Card data is never stored on the mobile device and is twice encrypted during transaction processing.
Business and financial management solutions specialist Intuit and
network operator AT&T (NYSE:T) announced a partnership to offer
Intuit GoPayment for AT&T, a mobile application and credit card
reader that helps small and midsize businesses process credit or debit
card payments using their smartphone or tablet. GoPayment for AT&T
comes with automatic signup and pre-approval for the majority of
AT&T customers and is available via AT&T's nationwide small
business sales force and call centers.
The basic GoPayment service has no monthly, transaction or
cancellation fees, and offers a 2.7 percent discount rate for swiped
transactions. For small businesses with higher volume processing needs,
a paid version of GoPayment also is available for $12.95 a month and
provides a lower discount rate of 1.7 percent for swiped transactions.
That plan is recommended for businesses that process more than $1,000 a
month and want multiple employees to process payments using one
GoPayment account. The monthly fee for the paid version of GoPayment is
rolled into customers' existing monthly AT&T bill.
Qualifying customers can purchase GoPayment for AT&T as part of
AT&T's All for Less packages, which feature wireless, wired and
broadband services, Website hosting, tech support and data backup.
According to the Yankee Group's 2011 Mobile Money Forecast, the value
of mobile transactions worldwide will grow from $241 billion in 2011 to
more than $1 trillion by 2015, a compound annual growth rate of 56
percent.
"Intuit GoPayment for AT&T comes with automatic pre-approval for
AT&T customers, helping small businesses speed up the on-boarding
process and enabling them to make credit and debit card transactions
within minutes," said Ebrahim Keshavarz, AT&T vice president of
small business product management. "This offer is just the first step
in AT&T and Intuit working together to benefit small businesses by
helping them broaden their payment capabilities, save money and,
ultimately, better serve their customers."
Features include the ability to create and sell from a list of
frequently sold items, swipe credit cards using the card reader
hardware instead of entering data manually and sending text or email
receipts with a map of where the transaction took place. In addition,
card data is never stored on the mobile device and is encrypted during
processing - once via the credit card reader and a second time via the
GoPayment app.
"GoPayment makes it easier for small businesses to grow their
business no matter where they are," said Chris Hylen, vice president
and general manager of Intuit's payment solutions division. "By teaming
up with AT&T, we're getting GoPayment into the hands of even more
small businesses. Now they too can easily and affordably process credit
cards and get paid on the spot, which in this tough economy means
increased cash flow and more repeat business."
Nathan Eddy is Associate Editor, Midmarket, at eWEEK.com. Before joining eWEEK.com, Nate was a writer with ChannelWeb and he served as an editor at FierceMarkets. He is a graduate of the Medill School of Journalism at Northwestern University.
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