
- Sales Experience
- Rates
- Fees/Contracts
- Complaints/Ratings
- Support
Intuit, Inc. was founded in 1983 by Scott Cook and is headquartered in Mountain View, California. They originally started as a software company that offers tax preparation and accounting software, namely TurboTax and QuickBooks. It wasn’t until 2003 that they acquired “Innovative Merchant Services” and began offering credit card processing solutions. Unlike most Merchant Service Providers, Intuit is very upfront with their rates and fees, even their non qualified rates, which is good for any business who wants to know exactly what to expect before setting up a merchant account.
Intuit is accredited with the Better Business Bureau and has an A+ rating with them. Over the past three years, they have had 1268 complaints filed against them, with 497 closed within the past twelve months. 96 of the customers whom filed complaints felt that the response they received was unsatisfactory. One of the complaints filed the Better Business Bureau found that Intuit did not make a good faith effort to resolve the complaint. The majority of the complaints filed cited advertising/sales issues as well as problems with product/service. The large number of complaints can be a little misleading as it covers Intuit as a whole, meaning complaints could be filed for other products/services they offer like TurboTax. Intuit does not let you read the complaints filed so it’s impossible to tell how many of those complaints were filed for their credit card processing services.
Intuit puts a lot of their advertising emphasis on their GoPayment solution. GoPayment lets a business take transactions using their mobile device that works on Android and iPhones. They made a very strategic partnership with Verizon Wireless who now offer the GoPayment device in their retail locations. Not only that, but Verizon also advertises Intuit’s e-commerce solutions on their small business center website.
Verizon is one of the leading wireless and small business solution providers in the United States and the partnership put Intuit Merchant Services on the map. Intuit is also the only Merchant Service Provider that has true integration with QuickBooks so if your business relies on QuickBooks, this should be kept in consideration.
For GoPayment, Intuit offers a solution for both low and high volume merchants. For low volume merchants, they offer a 2.7% swiped rate and a 3.7% keyed rate with no monthly fee. For higher volume merchants, they offer a 1.7% swiped rate and a $2.7% keyed rate with a $12.95 monthly service fee. For more traditional retail locations using a regular credit card machine, they offer a qualified rate of 1.64%, with a keyed rate of 2.47% and a non-qualified rate of 3.91% with a $12.95 monthly service fee. These rates are comparatively very high. Most Merchant Service Providers can offer a lot lower rates, so even though Intuit is very simplistic and forthcoming about their fees, chances are your business could get a lot lower rates elsewhere.
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They are the slowest and highest cost processor. Tons of hidden fees and high rates. Very poor customer service. Terrible customer service and very error prone. USE A DIFFERENT COMPANY!!!