New QuickBooks Card Reader Speeds Up Mobile and Contactless Payments
How your clients will accept payment is perhaps one of the most important decisions a small business can make – and there are a lot of factors that go into managing the variety of ways their customers want to pay.
Aug. 03, 2021
Any small business client that sells a product is likely to ask you for your advice on how they can get paid faster and more efficiently, without dealing with invoicing and manual systems. And if you think about your clients’ businesses within the context of how you as a customer want to pay for a product or service, you can quickly see where mobile and contactless payment would be most beneficial.
Just imagine if a Girl Scout troop were to make available mobile, contactless payment for Thin Mints in front of your local grocery store, who’s to say the troop wouldn’t sell more cookies, especially because they accept credit cards and make the transaction easier?
How your clients will accept payment is perhaps one of the most important decisions a small business can make – and there are a lot of factors that go into managing the variety of ways their customers want to pay. Across the board, Intuit has heard from small business owners that they are increasingly looking for hassle-free payment hardware that enables faster in-person sales and the ability to get paid on the go.
The new QuickBooks Card Reader (https://quickbooks.intuit.com/payments/mobile/#readers) delivers on both, with fast and contactless payments processing, packaged in one sleek and compact device that fits in the pocket. Now that’s mobile!
According to Transparency Marketing Research (https://tinyurl.com/etsd94dr), the mobile payment technologies market around the world is expected to increase at a compound annual growth rate of 20.5% between 2016 and 2024. In addition, according to Juniper Research,https://tinyurl.com/ys2u5ne8) mobile point-of-sale revenue around the world is expected to reach almost $50 billion in 2021, up from $6.6 billion in 2016, and one in every three point-of-sale terminals will accommodate mobile.
The QuickBooks Card Reader is ideal for small business owners who recognize the need to enable contactless payment. Small yet powerful, the exclusively designed QuickBooks Card Reader makes it easy to accept payments on the go.
“As business goes increasingly mobile, having a way to process payments is critical, and just as e-commerce is starting to become ubiquitous, so too are mobile payments,” said Katie Bunschoten, president and founder of Certum Solutions, an executive-level QuickBooks Solutions provider. “Our clients’ love the simplicity of being able to take payments on the go and cut down any time spent waiting for payment.”
Bunschoten believes the QuickBooks Card Reader should be the de facto standard for any business that offers on-the-go payment.
“If you’re typically on a job site or on the road, mobile payments are critical. You have a much higher probability of immediate payment by taking a credit card on site, rather than sending an invoice and hoping for the best. Time is money, and when you have to wait or follow up to get paid, you are losing both.
Here’s what you can expect with the new QuickBooks Card Reader:
- An LED display provides clear reader status indications to small business owners and guides customers through the payment experience. Starting with a friendly “Hello,” it clearly displays the purchase amount, allows customers to add a tip, and confirms the payment.
- Tipping functionality means no sharing of devices, something that is often needed with other card reader and point-of-ale offerings. Small business owners have the ability to customize the three tip options for the customer that will conveniently display on the card reader, either as a percentage of the total amount or a flat dollar amount.
- Clear connectivity and battery level indicators give small business owners the confidence that they’re connected and ready to accept payments.
In addition to the features integrated in the card reader, QuickBooks is also introducing the QuickBooks Power Stand, which will give small businesses a portable countertop payments’ hub that can support their businesses – no matter where they are or where they go. The Power Stand battery wirelessly charges the QuickBooks Card Reader, and has an integrated USB port, offering the unique capability to charge USB-compatible devices such as a phone or tablet.
The newly designed Card Reader is backed by the power of QuickBooks and QuickBooks Payments, which helps small businesses get paid faster and more seamlessly. Payments are automatically reconciled within the QuickBooks accounting platform, ensuring books update with every sale so that your clients are always tax-ready and have a financial source of truth that can help them better manage their cash flow.
“It’s our mission to improve cash flow health for small businesses. With the addition of QuickBooks Card Reader to our portfolio of money offerings, we continue to make it easier for small businesses to get paid,” said Rania Succar, Senior Vice President of Intuit QuickBooks Money Offerings. “These industry-leading payment hardware solutions that pair seamlessly with the QuickBooks platform further enhance our robust end-to-end payments offering for small businesses and provide flexibility depending on how they do business and how their customers want to pay.”
Your clients who are QuickBooks Payments customers can now purchase the QuickBooks Card Reader for $49 on the QuickBooks website https://quickbooks.intuit.com/payments/mobile/#readers. The QuickBooks Power Stand will be available later this summer for $39, and both devices can be purchased as a bundle for $79.
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