receipt having reference number and a transaction ID.
  • Amount Credited within Next Working Day. It takes only next business day before 3pm that

Payment made by your customers through credit card reflects in QuickBooks account.

After understanding all about QuickBooks Merchant Services, you must definitely use it at least once.