QuickBooks Card Reader, a new innovative payment gadget built for today’s small company owners, is now accessible. The card reader is the latest fintech solution to assist small businesses to get paid faster, no matter how or where they operate, thanks to its integration with QuickBooks Payments, which processes more than $65 billion in yearly volume.
According to QuickBooks research released in April 2021, nearly half (47%) of small businesses have started processing payments using a new technique since COVID-19. Roughly half of the small businesses that accept contactless payments have only done so since COVID-19 was implemented (46%). Similarly, approximately a third of individuals who use mobile payment apps to conduct payments (30%) began during COVID-19.
Small company owners are well-positioned to respond to these trends with QuickBooks Card Reader, which allows them to speed up in-person sales, accept payments on the go, and instantly reconcile transactions in QuickBooks. Thanks to the reader’s capacity to accept card payments swiftly through insert, swipe, or e-wallets, customers can always check out quickly, and transactions are completed.
QuickBooks Card Reader distinguishes in the payment environment because of its creative design, feature set, and cost. It performed in-depth customer research to discover essential characteristics that small businesses want in a more frictionless payment experience. Other card readers lack built-in features such as a visual display and tips to clearly explain the reader’s status and payments in progress. QuickBooks Card Reader combines these powerful features in a lightweight, portable, contactless, and chip card reader – an industry first – to provide small business owners and their customers with a streamlined, transparent, end-to-end payment experience. Some of the unique features are as follows:
- An LED display guides customers through the payment process. It begins with a warm greeting before plainly displaying the purchase amount, allowing consumers to add a tip, and confirming the payment.
- Smart tipping functionality eliminates the requirement for device sharing, which is familiar to other card readers and POS solutions. Small company owners can also personalize the three tip options for customers that will appear on the card reader. The options can be expressed as a percentage of the total amount or as a fixed dollar amount.
- Thanks to clear connectivity and battery level indications, small business owners can be confident that they’re connected and ready to receive payments.
- Small business owners might feel confident that they comply because they are following mandates in some places that require them to show consumers the total charge amount.
- QuickBooks also released the QuickBooks Power Stand in the Summer of 2021, providing small businesses with a stylish and portable countertop payments hub that can support their business anywhere. The Power Stand battery charges QuickBooks Card Reader wirelessly and has an inbuilt USB connector that allows you to charge USB-compatible devices like your phone or tablet.
- When used in conjunction with the QuickBooks Mobile app, QuickBooks Card Reader provides small businesses with a mobile point-of-sale solution that can happen whenever and wherever they need to do business. Small companies benefit from the QuickBooks platform’s connectivity and range of time-saving tools across all QuickBooks Payments products, including features like immediate deposit for qualified transactions and QuickBooks’ built-in accounting.
- Intuit and its development partners built the QuickBooks Card Reader and Power Stand, including proprietary aspects for which design patents are pending. QuickBooks Card Reader is built on proven payment technology from BBPOS, and Box Clever was a crucial partner in creating the hardware.
- QuickBooks Card Reader is now available for $49 on the QuickBooks website for QuickBooks Payments clients. QuickBooks Power Stand will be available for $39 later this summer, and a bundle of both devices will be available for $79.
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