Intuit Makes Mobile Credit Card Acceptance Easier

Intuit^TM has had a service on the market for about a year and a half called “GoPayment^TM” credit card processing. There has been an app for the iPhone^TM, PC, and other other smart phones for GoPayment for some time, but they all lacked the ability to swipe the credit card. Recently Intuit partnered with Mophie to provide a complete mobile solution that allows swiping.

 

Swiping an actual credit card is valuable to both merchants and credit card processors because it reduced fraud and reduces losses credit card processors have as a result of disputes. A number of other companies make Bluetooth enabled credit card swiping hardware and printers, but the Intuit / Mophie solution is a complete, affordable solution for the kinds of business owners that would like to accept payment by credit card in the field.

 

The kinds of businesses that immediately come to mind are those that travel to a home or business and provide a service that they expect immediate payment for. Businesses like pest control, locksmiths, and grounds keepers come to mind. Other kinds of businesses that this solution could fit are the kind that sells at arts and crafts shows, country fairs and places where electricity may be hard to come by.

 

What makes the Intuit solution so attractive to small businesses is the ease in which everything can be set up. Simply go to an Apple Store^TM or Apple.com and buy the hardware that neatly fits around your iPhone. Download the free application from iTunes, fill out Intuit’s online paperwork and you are ready to go. The up front hardware solution retails for $179.95.

 

Here is a photo of the solution attached to the iPhone

 

 

 

When a customer hands you their card, you can swipe it right in front of them, add the items you are selling, and the iPhone touch screen even has a place for the customer to sign authorizing the payment. Receipts are emailed to the customer and data from the transaction nicely integrates into QuickBooks^TM. If you have to mail a receipt you can reprint one out of QuickBooks and send it that way.

 

Transaction processing is affordable with GoPayment, though if you process many transactions in a brick and mortar location you may be better off going with a large merchant processor.

 

The pluses of the Intuit’s solutions are:

 

• No long-term contracts
• $12.95 per month flat fee
• 1.7-3.7% of each transaction depending on volume
• And $0.30 to $0.40 per transaction
• Easy set-up and approval
• Integration into QuickBooks

 

The solution is perfect for small businesses that want the ease of a single complete credit card processing system that is mobile.

Sam Thacker is a partner in Austin Texas based Business Finance Solutions.

You may contact Sam directly at: sam@lesliethacker.com

or follow him on Twitter: SMBfinance

 

EXTRA: If you have questions for Sam regarding business financing, the credit market, and similar issues, please send an e-mail. Your questions will be recorded and Sam will answer the best ones in his Ask the Expert podcast show.