Mobile Payment Magazine

Report: Mobile Wallets in the US – Review and Analysis

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Mobile Wallets US ReportA new report entitled Mobile Wallets: The U.S. Landscape by Mercator Advisory Group identifies U.S. mobile wallets by category and technology.

The physical wallet might someday go the way of the checkbook, used by few and no longer a necessity. Growing consumer use of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for centuries but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. [Read more…]

Mobile Payment Strategies Report: Opportunities & Markets 2011-2015

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Mobile Payment ReportA new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.

The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]

Intuit GoPayment App to Be Offered by Verizon Wireless

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Verizon Wireless and Intuit Inc.  today announced a strategic alliance to give 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 makes it easier and more affordable for small businesses to process credit cards and for anyone who sells products or services to accept credit card payments wirelessly. The card reader simply 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.

“Intuit’s GoPayment on America’s most reliable network is a mobile transaction game changer, and brings another dimension of must-have technology to the small business community,” said Mike Schaefer, executive director of the Business Solutions Group for Verizon Wireless.

“Payments and transactions are often the biggest hurdle businesses face. Our value proposition is to streamline, simplify and enable business owners to get paid with minimal delay. This collaboration with Intuit is an important part of our strategy to bring the most innovative online and mobile tools to our customers.”

“Rather than lose out on potential business, anyone who sells a product or service can now easily and affordably give their customers the option of paying with plastic,” said Chris Hylen, general manager of Intuit’s Payment Solutions division.

“GoPayment is meeting a huge need and is one of the fastest growing mobile payment solutions in the market. With Verizon Wireless, we’ll help even more people discover that they too can process credit card payments on the phones or tablets they already own.” 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.

Source: PR Newswire

Intuit Acquires Mobile Money Ventures Mobile Banking Assets

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Intuit Inc. today announced it has acquired mobile Web banking technology assets from Mobile Money Ventures, or MMV, a leading global provider of next-generation mobile financial solutions.

“Through the successful joint venture of Citigroup and SK Telecom Americas, MMV has created the next-generation mobile financial services platform, providing customers anytime, anywhere access to their financial information on any device.”
[Read more…]

Girl Scouts Now Accepting Mobile Payments for Cookies

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This year, girl scouts may get a bump in sales as the young scouts offer a novel way for customers to pay for their girl scout cookes. Thanks to its new mobile payment solution, the Girl Scouts of North East Ohio (GSNEO) will be ringing up cookie sales by accepting credit cards on their mobile phones.

The scouts will be trying out Intuit’s GoPayment mobile payment app for processing credit cards. “For this generation of girls in particular, running a business and being able to take payments anywhere with mobile apps like GoPayment will become second nature. We’re eager to see how sales will increase now that they take credit cards with GoPayment.”

To celebrate the Girl Scouts upcoming 99th anniversary in March, Intuit Inc. has equipped the Girl Scouts of North East Ohio with its GoPayment mobile payment app, including a free Intuit credit card reader, and reduced pricing on transaction fees. GoPayment provides them with an easy and affordable way to process credit card payments on their mobile devices while protecting sensitive credit card information with industry-leading data encryption.

“We’re glad to put the latest mobile technology in the hands of America’s future business leaders to help them increase cookie sales,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “For this generation of girls in particular, running a business and being able to take payments anywhere with mobile apps like GoPayment will become second nature. We’re eager to see how sales will increase now that they take credit cards with GoPayment.”

“We’ve lost out on sales in the past because many potential cookie customers did not carry cash,” said Marianne Love, director of business services for GSNEO. “But that’s all about to change with GoPayment. For the first time ever, we’ll be able to say yes to credit cards and process payments quickly right on our phones. And now that people can pay by credit card, it will make it easier to buy a bundle of cookies to donate to U.S. Troops overseas through our Gift of Caring service project called Operation: Sweet Appreciation.”

Intuit has extended the offer to all Girl Scout councils across the country for a limited time.

GoPayment was introduced two years ago as one of the first mobile payment services on the market. It was designed to help people easily and quickly get paid via their mobile devices wherever they do business. To protect credit card data, GoPayment does not store data on the phone. Data is also encrypted via the GoPayment app and the moment the card is swiped using a supported credit card reader. GoPayment is available for iOS, Android and Blackberry devices.

Source: Business Wire

Square Lowers Merchant Transaction Fee

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As competition to sign up merchants heats up, mobile payment company Square has announced it will drop the $0.15 transaction fee that it had been charging customers. There will still be a charge ofz 2.75% of the transaction cost, but Square’s biggest competitor, Intuit GoPayment, currently charges 2.7% plus $0.15 per transaction, or 3.7% plus $0.15 if the credit card is entered manually.

via Business Insider.

Intuit Extends Free Card Reader Offer for GoPayment System

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Intuit has extended its introductory offer of a free GoPayment mobile payment app for processing credit cards, along with a free credit card reader and no monthly fee.

Intuit first made the offer in early January. Due to a high level of demand, Intuit will continue the offer indefinitely so that the smallest of small businesses, such as dog walkers, nannies and jewelry makers, can affordably start processing credit cards on their mobile phones. Since the initial offer, Intuit has more than tripled the number of customers signing up for GoPayment each day.

“With our original announcement of GoPayment’s free credit card reader and no monthly fee, we hoped to make it more affordable for any person in business no matter how small,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division.

“The strong demand we’ve seen confirmed our beliefs. We are therefore continuing the offer as we now know for certain that it’s meeting the mobile payment needs of both the person who makes an occasional sale to the hundreds of thousands of small businesses that have relied on us for years to get paid.”

GoPayment was introduced two years ago as one of the first mobile payment services on the market. It was designed to help people easily and quickly get paid via their mobile devices wherever they do business. GoPayment is available for iOS, Android and Blackberry.

GoPayment has no long-term contracts, cancellation, gateway or set-up fees, and up to 50 users can use a single account.

More information: GoPayment

Source: Business Wire

Intuit to Develop Mobile Payment App for Android 3.0 Honeycomb

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Intuit GoPayment, which lets anyone who sells products or services get paid via mobile devices, is one of the first mobile payment apps being developed for Android 3.0, Honeycomb.

Building on the capabilities of Honeycomb, GoPayment allows people and businesses selling products or services to process credit card payments no matter where they are–on the road, in a store or at their home.

GoPayment for Honeycomb lets users:

  • Take photos of frequently sold items – Using a device’s camera, save time by photographing products and storing details to create a visual product list to quickly take customer orders.
  • Drag and drop frequently sold items from a product list – Quickly complete a sale by dragging and dropping items into the shopping cart and easily add or delete items as needed.
  • Work within an easy-to-view, large-screen environment – Easily view transactions and work faster when processing payments on a tablet.
  • Find data quickly – Find items in a product list or locate past transactions using new search capabilities. Authorize transactions with touch screen signature – For added security and professionalism, customers can quickly sign a tablet’s touch screen to authorize their transactions.
  • Swipe cards within seconds – Save time and money by swiping a card instead of entering numbers manually with support for a variety of credit card readers. All compatible card readers also encrypt the credit card data for added protection.

“We are excited about bringing one of the first mobile payment apps to Honeycomb,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “We are continually looking to support the newest mobile platforms and devices so that more people can start taking credit card payments no matter where they are.”

Availability and Pricing

Intuit will publicly demo GoPayment for Honeycomb at Mobile World Congress in Barcelona, Spain, from Feb. 14 to 17 at the Android booth. GoPayment for Honeycomb is expected to be available this spring on Android Market.

The GoPayment app is free and offers various pricing plans including no monthly fees and a free Intuit Credit Card Reader for people who are just getting started. For those who frequently process credit cards, there is also a plan with lower rates for higher-volume processing. GoPayment has no set-up, cancellation or gateway fees.

More information: GoPayment

Source: Business Wire

Intuit to Offer Free GoPayment Mobile Payment Card Reader to Businesses

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Intuit plans to offer its GoPayment mobile payment service with a free credit card reader and no monthly service fees to business owners who sign up by mid-February.

“By offering a free card reader and no monthly service fees, we want to give more small businesses a head start in the New Year by enabling them to take mobile payments without any upfront investment,” said Chris Hylen, general manager of Intuit’s Payment Solutions division. “And this is just the beginning. We’ll introduce new ways all year long to help more small businesses get paid quickly and inexpensively using their favorite mobile devices.”

GoPayment is compatible with more than 40 popular mobile handsets and a range of credit card readers. This includes a free credit card reader from ROAM Data, which works on a variety of iPhone, Blackberry and Android devices, to make it easier for the cost-conscious new business owner to start taking mobile payments. There are also other robust, professional readers, including the new, sleek, form-fitting mophie credit card reader for the iPhone 4, for established businesses with higher processing volume. A list of supported devices is available at: www.gopayment.com.

Since GoPayment launched nearly two years ago, small businesses have processed nearly $80 million in mobile payments using the solution. And the mobile payments market is expected to grow significantly in the coming years.

“We expect the point-of-sale mobile payments market in the U.S. to grow to $55 billion by 2015, up from an estimated $1 billion in 2010,” said Gwenn Bézard of Aite Group. “Intuit is among the best-positioned providers to lead that market, because of its existing presence in acquiring, its accounting and personal finance solutions, and its trusted brand.”

Using GoPayment and a supported credit card reader, users can swipe and process credit cards within seconds instead of entering card data manually. Funds are then deposited into their bank account typically within two to three business days.

“GoPayment gets small business owners paid fast,” added Hylen. “We don’t have any arbitrary transaction caps that delay users from getting their money. Plus, we’re always there if you need us and have people available 24/7 to answer your questions so you don’t lose a sale.”

To save more time when processing payments, GoPayment includes customer-requested features such as the ability to create and sell from a list of frequently sold items, apply sales tax and send customized receipts via text and e-mail with a map of where the transaction took place.

For the more than 4 million small businesses that use QuickBooks, GoPayment can also sync transactions with recent versions of QuickBooks – both PC and Mac – to save time by reducing manual data entry.

The solution protects customer data throughout the payment process. Sensitive credit card data is never stored on the phone. In addition, card data is double encrypted – once via card reader and a second time via the GoPayment app.

GoPayment offers different discount rates and pricing plans depending on a business’s processing needs. Businesses that sign up for GoPayment before mid-February can get a free credit card reader while supplies last and choose one of the following pricing plans:

For lower or intermittent credit card processing volume:

  • No monthly service fee for businesses that sign up before mid-February; Discount rates: 2.7 percent for card swiped; 3.7 percent for both key entered and non-qualified transactions; $0.15 per transaction.

For higher credit card processing volume:

  • $12.95 monthly service fee; Discount rates: 1.7 percent for card swiped; 2.7 percent for key entered; and 3.7 percent for non-qualified transactions, such as corporate cards; $0.30 per transaction.

GoPayment has no long-term contracts, cancellation, gateway or set-up fees, and one account can enable up to 50 users. To receive the free offer, businesses must be a new Intuit Merchant Service customer and approved for an Intuit merchant account. Terms, conditions, pricing, features, service and support are also subject to change without notice.

More information: www.GoPayment.com.

Intuit GoPayment Mobile Credit Card Processing

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Intuit’s GoPayment mobile credit card processing solution has been around for a while, but only recently has the system included the ability to swipe a credit card and transmit that swiped data directly via mobile phone.

Since partnering with Mophie, a complete solutions is now available. The Mophie hardware, called mophie marketplace, is concealed inside of a low-profile, soft-touch case. It allows processing of any major credit card by entering card information directly into your iPhone.

The advantage for mobile merchants, such as Farmer’s Market vendors, food cart vendors, mobile service providers (plumbers, window repair, etc) is that the system is quick and easy to set up. The hardware can be purchased from Apple ($179.95), and there’s a free application at iTunes.

Intuit’s GoPayment Pricing:

Monthly Service …………$12.95
Swipe Rate ……………….1.7%3
Keyed Rate ……………….2.7%4
Transaction Fee …………30¢4
Set-up Fees ………………NONE
Cancellation Fee ……….NONE
Monthly Minimum ………NONE

More information:

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