What is Intuit GoPayment? You may have heard the buzz about it but aren't sure exactly what its purpose is and how it works.
It is a mobile credit card processing service by Intuit in which the merchant takes credit card payments from their cell phone. The Intuit GoPayment mobile credit card app and card reader enables those who sell products or services to never miss a sale, no matter where the person does business. If you have company representatives away from the office/out in the field who need to take customer payments or if you do not have a Point of Sale system but need to take credit card payments, this is the solution for you. For example, my hairstylist accepts cash, check, and credit cards but does not have a POS system. If a customer pays with their credit card, she simply plugs the card swipe into her cell phone (it’s a small device and doesn’t take up much room) and within seconds the transaction is processed. She then asks if the client wants the receipt sent to them as a text message or email. I chose an email, and that same evening I had a receipt in my inbox ready for me. I have been able to witness firsthand the benefits of Intuit GoPayment for the retailer and the customer.
You simply swipe using your GoPayment mobile card reader. It fits right into the headphone jack on your phone or tablet. With GoPayment, the merchant gets paid on the spot by processing any major credit card. It's actually similar to using a credit card terminal just as you do in a retail store but the credit card information is not stored in the phone. When you take payments with the GoPayment device, the customer’s credit card never leaves their sight. That gives them peace of mind. When your company representative swipes the card in the encrypted card reader, they will get authorization in seconds so there's no need to write down payment information or call back to the office. As stated above, the client’s receive either an email or text message with the electronic receipt sent directly from the sales person’s phone. Intuit offers low rates with no cancellation fees. The GoPayment works on Blackberry®, Android®, iPhone® and other popular handsets.
Statistics gathered by Decipher Research for Intuit:
• Over 4 million businesses currently use Intuit solutions.
• Over 220,000 merchants use the Intuit credit card processing services.
• Intuit processes over 116 million transactions per year.
I’ve included the following from an Intuit article published at http://about.intuit.com/about_intuit/press_room/press_release/articles/…
GoPayment Survey Estimates $100 Billion in Missed Sales for Small Businesses that Deny Plastic
Releasing the Cash Flow Chokehold
Small businesses also face a cash flow chokehold, waiting for an average of $5,140 per month in overdue payments. That’s a potential $1.7 trillion collective cash flow strain annually across all small businesses in the U.S.
Accepting credit cards on the spot helps alleviate this cash flow strain. Small businesses that accept plastic make more sales and get paid quicker than those that don’t. The survey found that 83 percent of businesses that accept credit cards make more sales, with 52 percent making at least $1,000 more per month and 18 percent making at least $20,000 more per month. In addition, 74 percent of those surveyed said they get paid faster and reduce bad debt by accepting credit cards. Read this very informative article.
Several of our clients are enjoying the efficiency of GoPayment. The customers no longer have to worry if they don’t have their checkbook with them, or when the check is going to clear, or not having enough cash on hand. The merchant doesn’t have to deposit checks or make change.
Watch the following short videos on how GoPayment works.
