September 7, 2011
Verizon Wireless and Intuit formed 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 helps small businesses process credit cards. It also helps anyone who sells products or services to accept credit card payments wirelessly. The card reader 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.
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 four 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.
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 2.7% discount rate for swiped transactions.
A paid version of GoPayment is also available for $12.95 a month and provides a discount rate of 1.7% 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.