Intuit integrates GoPayment m-commerce app with QuickBooks
Intuit has integrated its GoPayment mobile transaction processing application into the newest edition of its QuickBooks Point of Sale tracking and management suite.
GoPayment competes head-to-head with services like Square and PayPal Here; the GoPayment reader plugs into the audio jack of supported iOS and Android devices, enabling merchants to swipe or manually enter credit and debit card transactions, transmit receipts in email or SMS and leverage geolcation tools to calculate the correct sales tax. Intuit charges 2.7 percent per GoPayment swipe and 3.7 percent for a keyed transaction. Operator partners, including Verizon Wireless (NYSE:VZ) and AT&T Mobility (NYSE:T), offer GoPayment services to their subscribers.
Moving forward, merchants can store all GoPayment sales and inventory data in QuickBooks Point of Sale 2013. Users can also automatically populate inventory items within QuickBooks Point of Sale into the GoPayment app. QuickBooks Point of Sale 2013 additionally enables small businesses to track inventory and set automatic re-order points, manage customer contact information, track employee hours and commissions and integrate retail hardware like receipt printers, barcode scanners and cash drawers. QuickBooks Point of Sale 2013 software starts at $1,099.95.
Intuit processes more than $21 billion in annual transactions for approximately 300,000 small business partners. The company's business and financial management services also include Quicken and TurboTax.
"While Square is clearly the poster child of mobile card capture, Intuit is quietly laying the foundations to become a behemoth in mobile payments," said Yankee Group Senior Analyst Nick Holland. "One huge advantage Intuit has over the competition in the U.S. is its reputation in small business account management via products such as QuickBooks and the already high degree of penetration within a customer base that would be perfect candidates for credit card capture. The integration of GoPayment with QuickBooks is no great surprise, but it opens the floodgates for small businesses to take card payments and track them to the degree that is necessary. This is very likely to be a winner, requiring Square and their ilk to up the ante."
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