Quickbooks Compatible Merchant Accounts Can Save You Big $$
I just added a new client that uses QuickBooks Pro 2008 to run their transactions. They were setup with Quickbooks Merchant Services because they thought they had no other choice. Just to make sure that was the case they went searching on the internet and came across this blog. They filled out a form requesting a merchant account analysis and with 48 hours made the switch to Cocard Synergy as their merchant account provider. Why did they act so quickly? Here are the main reasons:
- We were able to lower their rates significantly resulting in a monthly savings somewhere between $800 – $1000 per month!
- We set them up with a plug-in that allows them to continue to enter their transactions inside of QuickBooks
- We guaranteed their effective rate would be 1.01% below their previous effective rate with QuickBooks Merchant Services.
- Our guarantee says if we miscalculated the savings we will refund the difference and lower their rate further to match our guaranteed effective rate.
You may be wondering if this is normal experience for merchants with Quickbooks Merchant Services and all I can say is from my experience this is pretty much the norm. In case your wondering what type of credit card volume this merchant had it was about $85,000 per month in Visa, MasterCard and Discover Volume. Now my company’s monthly profit on this deal is about $200 that means QuickBooks’ profit was somewhere between $1000 and $1200 per month!! Wow, that is just amazing!
So if you, or someone you know, uses Quickbooks and Quickbooks Merchant Services stop it! You are over paying for your merchant account services. If you want to start saving on your merchant account and still be able to process transactions through the QuickBooks accounting software fill out the same form my newest client did. I guarantee you will not regret your decision!

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I have seen some silimar situations where the Quickbooks merchant services, run through Innovative Merchant Services, were just not cost competitive.
We work as the part-time CFO for many start-up, emerging, and medium-sized companies. Some just think, like the client you just mentioned, that they have to use QuickBooks if they want to process the transactions in QuickBooks. As you identified, this is not true.
Thanks for the article.
Ken, thanks for the comment. It is nice to have my minority opinions confirmed once in a while.
I have had many business owners ask about compatibility w/ Quickbooks and were complaining that the Quickbooks integrated merchant accounts were not available in Canada yet. It’s good to know when it is available in Canada that Quickbooks integration is not what it’s cracked up to be if it costs hundreds of dollars more per month. Thank you for always providing top notch information.
Love the post about the iphone credit card processing and that the actual non-qual was at 3.79%. WOW! Tunnel vision will miss the fine print.
Sounds great. I can only find two plug-in providers that make processing from within QB possible. They both appear to be pretty expensive plug-ins (more expensive than QB itself). Is your company working with either of these software developers to provide a cost-effective package for QB users?