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Merchant Services Agreement Intuit

Merchant Services Agreement Intuit

Merchant Services Agreement: What You Need to Know About Intuit

If you`re running a business that accepts credit card payments, you`ll need to sign a merchant services agreement with a payment processor. One of the most popular options for small businesses is Intuit Merchant Services. Here`s what you need to know about the Intuit Merchant Services agreement.

What is Intuit Merchant Services?

Intuit Merchant Services is a payment processor that offers services such as credit card processing, e-commerce solutions, and mobile payments. Intuit is best known for its accounting software, QuickBooks, and its merchant services integrate well with QuickBooks.

What is a merchant services agreement?

A merchant services agreement is a contract between a business and a payment processor. It outlines the terms of the relationship, including fees, processing rates, and security measures. It also outlines the responsibilities of both parties.

What are the key terms of the Intuit Merchant Services agreement?

Fees: Intuit charges a per-transaction fee, as well as a monthly fee for its services. The exact fees depend on the type of business and the volume of transactions.

Processing rates: Intuit offers competitive processing rates for credit card payments. The rates depend on the type of payment process (swiped, keyed-in, or e-commerce), the type of credit card (Visa, Mastercard, etc.), and the volume of transactions.

Security measures: Intuit offers a range of security measures to protect your business and your customers` data. These include encryption, fraud detection, and chargeback protection.

Services: Intuit offers additional services, such as e-commerce solutions and mobile payments, that can be added to your merchant services agreement.

What are the benefits of using Intuit Merchant Services?

Integration with QuickBooks: If you`re already using QuickBooks for your accounting needs, integrating your merchant services with QuickBooks can save you time and make accounting easier.

Competitive rates: Intuit offers competitive processing rates for credit card payments.

Security measures: Intuit offers a range of security measures to protect your business and your customers` data.

Additional services: Intuit offers additional services, such as e-commerce solutions and mobile payments, that can be added to your merchant services agreement.

What are the drawbacks of using Intuit Merchant Services?

Fees: Intuit charges a per-transaction fee, as well as a monthly fee for its services. Depending on the volume of transactions, these fees can add up quickly.

Integration with QuickBooks: While integrating your merchant services with QuickBooks can be a time-saver, it can also be frustrating if you experience technical difficulties.

Final thoughts

If you`re looking for a payment processor for your small business, Intuit Merchant Services is a solid choice. Its integration with QuickBooks, competitive rates, and security measures make it an attractive option. However, be sure to review the fees and terms carefully before signing the merchant services agreement.