PaymentCollect® Does the Little Things Your Business Needs

Our customers tell us that PaymentCollect® has helped their business in unexpected ways. From customer service to optimization, our goal is to make your job easier while taking care of every little detail.

Helping You Minimize Mistakes

Merchants frequently encounter problems with credit card storage systems and integrations, specifically those that allow any employee with access to the system to charge any credit card stored on file. When you store a credit card within the PaymentCollect® vault, that card can only be used to pay invoices for the customers it is assigned to at the time of storage. No more worries about employees charging the wrong credit card by mistake.

The world of online payments can be dangerous for merchants. Your customers need to know their credit card information is safe. PaymentCollect® always puts your security first with our industry-leading encryption. Once your customer enters their credit card information, no one can extract it, not even the PaymentCollect® team.

Doing Everything We Can to Save You Money

PaymentCollect® strives to build relationships with credit card companies to eliminate hidden fees that are associated with other providers. By being a full service company, it allows us to cut out the middle man that other providers will direct you to, which is where many of our cost savings come from. 

Because of the way credit card fees work, it is often less expensive for you as a business if your customers pay with debit rather than credit. We understand that, and it is why every machine we ship processes PIN DEBIT.

What Else Does Our Full, White Glove Service Get You?

We know that each business owner has their own specific way they like to operate, and that’s why our PaymentCollect® pin pad machine comes in both wired and wireless options. Whether you are working five terminals with a pin pad connected to one computer (yes, you can do that), or taking the pin pad to a customer for a quick sale, we have thought of everything. 

You may be asking what the benefit of choosing a portable pin pad over a smaller, seemingly more convenient electronic payment system such as square. The short answer is that our solution is much less expensive AND gives you access to an entire cloud-based ecosystem that allows you to access our three products for QuickBooks® Desktop, Online, and POS.

We have mentioned that our systems accept all payment methods, and that even includes gift cards. PaymentCollect® will also make gift cards for your business and take care of implementation and tracking. 

Choose PaymentCollect® as your electronic payment system provider, and all the tools you will need to process credit and debit cards for your business are just a phone call away. Our North Carolina-based support teams of IT professionals and certified QuickBooks® ProAdvisors are the best in the industry when it comes to payment technology. When we said we weren’t a one-trick pony, we weren’t kidding.

We Deal with the Payment Processing Technology, So You Don’t Have To

In the world of payment processing technology, things move quickly and sometimes that can be overwhelming. PaymentCollect® is here to take away that unneeded stress. That’s why we want you to be able to understand what we can do for you, without getting lost in the complicated details.

How Does PaymentCollect® Save You Money? 

Credit/Debit card payments have multiple components to the amount they charge merchants. One of those components is a common cost (same to all Merchant Service Providers collected by the Credit Card companies such as Visa, Master Card, Amex and the others.) The second is a variable cost, determined by the Merchant Service Providers (MSP) for your account. The last one is on a per merchant basis and is the MSP’s revenue.

Long story short, our relationship with Credit Card companies allows us to cut costs and save you money. Since PaymentCollect® does not have any commissionable agents and our costs are mostly fixed, we can offer merchants a reduced processing cost.

What Will PaymentCollect® Do For You?

You have probably heard us use the term “Integrated Plugins”, but what does this really mean? Integration allows you to manage all your payment processing, vault, and reporting tasks all in one spot! You don’t need to process the payment using an external device or portal and then re-enter it in QuickBooks®, it all happens simultaneously, from the same platform! PaymentCollect® ensures everything happens seamlessly and transparently from within QuickBooks®, making you less prone to making mistakes and gives you more time to put back into your business! 

Integration also comes into play with our Shopify Plugin. With other providers, your QuickBooks® and your Shopify systems are unrelated. With PaymentCollect®, these systems work together to efficiently control inventory. This means that information from both your in-person sales, as well as your online sales will conveniently be analyzed together.

The Difference Between Products

You may be thinking that you need to add electronic payment options to your business, but you’re not sure where to start. That’s okay, we know the terminology can be confusing, so here’s a breakdown! 

With PaymentCollect®, there are three different products that can all help your business – Point of Sale, Desktop, and Online. Each product designed to work with a specific QuickBooks Solution®. There are of course multiple options within each product, such as Taking NFC payments, receiving payments online, shopping cards and more. Contact us to find the right option for you!

Pros and Cons of Electronic Payment Integration

Any type of technology can seem unsettling to new users. That’s why PaymentCollect® and QuickBooks® are here to help you, so you can utilize the functions of electronic payment systems, like POS, Desktop, and Online plugins without feeling weary of downsides. Whether you are an established business looking to make a shift to e-commerce or are a tech savvy entrepreneur looking to get your business off the ground, PaymentCollect® will help you save time and money, as well as help you organize your business. 

Explore the Benefits of Electronic Payment Integration

Geographically Expand Your Business by Using E-Commerce

Services like PaymentCollect® and QuickBooks® allow your company to become global. With the presence of an online store, customers can be reached all over the world! Visit our Shopify page to see how we can help your e-commerce thrive, and attract an additional, online customer base. This is especially important when shopping at traditional brick and mortar stores is not an option, and more consumers are resorting to receiving items from online suppliers. 

Desktop Software Provides Organization that is Lacking in Traditional Systems
One of the top benefits of choosing to integrate digital software into your business is the time you get back in your day. You no longer need to spend your time organizing receipts, juggling 100 open windows on your computer, or doing other time-consuming tasks. With PaymentCollect® and the QuickBooks® Desktop Plugin, financial data is captured and sorted for you. You also increase your productivity and workflow because QuickBooks® introduces streamlined invoicing and other accounting tasks. Adding PaymentCollect® to the mix allows you to run versions of QuickBooks® without expensive updates, as well as operate everything from one, easy to use window.  

Providing Good Customer Service and Improving Public Satisfaction with your Company


Stores that already have an e-commerce presence, know that cashless transactions are becoming ever more popular. When we are able to physically be in stores again, some of your consumers will still want a cashless transaction, especially during a global pandemic. In fact, some people will even avoid shopping at places that only accept cash. By purchasing the PaymentCollect® POS system, you can provide the contactless and cashless transactions your customers are looking for. 

Whether it be for safety, or convenience, your customers want to shop easily, with one click or a tap. By using PaymentCollect® and QuickBooks® across all platforms including your online store, as well as in-person POS systems, shopping at your business is seamless. PaymentCollect® offers faster credit card processing than our competitors, so you can give your customer the best experience possible. 

What are the Downsides of Electronic Payment Integration?

Now that we have talked about the benefits your company can receive, we want to address the potential downsides of electronic payment integration. The pros list certainly overpowers the cons, however we are aware of the common worries, and will work tirelessly to provide solutions. 

With so many softwares emerging, it can be hard to choose the right one. Small business owners do not want to be hounded by Merchant Service Providers soliciting their business on a daily basis with empty promises of lower fees, transparency, and the best in-class integration software. With other electronic payment options, the service providers are working in their best interest, not yours. However, with PaymentCollect®, our lower price does not come with hidden fees and there are no undisclosed price increases. 

Another potential downside is that the technology of electronic payments could be overwhelming when getting accustomed to them. The best thing about our service is that it has the opposite effect. Using PaymentCollect® will actually make your QuickBooks® easier to use. We do not introduce new windows, and we allow the capability for software data to feed into each other without manual information transfer. We mirror QuickBooks® functionality as closely as it gets. This lowers the learning curve for merchants and their staff.

Lastly, business owners may be reluctant to make the switch because of the costs associated. However, PaymentCollect® allows you to operate on any older version of QuickBooks®, so you do not need to invest in pricey updates, which will save you money. With PaymentCollect® you will also save money due to the elimination of hidden fees from credit card companies.

We want to make it easy for you to choose PaymentCollect®, so our support team is happy to assist you with any questions or concerns you may have. 

Contact us today to capitalize on the use of e-commerce and electronic payment systems. 

Electric Payments Merchant Spotlight – Integrate your Shopify Store

E-commerce services like Shopify and QuickBooks® allow for businesses to reach a larger audience which is especially important when walk in traffic is limited. When you choose PaymentCollect® to help these services work together, growing your online presence is easy. 

QuickBooks® and Shopify Assets and Financial Data all in One Place
PaymentCollect® allows you to multitask, without even realizing it. When you own a business that operates with e-commerce, there are a variety of responsibilities, from credit card processing to invoicing and more. Data and information seems to be flying around, and could get overwhelming. Luckily, PaymentCollect® is a software plugin that integrates with multiple processors and hardware, that will pull data from all platforms, and organize it all in one place! The work of manually sorting and adapting your data to Shopify is no longer needed! Imagine what you could do for your business with that extra time on your hands?


Inventory Synchronization Improves your Customer Service
In a time when customers can receive things lightning quick, inventory turnover can be an important factor in sales. With PaymentCollect® it is easy and convenient to keep track of your inventory, so you can avoid costly out-of-stock supply chain errors.


Our Goal is to Make Ecommerce as Easy as Possible for You
We all need some support when things get overwhelming. By helping you integrate and unify all of your QuickBooks® and Shopify plugins, PaymentCollect® allows you to manage your electronic payment systems with confidence. All of these platforms may do different things for your business, but PaymentCollect® allows them to communicate seamlessly with each other. 

The best part is that there is no need to upgrade to QuickBooks® POS v.19 to leverage e-commerce; we integrate with all versions back to 2010!


Process all payment methods, organize receipts and invoices, manage QuickBooks® online payroll, use Shopify in the most beneficial way, and explore more features that will make your life better. Collect on that with PaymentCollect®.


Streamlined Invoicing and Tasks to Help Your Small Business

If you are a small business owner, we know you work hard around the clock to ensure your business is running smoothly. Aspects such as online payroll and managing electronic payments should not have to add to your stress or affect your customer service. With PaymentCollect® and QuickBooks®, administration tasks are easy and seamless so you can focus on the art of your business

Save Time when we Work Together

By working with PaymentCollect®, there are a variety of features that will save you time and money as a small business owner. For starters, QuickBooks® Online Integrated Plugins allow payments to be triggered from within QuickBooks®. Information is posted back all in real-time, making it easy to save time and reduce mistakes. PaymentCollect® will then organize and sort receipts so you have everything in one place! Choose between batch or single invoicing to help you manage your electronic payments. You can even safely store credit card information for the next invoice!

Avoiding Cons of Electronic Payment Systems by Protecting You and Your Customers

In an age where digital technology is growing so quickly, it is normal to be concerned about security. At PaymentCollect®, we put your personal needs first. Our Privacy Policy ensures that our credit card processing is done securely and safely, so information stays private. PaymentCollect® can also help you reduce fraud by implementing an out-of-scope payment terminal.

PaymentCollect® is Here for You With Around the Clock Customer Service

Nobody can be expected to be knowledgeable about everything, that’s why we always have answers for you, in real time. If you have any questions about processing payments, we are here to help. 

Visit our support page to send a question, pick up the phone, or view our frequently asked questions. Our talented representatives are happy to guide you. PaymentCollect® offers support software downloads, to ensure we don’t take up too much of your precious time. 

PaymentCollect® and QuickBooks® make it easy for you to focus on the things that matter to your business.


It’s Easy to Choose PaymentCollect® as your Electronic Payment System

Are you Tired of QuickBooks® Unnecessary Software Updates? 

Merchants commonly use the QuickBooks® enterprise because it’s familiar, relatively inexpensive and popular. We love QuickBooks® Plugins, however, what we do not love is the constant upgrades required in order to keep using Intuit Merchant Services. PaymentCollect® wants you to continue using QuickBooks®, while also using our software to cut down on upgrade time and costs. 

With PaymentCollect®, you will keep the merchant services account, and your QuickBooks® Plugins. We are simply here to help you run QuickBooks® without any upgrades, provide you immediate customer support, and become the “brains” behind your transactions.
With our program, not only are there no hidden fees, but you will SAVE on your current fee spending, which makes PaymentCollect® the perfect software to run along-side QuickBooks®.

Nothing Changes for You, Except for the Good Things 

You may be wondering about the transfer of information or other start-up inconveniences, but the best thing about the PaymentCollect® structure is that it is fully integrated into your QuickBooks®. With easy-to-use software and no extensive training needed, we can immediately start helping you be more efficient. 

Your customer’s payments are captured in QuickBooks® in real-time, so you do not have to worry about a thing.

Save Time When We Work Together 

PaymentCollect® helps you manage your e-commerce and in-store POS payment systems by introducing streamlined invoicing to your QuickBooks®. Accepting all methods of payment such as credit card, debit card, and gift card, our software will organize your receipts in a way that is convenient for you. 

Fully integrated means that our tool hub allows QuickBooks® to enable transactions, generate reports, troubleshoot issues and minimize input errors, all while you get to focus on your business.

What do you need to get up and running with PaymentCollect®?

We want to make it as easy as possible for you to choose PaymentCollect®, so we have created this quick checklist of things you will need;

  • Windows computer with enough storage 
  • Your preferred QuickBooks® software installed
  • Strong internet access

That’s all! There is no reason to wait any longer to get the results and efficiency you have been looking for.

If you are ready to save 25 – 50% on your current processing fees, do more with your time, and provide great customer service, then make the quick and easy decision to use PaymentCollect®.

Get up and Running with PaymentCollect ® and QuickBooks® in 2021

QuickBooks® Desktop 2021:What to Expect?

Organization and efficiency are effortless with QuickBooks® Desktop Plugins. QuickBooks® makes it painless for businesses, freelancers, and accountants to process their electronic payments with ease! Whether you are getting paid, or paying others, you can do it all from your Desktop. With QuickBooks® Pro, you can do less data entry (who doesn’t love that) and organize receipts in a way you will love. Get the desktop accounting software 94% of users would recommend to a friend *(quickbooks.inuit.com)

Accounting no longer has to be dreaded, with QuickBooks® Desktop, you can manage all of your accounting and electronic payments in one user-friendly place. 

Take your QuickBooks® Anywhere you go with Online Integrated Plugins

Use QuickBooks® on any of your devices to make workflow faster and more efficient so you can save time. There is even a mobile app so managing your payments is more convenient than ever. With QuickBooks® Online Payroll, you can take the pain out of administration payroll tasks. You don’t have to worry about slow processing times and tedious work because QuickBooks® allows for batch invoicing. 

With online payment processing your business can save on Inuit merchant services and accept any and all payment methods such as Credit Card, Debit Card, and Gift Cards. Payments are triggered from within QuickBooks® and information is posted back. All in real time! Online integrated plugins support all QuickBooks® functionality including sales receipts, invoicing and receiving payments. For all of your needs, QuickBooks® Online has you covered.

Helping Merchants with their In-Store Transactions

Fingers crossed that things will be getting back to normal, and when they do PaymentCollect ® and QuickBooks® will help you with your in-store transactions! Your business will have access to Level II Payment Processing (through the use of EMV terminals) — QuickBooks® POS plugins allows for real-time payment processing and inputs the data into your QuickBooks® account while automatically creating and categorizing receipts. 

There is a reason businesses are changing their operations from cash registers to Point of Sale terminals, and QuickBooks® is the best you can get. By using QuickBooks® POS integrated plugins, your customer service will be more than satisfying. We bring the technology, and you bring a smile to greet your customer with.

Choose PaymentCollect ® and Operate your QuickBooks® to the Best Capacity

Some may ask where our services come in, well PaymentCollect® increases your QuickBooks® functionality, and seamlessly ensures all of your information is protected and connected. By using PaymentCollect® services, your business is able to operate on your current QuickBooks® software, without paying for expensive upgrades! Our goal is to save you time and money, so you can focus on the things that matter. 

The access to human connection is another reason to choose PaymentCollect ®. Our customer service is reliable and always provides you with a real person to talk to. If you have questions about any transactions or payments, we are here for you.

What Does E-commerce Look Like in 2021?

Electronic Payment Systems: Moving Beyond Cash, Checks

Through 2020, the world has seen an increase in consumers turning to e-commerce and electronic payment methods. Did you know that Forbes magazine says there has been a 149% increase in US and Canadian online retailers since April 21st, 2020? Along with that, shopping at small and medium-sized businesses are becoming more popular. With the online payment methods that PaymentCollect ® supports, local businesses have the ability to successfully explore a digital space. With a new year upon us, e-payments will further advance and change to the current situation. Here are the upcoming predicted e-commerce trends for 2021, and how PaymentCollect ® and QuickBooks® Plugins can help your business stay current and efficient. 

Creating a Personalized E-commerce Experience 

Users have moved away from generic experiences, and everything is beginning to be more customized and personal. This includes the experience consumers are looking for when using online customer service. Personalization can include product recommendations, human interactions, and helping customers achieve their goals. With fully integrated online plugins, PaymentCollect ® and QuickBooks® can assist in providing the personalization you are searching for. With our POS Payment Processing, information reaches the user quickly, in real-time, making their experience specific to them. Also, by using PaymentCollect ®, your QuickBooks® receipts are organized to your preferences. If you have questions regarding ways to incorporate your business’s unique needs into your current QuickBooks® online systems, please contact us!

Providing the Best Electronic Payment Environment for the Customer

Over 50 million users are relying on electronic payment systems such as Intuit QuickBooks® to operate their businesses comfortably. With e-payments being such a large part of people’s lives, it is important for customers and business owners to feel safe. In 2021, security is everything, from your smartphone to your online purchases. PaymentCollect ® allows you to feel confident that essential information remains private during credit card processing and other online payment activity.

Advanced Speed and Workflow

According to Shopify, 10 years of e-commerce growth happened in just 90 days. As more users are seeking digital options to retail, the competition in the online space is growing. More brands are introducing online stores, which means consumers will have more providers to choose from. In order to make your business stand out, your software must be simple, and efficient in order to maintain the consumer’s attention. By choosing PaymentCollect ® you will have access to the new features in QuickBooks® Online Advanced Speed Workflow, including streamlined invoicing without upgrading your current system. QuickBooks® Desktop 2021 also offers more options to save time and boost productivity. We are always thinking about user solutions as we design our software, so you can focus on building brand loyalty from your beloved customers.

Choose PaymentCollect ®

Allow PaymentCollect ® to guide your business through 2021. We will be a partnership that is consistent, efficient, and will always keep your brand at the top of our priority list. You can feel confident that we are constantly studying the e-commerce trends, and will work hard to ensure your current systems are able to manage all of your electronic payments.

QuickBooks Credit Card Processing Reviews

No matter what version of QuickBooks Online you have, chances are it is an integral part of your business’ operations. Not only is Intuit’s software easy to use, but also, it’s ability to connect to hundreds of different integrations makes QuickBooks one of the most popular accounting softwares in the market.

One of the many integrations offered is QuickBooks credit card processing option, which is handled by Intuit Merchant Services. QuickBooks Payments allows business owners to process credit cards through the accounting software, which automatically updates their bookkeeping with the transactions. It’s important to note that Intuit offers different payment processing options, all of which are dependent on what version of QuickBooks you are using. You want to know the differences so you know exactly what product you are signing up for.

Drawbacks to Using QuickBooks Payments

High Fees and Lack of Cost Transparency

Credit card processing fees can quickly add up. And just because Intuit is not charging you a setup or termination fee does not mean you are saving money. In fact, the per-transaction fees are quite high. Every variation of QuickBooks Payments comes with its own pricing scheme, so it’s important that you know what you are going to be charged. Keep in mind; if your business processes more than $7,500 per month, you may be eligible for custom rates.

Find out the different pricing plans based on your version of the software here. In addition to per-transaction fees, swiped credit/debit fees, etc., your account may be responsible for other fees as well. For example, a chargeback fee or a returned check fee. In addition, if you opt-in for PCI compliance service, you will be charged $9.95 per month, or up to $100 annually for PCI compliance (monthly fee accounts). Other expenses include hardware costs and other opt-in features.

Lack of Customizable Invoices

This complaint tends to come up often from QuickBooks Payments users. In regards to customization, Intuit’s invoicing feature is not as capable as many merchants would like it to be. Other than including the customer’s name, products and/or services to be provided, and payment options, there’s not much more customization that can be done to invoices.

Alternative QuickBooks Payment Processing Option

If Intuit’s payment processing fees are too costly for you, it’s important to know that there are alternative solutions. One of them includes Payment Collect, which offers simple, transparent rates that can help lower your credit card processing fees. Payment Collect’s easy to use software seamlessly integrates with both QuickBooks Desktop and QuickBooks Online.

Payment Collect offers many features, including EMV compliance, acceptance of all major credit cards, and transactions post to QuickBooks in real time. In addition, Payment Collect shines where QuickBooks Payments lacks, as it offers customized reporting as well as lower and more transparent fees.

One significant benefit of Payment Collect is that it may help reduce fraud. Our out-of-scope payment terminal ensures that no credit card data passes through your computer at anytime. This can help protect your customers’ identities and private information.

All you need to get started is a Windows computer on which your QuickBooks product is already installed, configured, and licensed. A merchant account is required to run Payment Collect, but their support team can help you find the right one to suit your business’ needs.

For more information about Payment Collect, be sure to visit the support page to get answers to frequently asked questions.

Signatures No Longer Required for EMV Cards

Gone are the days of signing your name at checkout! As of April, MasterCard, Visa, Discover, and American Express no longer require merchants who are EMV compliant to collect and store signatures for POS transactions where a card is present. This decision moves away from a decades old ritual of using a signature as a form of authentication, and may be a sign of more changes to the credit card processing industry as technology develops.

What is EMV?

Named for the initials of its original developers (Europay, MasterCard, and Visa), EMV technology adds a stronger layer of security during credit and debit card transactions compared to traditional magnetic stripe cards. EMV-enabled cards feature a cryptogram, which validates the authenticity of the card. The cryptogram ensures that only the party that is supposed to receive the information (for example, the bank) has the key to decode the card.

The chip and the card reader ‘talk’ back and forth to authenticate the transaction. Magnetic stripe cards, on the other hand, simply ‘tell’ the card number and expiration date to the card reader. This is why data from magnetic cards can easily be stolen. Chip cards generate a unique code with every transaction, so even if someone were to obtain the authentication code, it would not work on future transactions.

With its use among merchants and banks in over 80 countries, EMV cards are seen as the global standard for both credit and debit card payments.

Do All Businesses Need to Stop Collecting Signatures?

While it is no longer a requirement for some merchants, it’s important to point out that others may need to still collect signatures. First, this new rule only applies to EMV transactions only. Merchants who currently do not accept EMV cards and other non-EMV transactions (like many restaurants) are still required to collect signatures.

In addition, merchants still have the option to request for a signature if they choose to do so. Payment companies, like Square, have no immediate plans to update their system to skip the signature step, so merchants who use Square and other similar payment companies may need to continue to collect signatures.

History of the Credit Card Industry

The end of requiring signatures is a huge change to the credit card industry as it has been a requirement since the industry was first founded. Since 1958, when BankAmericard rolled out its first credit card network with merchants, signatures were required in some way. Back in the days of plastic cards and carbon-copy receipts, merchants were required to verify a customer’s signature to the one on the back of the card.

As time went on, merchants stopped verifying signatures as often in hopes to speed up the checkout lines. While some merchants would ask to check the cardholder’s name against an ID, many others felt it was worth assuming the liability of chargebacks, as not checking the signatures made the purchase process more time efficient.

Reasoning Behind Changing How We Authenticate Payments

One of the biggest reasons for this switch is that advanced technologies are better at detecting fraud than relying on signatures. Advancements like machine-learning algorithms, which allow card networks to better detect fraud, and EMV cards, which are difficult to counterfeit, seem to do a better job at protecting against fraud than the old signature standard. According to a blog post on Visa’s website, Dan Sanford, the Vice President of Consumer Products, writes, “We believe making the signature requirement optional for EMV chip-enabled merchants is the responsible next step to enhance security and convenience at the point of sale.”

Another cause of this major change is the natural shift towards digitalization. Merchants and credit card companies had to find new ways to protect their customers against fraud that can be done online, like tokenization and biometrics, which further makes signatures obsolete. According to Total System Services’ (TSYS) 2017 US Consumer Payment Study, of consumers who use a banking or payment app, 69% were comfortable authenticating by passcode, with 63% comfortable using a fingerprint.

In addition to security purposes, major credit card companies believe that no longer making signatures a requirement will help more merchants switch over to accepting chip cards. According to research by Visa, as of December, there were roughly 460 million EMV cards and 2.5 million physical merchant locations that accepted chip cards. This new benefit to accepting chip-enabled cards is another reminder to get on board with the changing times. Especially because the initial switch to EMV compliant technology can be costly, this new incentive may help sway merchants who were reluctant to change.

Another reason for this major switch is competition. One of signature debit’s main competitors are EFT networks, which more times than not offers lower merchant fees. In recent years, EFT networks like NYCE and Pulse and Star have instituted ‘PINless debit,’ which no longer required customers to enter their four-digit PIN code. This PINless debit system offers a cheaper and faster transaction alternative (all with lower fraud rates) to merchants.

Many Large Retailers are on Board with this Change

Many retailers, including Walmart and Target, welcome this change. Austen Jensen, Vice President for Government Affairs at the Retail Industry Leaders Association, says that retailers have long argued that signatures are a costly way of securing transactions. This is because retailers have to store all of the signatures collected and present them back to the issuer, and needs to be done as safely as possible. Eliminating this step can potentially help consumers save money, as retailers can save on securely storing the signatures, which may result in lowering their prices.

In addition, many large retailers who experience long lines at checkout will be likely to stop asking for signatures, as many believe this will help speed up the checkout process.

As an industry leader, Payment Collect® was the first to offer EMV integration into QuickBooks Point of Sale, equipping merchants with the reporting tools they need to improve their business. These powerful tools give merchants quick and accurate authorization tracking, as well as eliminating guesswork if IT or network problems are encountered during processing. For more information about our payment processing technology, please visit our FAQ page!