Intuit Releases a Mobile Payment System-compatible Debit Card for Small Business Owners
As part of its GoPayment mobile payment service program, Intuit has just unveiled a prepaid GoPayment Visa Card, with the express purpose of assisting small business owners in better managing their cash.
American software company Intuit has recently released its own debit card which is linked to its signature mobile payments service GoPayment. The Intuit card is targeted towards small business owners looking for an easy means of keeping their cash organized.
“In addition to helping them get paid, we’re helping them make payments. This is just the beginning. Intuit will roll out new, innovative features for GoPayment that help users make payments in a variety of ways,” said Chris Hylen, the vice president and general manager of Intuit’s Payment Solutions division, according to online news source Venture Beat.
GoPayment’s biggest competitor is Square, the electronic payment service that allows merchants to accept credit and debit card payments via their iPhone, iPad or Android device. Square announced recently that Virgin mogul Sir Richard Branson, became an investor during their $100 million round of funding. They signed up their one millionth merchant to the service not long ago.
Also compatible with Blackberry mobile devices, GoPayment functions in much the same manner as Square – the user inserts a small payment card reader into the audio jack of their smartphone or tablet device and utilizes a downloadable application to read and process the incoming card data, including the processing of signatures.
As more and more consumers warm to the notion of using mobile payment systems for monetary transactions, the marketplace for the innovative technology is definitely heating up.
Internet marketing research company comScore reported that 38% of smartphone owners have made at least one mobile payment. 2011’s Cyber Monday saw a significant jump in mobile purchasing for business such as PayPal.
In addition to serving their customers, small business have other banking needs that must be met. Many owners of small businesses rely upon their own personal bank accounts to fund their business on a daily basis. Intuit addresses the dire need for the separation of business and personal finances by now allowing the transfer of funds onto a prepaid GoPayment debit card.
All transactions occurring during the GoPayment process will be allocated to the card for business use. The card, issued by Bankcorp bank, is Visa-licensed and is welcomed everywhere Visa debit cards are accepted. Money can also be transferred from the card into a bank account.
Latest Prepaid & Debit Card News
At the beginning of May, Samsung announced its partnership with SoFi, an online personal finance company, aimed at the creation of a new bank product called Samsung Money by SoFi. And now the company revealed more details on the offer. First of all, it became known that Samsung Money will include two possible options: a […]
Venmo, a PayPal’s subsidiary company, is expected to launch a new teen feature for its tap-to-pay debit card. Information about this appeared recently and has not yet been fully confirmed. A Venmo spokesperson’s comment was quite concise: “Venmo is constantly working to identify ways to refine and enhance the user experience. We frequently test product […]
The way people pay for things has changed over the past several years. Mobile payments, digital wallets, touchless credit cards, and online payments have all taken off, leaving that old-fashioned payment method, cash, in the dust.
When you’re booking a trip, how do you prefer to pay for it? If you said debit card or cash rather than credit card, you’re not alone.
If opening up your mail brings a feeling of dread, because you don’t want to see how much you owe to which credit card companies, you’re not alone. Many Americans are struggling to get out of debt, and at the beginning of the year, credit counselor and financial planners often see a surge in the number of people seeking out their advice.