January 27th, 2012 
admin 
Intuit GoPayment New Technology
Who says you need a register or a storefront nowadays? Intuit GoPayment says you don’t!
Intuit, the makers of Mint.com, TurboTax, and Quickbooks; have developed a new phone business app called Intuit GoPayment. Intuit GoPayment is a free app and credit card reader which works on iPhone, Android, and Blackberry. GoPayment lets people take credit cards on their mobile phone anywhere and at anytime.
According to one of Intuit GoPayment’s customer videos (which can be viewed by clicking HERE) apparently you can use GoPayment for taking payment on your website as well. Sort of like PayPal, but I have not been able to find any information about that on the company website.
GoPayment offers two pricing options. One has no monthly fee but a higher per transaction percentage (2.7% for card swipes and 3.7% for manual entries) while the other option is to pay a monthly fee of $12.95 with a lower per transaction percentage (1.7% for card swipes and 2.7% for manual entries). Intuit suggests the second option for those small businesses that have a high volume of transactions.
So what does this type of technology mean for small businesses? Well, it certainly allows businesses to think outside the box and offer more services to their customers. It allows for mobile shops and services. It allows for elimination of the need of a storefront, which lowers overhead costs. Small businesses can also offer services of going to their clients instead of their clients coming to them. This would be a time-saving perk for consumers as time is so precious nowadays. A traditional storefront can take their business completely mobile, which could be beneficial to both owner and client.
To open an account with Intuit, you do need a merchant ID. So this is not something the average person can use to just get money from friends. I know that Chase Bank has such an app, but this is not how GoPayment is designed to work. It really is for small businesses. Also, with GoPayment, you can link your account to Quickbooks so that each transaction is automatically logged. This saves time for the business owner having to log each transaction of payment manually into their Quickbooks account.
In all, based on my research, it looks like Intuit GoPayment is a great way for small business owners to get ahead and even take their business to a new level and think outside of the box as far as services offered. If you are in need of a mobile payment processor, it looks like GoPayment is a great one to try out. And if you do, be sure to come back to this post and give us your feedback on the app and device!
For information on more business apps, go to our apps page bye clicking here.
Until next time!
Tula and Rex
