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While the world awaits the era of mobile payments conducted without credit cards and via NFC chips within our smartphones, several interim solutions have popped up to make it easier to use our pocketable devices at the point of sale. One such solution is GoPayment from Intuit, which is now being offered in Verizon retail stores nationwide. GoPayment, in the same vein as Square, is designed to help small businesses and individuals process credit card payments using only a small reader device, a mobile app, and your smartphone.
Verizon will sell the GoPayment credit card reader for about $30, but a mail-in rebate reduces the eventual cost to free. The accompanying Android app is free, as well. Check out the press release below for more details.
Intuit GoPayment App and Credit Card Reader Now Available at Verizon Wireless Stores
BASKING RIDGE, N.J. & MOUNTAIN VIEW, Calif. – August 25, 2011 – Verizon Wireless and Intuit Inc. (Nasdaq: INTU) today announced a strategic alliance to give all small businesses – from the sole proprietor to a medium-sized business – the ability to process credit card payments on smartphones and tablets. The companies are now offering Intuit’s GoPayment app and pocket-sized credit card reader in Verizon Wireless’ 2,300 retail stores and business-to-business sales channels.
GoPayment makes it easier and more affordable for small businesses to process credit cards and for anyone who sells products or services to accept credit card payments wirelessly. The card reader simply plugs into the audio jack of a supported smartphone or tablet. Credit and debit cards can be swiped through the card reader or entered into the app manually. The transaction is processed immediately and funds are automatically deposited into a user’s bank account within a few business days. GoPayment supports devices on Android, BlackBerry and iOS platforms for most popular 3G and 4G LTE smartphones and tablets.
“Intuit’s GoPayment on America’s most reliable network is a mobile transaction game changer, and brings another dimension of must-have technology to the small business community,” said Mike Schaefer, executive director of the Business Solutions Group for Verizon Wireless. “Payments and transactions are often the biggest hurdle businesses face. Our value proposition is to streamline, simplify and enable business owners to get paid with minimal delay. This collaboration with Intuit is an important part of our strategy to bring the most innovative online and mobile tools to our customers.”
“Rather than lose out on potential business, anyone who sells a product or a service can now easily and affordably give their customers the option of paying with plastic,” said Chris Hylen, general manager of Intuit’s Payment Solutions division. “GoPayment is meeting a huge need and is one of the fastest growing mobile payment solutions in the market. With Verizon Wireless, we’ll help even more people discover that they too can process credit card payments on the phones or tablets they already own.”
To save time when processing payments, GoPayment offers the ability to create and sell from a list of frequently sold items. Depending on the types of goods and services sold, users can choose to apply sales tax, add tips and send customized receipts via text message and email with a map of where the transaction took place. To protect data, sensitive credit card information is never stored on the phone. The data is also encrypted – once via the card reader and a second time via the GoPayment app.
For the more than 4 million small businesses that use QuickBooks®, GoPayment can also sync transactions with recent versions of QuickBooks – PC, Mac and soon QuickBooks Online – to save time by reducing manual data entry. GoPayment also supports up to 50 users on one account, which is ideal for businesses with multiple employees who work in the field.
Pricing
Verizon Wireless customers can get the GoPayment credit card reader free with activation of a GoPayment account and a mail-in rebate for the $29.97 purchase price. The GoPayment mobile payment app is free and the basic service has no monthly, transaction or cancellation fees, and offers a competitive 2.7 percent discount rate for swiped transactions.
A paid version of GoPayment is also available for $12.95 a month and provides a low discount rate of 1.7 percent for swiped transactions. Intuit is offering Verizon Wireless customers two months of free service when they select this monthly paid plan.
Customers who purchase a smartphone for their GoPayment use will need to subscribe to a Verizon Wireless Nationwide Talk plan beginning at $39.99 for monthly access. Tablet and smartphone users require a data package starting at $30 monthly access for 2GB of data.
For additional information, please visit www.verizonwireless.com/gopayment or www.gopayment.com/verizon.
What’s with the iPhone?
Exactly!!!! What’s up iPhone here? Don’t they have Android phone?
maybe its a samsung galaxy s!
j/k
this is Kevin McAlister, the father. i’d like a hotel room please. with an extra large bed, a tv, and one of those little refrigerators you have to open with a key….
My hero
Notice how they fail to mention that the “paid version” most likely has a contract for the lower rates. Most of this is generally a gimmick as intuit is known for high fees and hidden print while locking you into a contract. The 1.7 will not apply to reward cards where the fees may easily be 3-4% or more. My suggestion is find a company without a contract and also has a free application and offers a mobile unit for swiping such as http://www.prestigemerchantservices.com.
Wow, it only took about a year or so and someone finally has some competition to Square. The transaction fee is essentially the same as what Square provides: 2.75%. The main difference is that Square still does not charge for the reader. Come on. If you want to be competitive, you have to at LEAST offer something better!
Why are they wanting you to pay for the card reader when you can go to the website and get it for free? After I read this post I had to check it out because I knew I had seen it adverised for free card reader and same per transaction charge.
Umm…no. Square sent me a FREE card reader. Intuit’s shooting themselves in the foot with this one. Oh well, too bad, so sad for them.
I don’t understand why Square, GoPayment and their rivals are falling over one another in their rush to get rid of the fixed transaction fees. Charging only a percentage fee means that they will be losing money on many small ticket transactions. I realize that right now they are mostly concerned with growing as quickly as possible, but this is a strategy that will inevitably need to be adjusted in the future. When that happens, the merchants that will be affected by such a change will not like it and push back hard against it. http://blog.unibulmerchantservices.com/gopayment-square-processing-fees-and-cupcakes