Intuit GoPayment Review
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- Date Established
- Mountain View, CA
We’ve reviewed a number of Inuit’s products and services on this site, with varying levels of satisfaction. First of all, there’s Intuit QuickBooks Payments (formerly known as Intuit Payment Solutions), the merchant account provider that offers Intuit GoPayment. We also took a look at the QuickBooks POS software, which left us unimpressed.
That said, Intuit is probably best known as for its extremely popular QuickBooks bookkeeping software, which we gave a positive review. No doubt about it, Intuit’s QuickBooks stands as a force to be reckoned with for accounting. But can the company make it in the payments arena?
Unlike PayPal Here or Square, you will have to open a merchant account through Intuit in order to use GoPayment. This adds stability to the service — in theory, decreasing holds and freezes — and gives you access to the full suite of services QuickBooks Payments provides. You don’t have to take advantage of them, though, if all you’re after is a stable mobile processor that integrates with QuickBooks. While we’re not going to ignore all of those extra services Intuit provides (at no extra charge), here we are primarily concerned with the mobile app, GoPayment, and how those extra features will benefit merchants who need mobile processing.
You can actually get lower rates with Intuit’s pay-as-you-go plan than you’ll find at Square, except Inuit will charge you a $0.25 transaction fee, making small transactions more expensive to process via GoPayment.
If you are really interested in seamless QuickBooks integration or a full-fledged merchant account with mobile processing built in, then GoPayment will probably suit you well. We are extremely pleased with Intuit’s improvements in pricing transparency. We love that QuickBooks Payments and GoPayment will scale with your business. For these reasons, we’re raising Intuit GoPayment’s rating to 4 stars.
But you can get QuickBooks integration from other mobile processors, too (including Flint). And if you’re considering paying the $20 monthly fee for Intuit, you might consider looking at CDGcommerce instead. They’ll set you up for mobile and more, including the virtual terminal and card reader, for as little as $15 per month in fees and an interchange-plus pricing model. The choice is ultimately up to you.
Read on for the full review, and don’t forget to comment with your insights!
Products and Services:
- Merchant account: Using GoPayment means you get a bona fide merchant account from Intuit, which means you get access to other features, such as invoicing & ACH transfer.
- Free swiper: Note, you can only get a free swiper if you don’t currently have an Intuit merchant account. Also, you can only get one free reader per account.
- Mobile app: The crux of any mobile processing service is the smartphone/tablet app. Intuit’s app seems to be well reviewed overall. Here are some GoPayment features:
- Easy QuickBooks integration: One of the benefits of brand loyalty — exceptional compatibility. Easily import and export sales data between Quickbooks and GoPayment.
- Camera scanning: Like Flint, GoPayments allows you to use your smartphone camera to capture card information. The difference is that GoPayment processes these transactions at a higher rate than Flint.
- Record cash and checks: You can’t deposit checks, but you can record the transactions for seamless bookkeeping.
- Tax and tip: Collect sales tax and allow your customers to leave a tip.
- Add up to 50 users: Having many users on the same account able to use the service in unison could make a big impact for your business. Not all providers allow this.
- SMS or email receipts: A bonus — receipts sent by email are customizable and can include your logo and contact information.
- Inventory support: Include product descriptions, prices, and photos of your items in the app.
- Virtual terminal: Here’s a nice feature. With GoPayment, you can process cards from any Internet-connected computer via a virtual terminal. Most mobile processors don’t include this feature (PayPal charges you $30/month), but since this is a fully integrated merchant account, it makes more sense.
- Recurring billing: This is really more an extension of the merchant account, but like the virtual terminal, it could be useful to the right person and it’s available at no extra charge.
Intuit GoPayment doesn’t currently have an EMV solution. However, it is planning on launching its EMV-compliant reader at the end of March. You can pre-order the device for $30 (not a bad price at all), and Intuit will cover all liability issues you might encounter in the meantime. While it’s a bit disappointing that a company as large as Intuit couldn’t get its product out sooner, at least it has a tentative release date and the company has you covered for liability, which is great.
Your regular reader is free — at least for the first three readers. Additional readers are $9.95 each, which is not a bad price at all.
Fees and Rates:
In mid-2014, Intuit GoPayment drastically revised its pricing terms, greatly improving transparency and fairness for pay-as-you-go merchants. I’m thrilled to see this! I firmly believe that it’s readers who complain publicly about unfair practices, and independent reviews like this one, that create the pressure necessary for change. Intuit has also changed the relationship between its mobile payments and traditional processing sectors, combining them. If you only need a mobile option, you can use Intuit as a mobile option, but if you need a full-fledged merchant account plus mobile processing, you can do that, too. The rates and fees are exactly the same. Here’s what you can expect to pay:
- No monthly fee
- 2.4% + $0.25 per swiped transaction
- 3.4% + $0.25 per keyed transaction
- $19.95 monthly fee
- 1.6% + $0.25 per swiped transaction
- 3.2% + $0.25 per keyed transaction
(American Express rates and fees will vary.)
Which Inuit GoPayment Plan is the Best Value For You?
With the monthly fee plan, you get slightly lower rates in exchange for a monthly fee. With this option you can:
- Save 0.8% on swiped transactions
- Save 0.2% on keyed-in transactions
…if you’re willing to pay $19.95 per month extra, that is. As you can see, your savings is much higher for swiped transactions than keyed-in, but for the sake of this example, let’s assume you are swiping all transactions. This means that, for your savings to equal $19.95 (i.e., the break-even point), you would need to process $2,494 per month. (2,494 * 0.008 = 19.952) And that is just to break even, and it’s assuming you process only swiped transactions. To be safe, you should only use the monthly fee option if you are absolutely positive you will be processing well over $2,750 (ideally $3,000) each and every month. If you’re not sure, just stick with the pay-as-you-go option.
If you opt-in for PCI compliance service with the pay-as-you-go option, you’ll be charged $9.95 per month. You should also be aware of the fees at the bottom of Inuit’s Standard Pricing Schedule (if you’re a “legacy” customer, check out the official pricing schedule here). Here are the extra fees you might encounter:
- Chargebacks: $25
- ACH bank reject charge: $25
- Returned check fee: $10
Finally, be aware that Intuit will assign you a maximum monthly processing limit, and possibly a per-transaction limit. To keep your account stable, be careful not to go beyond those limits. You can request increases to your limits, but they are issued at Intuit’s discretion and may even require you to set up a reserve fund. That’s not uncommon, but it is something to be aware of. Still, I feel this is better than what you get from Square, which imposes limits, but doesn’t actually disclose what they are.
Contract Length and Early Termination Fee:
You won’t pay any early termination fees with Intuit GoPayment, typically speaking.
With the pay-as-you-go option, you can simply stop using your account without any penalty. If you use the higher volume option, then make sure to cancel your account or change over to the pay-as-you go option if you plan to take time off from processing. Otherwise, you’ll still have the monthly $19.95 taken from your account. If your account becomes inactive for six months, it will likely be suspended or terminated.
However, it’s worth mentioning that Intuit only allows you to switch between the pay-as-you-go and monthly plans once in a 12-month period, so if you expect to be inactive for a few months at different points in the year, play it smart and choose the pay-as-you-go plan, or find another processor.
If your account is closed due to merchant misconduct, however, Intuit reserves the right to charge a $500 termination fee per section 42 of the Merchant Agreement:
“We may terminate this Agreement without prior notice if: (i) we have reason to believe that fraudulent transactions or other activity prohibited by this Agreement is occurring; (ii) such action is necessary to prevent loss to us, (iii) violate any portion of this Agreement, including our Acceptable Use Policy; or (iv) you appear on any card or payment network or other fraud, prohibited, or security reporting list. An administrative account closure fee of $500 may be charged to you if we terminate for the reasons set forth in this section.”
You should also know that to cancel your account, you’ll have to mail or fax a formal written request for cancellation. This is pretty standard in the merchant account trade, but it’s not what users of services like Square are used to.
Sales and Advertising Transparency:
Intuit GoPayment has made great progress in the transparency category lately, and Intuit is now better than average, I would say. Most important information appears in the main advertising copy, and additional disclosures are not difficult to find. Nothing seems hugely deceptive at this point, now that it’s removed the hidden qualified fee. Good progress! Just make sure you read the GoPayment Terms of Service. This is basically a legally binding contract; and as we’ve mentioned time and again with our payment processing reviews, don’t sign anything without knowing what you’re agreeing to.
And please review the pricing schedule very, very closely.
Beyond that, Intuit does over a dedicated Twitter channel for support, @QBCares, in addition to its primary account, @Intuit, and a handful of other specialized accounts. This puts Intuit on par with both PayPal and Square, which offer Twitter support, and is keeping with the overall industry trends. Not only that, but Intuit is quick to respond on its primary and QuickBooks Facebook pages, and its reps identify themselves by name.
Many large companies struggle with social media, especially merchant account providers. Mobile payments tend to do a bit better overall, but that varies by company. Still, it’s something I look at because a solid social media presence is usually an indicator that a company knows how to market to small businesses and understands what they need. So I’m happy to see Intuit doing so well on that front.
Not only that, but the Quickbooks blog covers a wide range of topics that small business owners need. The content is great — and exactly what I like to see. There’s even a dedicated resource center for financial services. We’re living in the information age, people.
Customer Service and Technical Support:
While I’ve heard conflicting reports in terms of quality of support, I can at least say that Intuit’s service is very streamlined. The FAQ is enough to answer most basic questions, with live chat and phone support available depending on your issue. As a reviewer, however, it’s difficult for me to ascertain the quality of customer service when it comes to complex, account-specific issues that really set one processor apart from another. We rely on your reviews for that information, so if you have an experience with Intuit GoPayment, good or bad, please leave a comment!
Something that I feel compelled to mention is that there are companies out there who are impersonating Intuit support or give the impression of being part of Intuit when they are actually just a third-party middleman who will charge you for what Intuit can do for free. I came across several complaints on the BBB page regarding this, and it worries me. To be fair, this is not Intuit’s fault.
The good news is Intuit will do what they can to fix your issue. The bad news is, these shady tactics mean people are out for your money and your information. The best way to avoid this is to skip the Googling and go directly to Intuit’s support site. For Intuit Payments, including Intuit GoPayment, here’s the best way to get the number, taken straight from the Intuit site:
For questions about your QuickBooks Payments account or to add card types you accept, Click the Gear icon > Company Settings. Click the Payments tab on the left and call the number you see in Merchant details.
This is where you come in! Have you worked with Intuit GoPayment? Have a complaint, rip off report, or even a positive testimonial? Please leave us your review. Don’t forget to read the user review and comment policy.
Negative Reviews and Complaints:
While GoPayment doesn’t have its own BBB page separate from Intuit’s profile, you can find a smattering of complaints directed at GoPayment there. Just be prepared to dig a little bit.
However, I can say with confidence that if you have an issue with Intuit’s service and you can’t resolve it in house, you’ll be in good hands if you go through the BBB for help. I was honestly shocked at the quality of responses on the BBB site. Note, these are not specific to Intuit GoPayment, but across all of Intuit’s different products, you could tell the complaints are being handled by a real person who reviews each case before sending a personalized — not canned — response.
There are only 9 complaints about Intuit GoPayment on Ripoff Report, and the most recent is in 2013, long before the change in rates. There’s another report from 2014 for Intuit Merchant Services (the previous name for Intuit’s non-mobile merchant account option). There is nothing for “Intuit Payments” or “QuickBooks Payments.”
The GoPayment is rated 4+ in iTunes with more than 4,800 reviews. In Google Play, the app has 3.9 stars on more than 5,100 reviews. In the Amazon store, the app has 3.5 stars on 155 ratings, many of which are quite old.
Intuit actually responds to reviews — namely the ones that relate to glitches in the app — and seems good about fixing any problems in a timely fashion. I’d rather see no reports of technical glitches, but that’s just unrealistic in the mobile space, especially on the Android side of things. It’s still frustrating for merchants, though.
The major issues with GoPayment seem to be the following:
- Long hold times for customer service: Many users have reported less than stellar customer service, including unacceptably long hold time for unhelpful service. This is honestly the biggest complaint against GoPayment, but it’s also not unique to Intuit, either. Square has its issues; so do Pay Anywhere and Spark Pay. Even PayPal has problems. Still, you have several channels through which you can reach out.
- Held funds: Another complaint is Intuit holding the funds from large transactions. While it’s disappointing (and frustrating), it’s not surprising. Be aware of your processing limits. Contact Intuit if you need an increase, and be prepared to provide documentation to justify the increased limit.
- Having account upgraded without request: This fairly strange complaint comes up enough times to warrant mention. Merchants say they signed up for the basic, pay-as-you-go-option, but find out later they have been billed according to the upgraded monthly fee option. Even more strangely, a handful of people report having been charged for years without realizing it. A couple of complaints referenced the fact that charges by Intuit can show up on your bank statement under random names, making the charges difficult identify. When they contact Intuit, the company is typically unwilling to issue refunds, unless you go through the BBB.While this could be a matter of user error or even a technical glitch, you should be on the lookout. And again, read your statements regularly and make sure you understand every charge. If you don’t, make sure you get an answer. If your processor can’t deliver that, find someone else.
- Difficulty canceling: Many don’t realize that in order to cancel your account, you’ll have to fax or mail a formal cancellation request. For some, completing and following up with this has led to longer-than-desired waits for cancellation, which ultimately translates to more fees.
Positive Reviews and Testimonials:
In the past, some affiliate marketers were getting pretty vocal about the supposed benefits and advantages to Intuit. We found most of those claims to be spotty — but those dubious reviews have fallen to the wayside. There are some noteworthy positives:
- Higher processing limits than other mobile providers, even with pay-as-you-go.
- Seamless QuickBooks integration.
- Up to 50 users can use a single account, great for growing businesses.
- Accept payments from Visa, MasterCard, Discover, American Express, JCB and international cards.
- Straightforward rates.
Intuit has made serious strides in the transparency department, which is always great to hear, and makes us feel much better about the service overall.
Overall, a common type of complaint I see is “I have been with X company forever, but I just found out that I’ve been getting screwed over the entire time or I’ve been having lots of problems lately.” I honestly haven’t seen many of those complaints with Intuit (there are some; check out the comments below) — a fair number of app reviews on Google and Amazon reference being long-term customers, and they’re happy with the service.
Let’s not forget that you’re setting up a full-fledged merchant account with Intuit, so if you need a comprehensive payment solution on top of mobile support, you’re fully set. In addition to seamless bookkeeping, you can set up ACH transfers for a low flat cost, you have eCommerce support, and if you want to upgrade to a full-on register setup later instead of just a mobile solution, you don’t need to switch processors. Intuit really does have a solution that will scale with your business, which is rare to see in the payments industry, and especially in the mobile space.
Final Verdict on Intuit GoPayment:
Intuit has made some serious improvements to its mobile payments service, and its overall pricing structure. The issuing of a merchant account gives you more stability than aggregators, which is probably the biggest concern a lot of merchants have — understandably so, since businesses need access to their funds as well as a reliable way to process credit cards.
The QuickBooks integration makes it easy for you to keep track of your funds and your expenses. And the GoPayment app is a solid offering, giving you everything you need to accept credit cards on the go and in store. As your business goes, you can start using more of QuickBook Payments’ other features. Intuit really bridges the gap between standalone mobile processors and standard merchant account providers, offering the best of both worlds.
Because the pricing is fair and transparent, there are no shady gimmicks, and you get a robust set of features tailored for small and growing businesses, we’re comfortable awarding GoPayment 4 stars. If Intuit can step up the quality of its service, we might consider raising that rating even further.
If you want to see how GoPayment stacks up against our other mobile payment options, you can do that here. If you’re also interested in seeing how Intuit fares against other merchant account providers, you can find that comparison chart here.
Please comment with your experiences and insights!