7 Ways You Can Build Residuals Selling QB Payments

Carrie Kahn QuickBooks Payments 4 Comments

There is a huge untapped market for accounting pros to get in on the action in the world of credit card processing. While you are not in the business of selling merchant services, you now have an awesome feature to offer. Many customers are unaware that QuickBooks Payments integrates with their software making this a no-brainer. You should be offering this to every single client you sign up for software. Coaching your clients on the right tools to run their businesses efficiently and effectively will allow you to provide superior service and allow you to build a residual income. The good news is you don’t have to “sell” your clients, you are their trusted financial consultant. You should share the benefits of QuickBooks Payments features and how their user-friendly capabilities will help make their business run smoother and more efficient, giving them more freedom to focus on the aspects of their business they love.

Here are 7 of our top reasons to introduce QuickBooks Payments to your clients and get them signed up ASAP:

1. Simple to understand pricing. The two-tiered pricing plan keeps fees to a minimum, and with QuickBooks Payments there is never a contract, monthly minimum or termination fee. If you are just starting out, you can choose the pay-as-you-go plan with no monthly fee and only pay when you accept payments. If you have more processing needs, the low monthly fee allows you to have a lower rate tier. We recommend choosing this option if your monthly processing needs are greater than $3,500. Click here to check current rates. The client can choose what’s best for their business.

2. Clients get paid faster. People who use QB software with Payments get paid on average twice as fast as those who don’t. It’s simple as you can email invoices with a Pay Now Link and accept online payments via credit cards, debit cards, and ACH bank transfers. They can also accept mobile payments to be paid on the spot with their iPhone, iPad, or Android device. In addition, you can process payments right inside your QuickBooks data file.

3. Everyone loves the convenience of emailing invoices with a Pay Now Link. Customers can make instant payments online or mobile payments. A notification is sent to the client when an invoice is opened and also when the invoice is paid. This eliminates waiting for checks in the mail.

4. QuickBooks payments have packaged all the payments tools into one bundle. They include merchant service, e-Invoicing and Go Payment. The beauty of this is that you don’t have to go to three separate websites to download and reconcile your payments and deposits. They are all batched together ready for you to record. This is a huge new time-saving feature you and your clients will love!

5. Huge Time Savings. Take into consideration the time-saving and reduction in mistakes when using an integrated product. Invoices and payments are automatically reconciled. QuickBooks auto-updates invoices and your books when your client gets paid. The reconciling is done for you, eliminating the most time-consuming task of manually matching payments with invoices and reconciling with the bank statement. This feature alone saves significant time and you look like a HERO to your clients!

6. QuickBooks Payments accepts all major credit cards and debit cards. AMEX, Visa, Master Card, Discover, ACH Bank Transfers, and rewards cards are accepted without complicated pricing. All are the same rate, swipe or keyed with QB Payments. There are no longer any penalties for accepting American Express or rewards cards!

7. Spread the word. Tell clients about the benefits of the QB Payments free e-Invoicing and Go-Payment features early in your discussions. Since this feature is built right into their QuickBooks software, they can activate it easily without you getting credit for your recommendation! To avoid this you must submit a QB payments lead and ensure they activate their account through CBS. Remember the only way to secure our lower rates for you or your customer is if we register the lead for you and let the payments team close it!

While you can share that we have the best rates, no monthly fees and offer to review their current rates, they should discuss actual rates in further detail with the payments team directly. If your client is interested in reviewing their current rates to ensure they will get a better rate with QuickBooks Payments, gather the last three merchant statements and we can submit them when we enter the lead. Many clients believe their rates are lower with their bank or other merchant service company. Even if your client thinks their rate is lower, our Payments team can offer a complimentary analysis to evaluate their last 3 statements to see if it will make sense to switch over to QB Payments.

We want your client to have the lowest rates available. Remember even if the rates are similar, the benefits of integration should be the tiebreaker. QB Payments is safe, secure and risk-free. There are no contracts and no commitment.

How can selling QuickBooks Payments to clients increase your income while you sleep?

You have the opportunity to add QuickBooks payments to be paired with the client’s software, if you don’t, you are leaving money on the table. You could be generating a passive revenue stream in as little as a few months. One of our current partners got their client approved for QB Payments in December 2015 and her first commission check was $464 for ONE month of merchant service residuals!!! She made over $5,000 in 2016 just for adding QB Payments for her client. That is only for one customer. Imagine the residuals that you can build over time. While not all of them are this large, this demonstrates the power of passive income and not leaving money on the table.

By simply introducing and pointing out the features of QB Payments and coaching your clients on the importance of them, you are continuing to build a lasting relationship based on your trusted expertise and genuine desire to see them grow their businesses. We are here to support you and your clients, always.

Get answers when you need them from Team CBG or with our payments team experts. Contact us to schedule a consultation to review your account rates or get you approved for a new merchant service account. Or you can Apply Now.

Comments 4

  1. Hi Shelly. Thanks for your question. Yes. QuickBooks Payments is available to work with all QuickBooks Software products.

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