Smartens up its mobile card reader product to ramp up competition with Square et al.
Intuit's GoPayment dongle launched in summer 2009, and competes with Square, VeriFone’s PayWare, PayPal Here, iZettle and a handful of other mobile-based card reading products.
Now, it's combining GoPayment with its famous QuickBooks POS solution, which is used by a huge number of small businesses to manage accounts - 200,000 in the US alone.
It all means that users can sync data from PC to mobile or tvice versa, and use the info to track customers, create inventory, run reports, and more.
As part of the new system, POS customers will have GoPayment bundled free with the boxed software. The readers will also be free, with Intuit making money from the transaction rev share of 2.7 per cent
Of course, customers can still sign up for GoPayment as a standalone service.
The move indicates the radical disruption that these new dongles are bringing to the retail and small business payments space. Clearly, a firm like Intuit - a giant of the old way of doing things - is embracing the new concept not just as a defensive move but because it has the potential to consolidate its position as the financial management partner of choice for the huge SME space.
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Not at all surprised by this turn of events. I am rather certain that Quickbooks POS has a major price drop in the next few months as more companies that are planning to enter into this market began to announce. I wish mPowa (www.mpowa.com) in the UK will also do the same. Thanks Tim! This is a really good article.
margaux parker Jun 7th 2012 at 1:31AM
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