QuickBooks Debuts Card Reader For Streamlined SMB Payments

A new card reader product from QuickBooks is designed to help small- to medium-sized businesses (SMBs) get paid faster, according to a press release.

QuickBooks Card Reader allows SMB owners speed up in-person sales and get paid on the go. Their transactions can be automatically reconciled in QuickBooks, the release stated.

The new compact, contactless chip card reader can clearly communicate the status of the reader and payments in process, showing a visual display and tipping, according to the release.

Other features include an LED display guiding customers through a payment process, smart tipping functionality so that there’s no sharing of devices like with other card readers or point-of-sale (POS) offerings, and clear connectivity and battery level indicators to help the service run smoothly, the release stated.

“It’s our mission to improve cash flow health for small businesses,” said Intuit QuickBooks Money Offerings Senior Vice President Rania Succar in the release. “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. 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.”

QuickBooks also debuted QuickBooks Cash last year, a business bank account feature allowing SMB owners to manage finances. The offering includes a finance planning app to help plan for the future with a 90-day cash flow prediction and payment timing estimates.

The company also put out a debit card that allows users to spend with QuickBooks cash balances, and an Envelopes feature letting users set aside money for a specific purpose.

“QuickBooks Cash delivers what current business accounts don’t — a banking experience that enables small businesses to accept payments, pay teams and vendors — with automatic reconciliation for easy financial management,” Succar said at the time.