intuit payment network shutting down june 30th.

[George P.]

i had a thread on this a few months ago, but it's official now. the Intuit is shutting down and everyone has to move to their new system - merchant payment service.

http://support.quickbooks.intuit.com/support/artic...

i spent 30 mins with the rep on the phone and here are the details as I SEE THEM:

- tenants can't just log in and pay unless they receive an invoice that has a clickable link

- you can't send an invoice with a link if you do not have quickbooks (online or desktop)

- quickbooks costs $13 per month

- $.50 per transaction still applies.

i am upset because not only i have to learn quickbooks, but because the tenants have to get a clickable link from me. as of now, i NEVER send out invoices. . in addition, there;s a $13 per month charge.

[Daniel Chang]

Like you guys, I received the notice that IPN is shutting down and have been researching on different services to use.  I'm a commercial landlord and rent to businesses.  Some of the businesses who are regional or national will send me checks from their corporate office.  However, I have other businesses who are mom&pops and I have been using IPN for them.  To add my experience in speaking with Intuit CSR:

- Intuit Payment Network is completely going away

- The last date to submit a request for payment is 5/31.  It is completely shutting down 6/30.

- To use their new service einvoice, you have to have either Quickbooks Online or Quickbooks Desktop 2015/2016.  Any earlier version of Quickbooks will not have the einvoice feature (I happen to use 2014)

- Einvoicing will not allow you send people money, only receive.  Unfortunately I used IPN to sent money to some vendors/contractors.

- While they don't admit it, the trend is moving to Online and likely fading out Desktop.

This is my research into potential replacements (research only, no actual experience):

DWOLLA - looked promising, very similar to IPN, however recently got fined for lacking proper security measures.  To sign up with them requires both myself and tenant submit sensitive information like SSN/TIN and bank/routing.  This was a deal breaker.

Erentpayment - $3 per transfer.  Too expensive.  Loads of other features I don't use.  I rather just have tenants mail me a check in that regards.

Cozy.co - Too new.  Still seem to be working out kinks.  ACH transfer time too slow.  I'll give them a few years to standardize and mature. 

As I have commercial tenants, most of the sites set up for residential tenants don't really work for me.  I don't need their credit/background checks, leases, etc.  I just need a way for ACH payment.  I looked into Chase in the past, and it seemed to have a limit (I remember $5000).  Unfortunately, some of my tenant's rent are above this.  

Alas, I decided to just shell out the money to update to Quickbooks Desktop 2016 to use their einvoicing.  I am certainly aware that in 2-3 years, Intuit is somehow going to make me pay again.   Hopefully by that time, there will be a better viable option to switch to.

Of note:

If anyone is wondering, Quickbooks Online will allow one Tax ID Number per account. That means if you want to maintain separate books and have 2 LLC's, you need 2 accounts. Yes, that's a ripoff. That's why I'm sticking with the Desktop, which is 1 user license, but with it, I can create as many accounts/files as I want. But again, wouldn't be surprised if in 2-3 years, they are discontinuing desktop support.