March 1, 2006

Process Credit Cards with Intuit QuickBooks Credit Card Processing Kit

Intuit continues to push out new, simple, low cost products to make it easier for smaller business to manage (and hopefully GROW) their businesses. The latest product is the QuickBooks Credit Card Processing Kit which enables the processing of credit card transactions under $5,000 in total per month.

The kit costs $40 and includes software you need to process credit cards from your computer. According to Intuit, the kit includes everything a small business needs to accept Visa, MasterCard, American Express, Discover and Diner¬?s Club credit cards and signing up takes less than 10 minutes. There are no manuals to read, no long term contracts to sign, and small business owners are not stuck paying expensive monthly minimums.

The service costs $15 per month. Plus fees of 1.79% for Card-swiped and 2.69% for Key-entered: 2.69% and a Credit Card Per-Authorization Fee of $0.30.

Each business day, your transactions are sent to QuickBooks Merchant Services for processing.

Within 2 to 3 business days, the funds will be released and deposited into your bank account. Transaction fees are debited at this time.

Each month, you will receive a statement with your account activity.

Another service that I've used many times and like very much is PayPal. It has a range of credit card processing options including "merchant" services which enable you to process credit cards from any Internet connected computer.

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