As part of its GoPayment mobile payment offering, Intuit announced the launch of the GoPayment Prepaid Visa Card. The card expands Intuit's strategy beyond processing credit cards on a mobile device to offering the convenience of a Visa prepaid account linked to GoPayment. The company also recently launched SimpleStore for Facebook, allowing any current SimpleStore user to establish a storefront as part of his or her business page. The free tool automatically syncs the merchant's Website and Facebook page.
Small business owners can accept credit or debit card payments directly on Facebook, all through Intuit, with no added log-ins required for the customer. Because Intuit Web Payment is already tied to a user's merchant account, small businesses receive payment directly from Intuit, whether a sale is made on their Website or Facebook page.
"Using SimpleStore for Facebook has opened me up to an entirely new client base, and my sales have increased about 40 percent," said Erica Hunter owner of Arin Madison, an online store selling fine children's accessories. "I also have more repeat sales, since customers are checking back daily for new products and have the luxury to do so while logged in to their Facebook accounts."
The GoPayment Card makes it possible for users to have the funds they collect with GoPayment deposited into their GoPayment Card account. They can then use the card to make payments online and in stores and withdraw cash at ATMs everywhere Visa debit cards are accepted, though the company noted some fees may apply.
The card is aimed at smaller businesses or individuals who don't have a business bank account and still want to separate the money they make with GoPayment from their personal finances. It can also help them get up and running quickly as there is no bank account required to sign up. Those who prefer using a business or personal bank account can still choose to have their funds deposited into their bank account.
The GoPayment Card has no signup or monthly maintenance fees and offers one free ATM cash withdrawal each month as well as one free transfer of funds from the card to a bank account via ACH each month. The GoPayment Card is available to GoPayment users by signing up via the company's Website or via the GoPayment app. The physical card will arrive in the mail generally within seven to 10 business days. In the meantime, users can start accepting GoPayment credit card transactions, and the funds will be deposited into their GoPayment Card account generally within two to three business days.
"The GoPayment Card adds new value to those using GoPayment. In addition to helping them get paid, we're helping them make payments," said Chris Hylen, vice president and general manager of Intuit's payment solutions division. "This is just the beginning. Intuit will roll out new, innovative features for GoPayment that help users make payments in a variety of ways."
The GoPayment Card is a good option for many types of small and personal businesses, said Nathan Lipson, who owns Metrocycle Pedicabs in Austin, Texas. "Most of my riders don't have a business bank account and primarily use cash," said Lipson. "Having a prepaid card makes it much easier for them to sign up and use a service like GoPayment and gives them another option to make payments."