Table of contents:

• Bank payments: A lower-cost, high-convenience option
• American Express: Expanding credit card options
• Benefits to using QuickBooks Payments
• Sign up for QuickBooks Payments today
• Frequently asked questions

Getting paid quickly and efficiently is one of the most critical aspects of running any small to medium-sized business (SMB).

As a business owner, you probably already know that being ready to accept a wide range of payment methods is key to staying competitive — whether it takes place online, on-site, or over the phone.

QuickBooks Online (QBO) Payments is constantly evolving to provide new and more flexible options for SMBs. While it currently allows businesses to accept payments via credit card and Apple Pay, QBO Payments is now introducing two new features: bank payments and American Express acceptance.

These additions will not only make it easier for QBO merchants to get paid, but also help grow the overall payments business.

Bank payments: A lower-cost, high-convenience option

One of the most exciting new features in QBO Payments is the introduction of a bank payments option. This allows customers to pay invoices directly from their bank accounts, offering a lower-cost alternative to credit card payments.

While credit card transactions are typically charged at 2.9% plus $0.25 per transaction, bank payments are available at just 1%, making them a more economical choice, especially for larger invoices.

Bank payments offer several other advantages over more common payment methods. For example, e-transfers often have daily limits, while bank wires require a significant time commitment and effort to process, including the requirement to show up in person at a physical branch. Wire transfers and e-transfers are also not automatically reconciled with invoices.

With bank payments, these barriers are eliminated, providing a hassle-free way to handle large transactions. Because QuickBooks automatically reconciles these payments, you avoid the manual process of matching them to invoices, further simplifying your accounting tasks and saving you time.

This feature is also available in French, making it accessible to a broader range of businesses.

American Express: Expanding credit card options

QuickBooks Payments already supports major credit cards, including Mastercard, Visa, and Discover. Now it has expanded its capabilities by adding American Express to the list of accepted credit cards.

American Express is widely recognized and preferred by many customers, particularly those who use the card for its rewards and benefits. Adding American Express as a payment option allows businesses to cater to an even broader customer base, enhancing the chances of getting paid faster.

The pricing for American Express transactions is the same as other credit cards — 2.9% plus $0.25 per transaction — making it a simple and consistent option for all your payment needs.

Benefits to using QuickBooks Payments

Using QuickBooks Payments allows you and your customers to stay effortlessly organized. Consider the following benefits of using this tool in your business.

Organize all your payments automatically

One of the standout benefits of using QuickBooks Payments is the ability to keep all your transactions organized automatically.

No matter what payment option your customers choose, QuickBooks records them all and matches them to the corresponding invoices, keeping your books updated in real time. This automated process saves business owners considerable time and effort, reducing the need to manually reconcile invoices with payments.

Create a seamless and simplified process

QuickBooks Payments is a tool designed to work hard for you. It makes receiving and recording payments as seamless as possible, allowing business owners to focus on growing their business rather than dealing with administrative tasks.

From generating invoices to tracking payments, QuickBooks Payments simplifies the entire process, making it easier to stay on top of your finances.

Generate instantly payable invoices

The ability to add a "Pay Now" button to your invoices is a game-changer for businesses. This feature allows customers to pay you directly from the invoice, eliminating the delays associated with traditional paper invoicing.

In fact, QuickBooks users who leverage this feature get paid 4 times faster, enhancing cash flow and providing more predictability in their business finances.

Offer valuable flexibility for your customers

With QuickBooks Payments, your customers can choose how they want to pay. This flexibility helps ensure your business can cater to customer preferences, offering them the right payment option at the right time.

Sign up for QuickBooks Payments today

QuickBooks Online continues to innovate and expand its payment options, making it easier for small and medium-sized businesses to get paid quickly and efficiently.

With the new features of bank payments and American Express acceptance, QuickBooks Payments offers exceptional flexibility and value.

Sign up for QuickBooks Payments today to streamline your payment processes and keep your business moving forward.