6 Pros and Cons of Using Quickbooks Payments

quickbooks payments


If you use QuickBooks to accept payments from your customers, you probably do it because it’s convenient. It provides an easy way to receive payments – and you might not have given much thought to how much it’s costing you in QuickBooks payments fees.

At CardChamp, we provide an alternative to QuickBooks payments. But before you make a decision about which processing company to use, we think you should weigh both sides. Here are six pros and cons of using QuickBooks payments.

Pros of Using QuickBooks Payments

Let’s start with the good news. There are some excellent reasons to consider using QuickBooks payments. Here are the pros as we see them.


The first and arguably the best argument for using QuickBooks payments for your business is that it’s convenient. QuickBooks is the most widely used business accounting software. Accepting payments through QuickBooks allows you to streamline your accounts receivable processing by immediately matching invoices with payments.

If you use QuickBooks online, you can sync with your bank accounts and save time when logging payments.

All-in-One Solution

For some business owners, the notion of using multiple programs to manage the various aspects of their finances is a daunting one. Using QuickBooks payments to accept credit card payments from your customers can simplify the process by allowing you to create and send invoices and accept payments in the same place.

Business owners who value simplicity may decide that they prefer using QuickBooks because it allows them to do most of what they need in one place.


You know that people are creatures of habit -- and so are customers. Many individuals and companies are familiar with QuickBooks because it is both well-known and widely used. Their familiarity may make it difficult to switch to a new payment processing company -- at least without doing some explaining first.

If your customers are comfortable paying via QuickBooks, then you may need to explain to them why you’re switching if you decide to change processing companies.

Cons of Using QuickBooks Payments

While the comfort of familiarity may be why you’re using QuickBooks payments, there are some significant and compelling reasons to seek out other online payment alternatives for your business.

Frequent Updates and Downtime

One of the biggest issues of using QuickBooks online is that Intuit -- the company that makes QuickBooks -- releases frequent updates. These updates can slow down processing times and even keep you locked out of your account. They can also make it difficult for your customers to pay.

QuickBooks payments are convenient when they’re available, but availability may be a problem when there’s a new update to be installed. QuickBooks also changes its subscription plans frequently.

Slow Servers and Processing

As we said before, QuickBooks is by far the most popular business accounting program in the United States. That means that thousands of other businesses use QuickBooks online and are competing with you for bandwidth.

The result is that the processing times for QuickBooks can sometimes be quite slow. That’s an issue that can impact your ability to accept payments via QuickBooks. It may also affect your customers’ willingness to pay using QuickBooks because their time is valuable, too.

High Processing Fees

In any situation when we opt for convenience, we’re accustomed to paying more to get what we need. That’s the reason that milk is significantly more expensive at a convenience store than at a supermarket.

The same is true of QuickBooks payments. The price you pay for the privilege of allowing your customers to pay online via QuickBooks is a high one. QuickBooks payments fees work like this:

  • 2.4% for swiped credit cards
  • 2.9% for invoiced credit cards
  • 3.4% for keyed credit cards

Unless you charge your clients for credit card processing, those fees are coming out of your bottom line. If many of your customers pay with credit cards, the impact on your profits can be quite significant.

Should You Use QuickBooks Payments?

Given how high QuickBooks payments fees can be, you might be wondering if it’s worthwhile to continue using QuickBooks to process credit card payments.

We can’t answer that for you. However, we can tell you that there are alternatives to QuickBooks’ high fees.

At CardChamp, we offer three pricing options to suit your business needs. The first option is our wholesale pricing, which allows you to pay the direct interchange fee with no basis points and a small fee per transaction for a low, flat monthly subscription fee.

Next, there’s our free pricing, which allows you to pass the processing fee on to your customers by charging a non-discounted price on your invoices. You’ll pay only a $10 monthly fee.

Finally, we offer our match capital advantage option, which matches the existing fees from your processing company and provides you with the working capital your business needs.

It might be convenient to use QuickBooks online to accept credit card payments, but there are less expensive alternative available.

Click here to learn how CardChamp can help you save money on your QuickBooks payments fees!

Jimi Romanus

Written by Jimi Romanus

Currently rooting for the Milwaukee Bucks