Intuit Merchant Services

For those who process more than 25 payments a month, IMS also synchronizes with your bank account, and QuickBooks’ robust reporting features serve here as well, allowing easy tracking of all your transactions.

Optional IMS features expand the basic functionality. Merchants who participate in trade shows or who conduct other business away from the store or office can accept payments with a virtual terminal, using any Internet connection to record entries. With customer authorization, another option securely stores credit card information so you can set up recurring payments and avoid monthly input. Still another option lets customers make direct payments to you online.For merchants who want to expand into online commerce but don’t know how to create a website, IMS provides a solution. Yet here is where the negative aspects begin, in this case, in the form of additional costs. For a fee, you can get a package that delivers web hosting, a web storefront and shopping cart software. The virtual terminal itself, however, is an optional feature and also costs extra. Additionally, key-entered card numbers carry a higher per-transaction rate than swiped entries. Naturally, you can purchase a card reader for an additional cost.The service’s limitations quickly become apparent to anyone who doesn’t use QuickBooks. IMS only integrates directly with Intuit’s own software. For other accounting methods, get ready for double transaction entry. Anyone who already has a website or who would like to tweak their storefront may find limitations as well. Perhaps the biggest drawback to IMS is the lack of customization allowed with accounts, which can be a truly frustrating barrier.Contract costs have been confusing to many, generating complaints of unclear rates and policies for setup costs, monthly fees and early cancellation fees. Intuit’s advertising claims there are no cancellation fees, yet there are widespread complaints from merchants being charged $295 for leaving the service. Monthly billing problems and withheld fund deposits are other common complaints; another is reportedly poor customer service. The number of complaints may be relative given Intuit’s size, but reading the fine print is always wise.While there are benefits to working with a large multi-option player such as Intuit, merchants should be fully aware of the drawbacks. You will be paying a higher rate than you could be paying. In the event that paying that premium is worth the integration options for businesses that rely on other Inuit products is really a decision that will be unique to each owner.