Intuit payment is the most used in the business industry for its payment network across the United States. In modern times, no one uses the old traditional methods for sending or receiving payments, and Intuit provides the best features and functionality with its payment network, which is the reason behind the popularity of the Intuit payment network all over the industrial market. In this article, we have discussed Intuit payment network, its reviews, pricing, and features briefly so that you can understand the working of IPN.
What is Intuit Payment Network?
The Intuit payment network is a system that allows businesses to send or receive payments electronically. There is no need for a traditional banking system in which you have to fill out a check for the payments. It is part of Intuit’s broader payment solutions, which enable businesses to send and receive payments, create invoices, and manage their payment processing through services like QuickBooks payments and other products. The IPN system manages all kinds of payments, such as in-store, online, and mobile payments. It is all in one place for all kinds of payments.
The term Intuit Payment Network is an outdated term for the company’s payment service. Many users still think of the payment service as Intuit payment solutions, but the recent pricing models fall under the QuickBooks payment umbrella.
How are the Reviews of Intuit Payment Network?
Intuit payment networks consist of mixed reviews. There are many users who say that it is useful for them, and many say it is not useful for them. Intuit payments have both their pros and cons for the users, depending on the users’ needs. If a user wants strong integration, easy setup, and the ability to accept various payment types, then Intuit payment network is best for them, but it also has cons, also like slow deposit time, inability to issue partial funds without reprocessing the full amount.
Therefore, the reviews consist of mixed thoughts, which are dependent on the user’s needs. According to recent surveys, many customers placed their reviews about the Intuit Payment Network. Let’s discuss them in detail.
Pros and Cons of the Intuit Payment Network(IPN)
Pros
- All-in-one Solution: Give customers many ways to pay, send, or receive every kind of payment, like mobile payments, in-store payments, and online payments.
- Fast and User-Friendly: Intuit payment solutions provide fast and user-friendly payments so that every person can make payments using Intuit.
- Cost-Effective: IPN has the best processing charges and costs that can be afforded by any user.
- Easy Management: It is very easy to arrange and learn.
- Best for Payroll: Intuit payment network is the best way to manage payroll, and it can easily manage a company’s payroll process without any mistakes.
Cons
- Time Taking: It takes too much time for deposits.
- Budgeting Purpose: There is no budgeting function in it.
- Customer Support: The IPN customer support service is not really good.
- Unable to Open Recurring Payments: Takes time to load the page to enter payment processing information.
What is the Pricing of the Intuit Payment Network?
QuickBooks Payments is mainly known as the Intuit Payment Network that offers you two main pricing options, which are described below.
The Pay-as-you-go Plan
This plan is suitable for small businesses and new startups with low or inconsistent sales volume, as it has no recurring monthly fees.
How it works: You have to pay a higher percentage fee on a per-transaction basis.
Monthly cost: The monthly cost can fluctuate as it is based on your sales, so you have to pay nothing if you have no transactions in a month.
Good for: Small-sized companies with inconsistent sales volume.
The Monthly subscription plan
This model is more cost-effective for the businesses that are pre-established, going well with the market, and process a high volume of payments. You pay a set monthly fee, by which you can save enough money.
How it works: You pay a fixed monthly fee, and QuickBooks gives you access to the discounted rate for every transaction.Your payment processing costs.
Monthly cost: There is a recurring monthly fee for the subscription, which you have to renew every month.
Good for: Established businesses that process a lot of payments and want to minimize their per-transaction costs.
Features of the Intuit Payment Network
Intuit Payment Network is a payment processing service directly integrated into QuickBooks accounting software. Its features allow small and medium-sized businesses to enjoy a wide variety of payment methods, automate bookkeeping, and manage cash flows.
Payment Acceptance and Flexibility
You can have a wide range of payment options.
- Credit and Debit Cards: Accepts all cards, including Visa, Mastercard, etc.
- Automated Clearing House Bank Transfers: They allow customers to pay directly from their bank account, which has a lower transaction cost than credit cards.
- Mobile Payments: Intuit Payment Solutions accepts mobile payments like Google Pay, Apple Pay, and PayPal.
Cash Flow Management
The IPN network has features from which payment cycles can speed up payment cycles and also improve cash flow visibility.
- Automated Invoicing and Reminders: It sends automatic custom invoices and reminders so that you do not have to stay alert for the pending invoices or bills.
- Recurring Payments: Enable automatic scheduled payments for repeat customers that provide more predictable revenue.
- Real-Time Tracking: You can watch when a customer has viewed and paid an invoice.
- Cash Flow History: Provides you with a full history of the money flow, which is coming in or out of the business, which helps you in making further strategies.
Seamless Accounting Integration
The tight integration with the QuickBooks ecosystem is a key feature.
- Automated Bookkeeping: Automates the recording of the payments and matches them to the correct invoices. This eliminates manual data entry and the errors in the bookkeeping.
- Expense Tracking: It connects with your bank to track correct income and expenses correctly.
- Business Network: A feature for businesses to connect and streamline payments with each other.
Security and Reliability
Intuit’s payment network includes multiple security features to protect sensitive data, some of which are listed below:
- Fraud Protection: Employs technology to scan and block suspicious activity.
- Bank-Level Security: Intuit Payment Network uses secure cloud storage and high-level encryption so that no one can watch or use your data, which keeps your financial data safe.
Conclusion
In conclusion, Currently, Intuit payment network is known as QuickBooks Payment. IPN is the method by which businesses send or receive transactions electronically, which can help us reduce human effort. Provides numerous features and functionality from which a business can grow and stand out from the others.