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Monday, March 18, 2013

Intuit launches its own mobile payment service for UK businesses

Business accounting software specialist Intuit has announced a new mobile-based payment system for retailers. It’s called Intuit Pay and has been designed to let UK businesses take card payments face-to-face and over the phone. The service combines a free iOS app and a chip & PIN card reader, which is also free at the moment.

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As with a number of competing services, there are no monthly fees; just a 2.75% charge per transaction. In addition, Intuit Pay will offer a connection with Intuit’s QuickBooks Online accounting system, enabling businesses to update their financial records automatically whenever they take a payment.

Terry Hicks, vice president of products for Intuit’s global business division, said “Intuit Pay solves an important problem for the millions of small businesses and trades people in the UK who don’t currently accept card payments and so miss out on sales or prompt payment as a result. Current solutions are either too expensive, demand long-term contracts or simply don’t work where businesses need them. Intuit Pay changes the game, providing an easy, low-cost way for anyone to accept card payments anywhere.”

Intuit Pay is supported by payment processing provider Global Payments.

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Author: The Fonecast
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