Verizon, Intuit Partner on Mobile Payments

Verizon Wireless today announced it is offering Mountain View, Calif.-based Intuit's GoPayment credit card reader and related apps in its 2,300 retail stores and B2B sales channels.

The pocket-sized GoPayment reader, introduced two years ago by Intuit, plugs into the audio jack of any supported smartphone or tablet, including devices running the iOS, Android and BlackBerry operating systems. Merchants can swipe consumer credit and debit cards through the reader or enter card information manually, with all transactions processed immediately and funds automatically deposited into the user's bank account within a few business days. Merchants may also choose to apply sales tax, add tips and send customized receipts via text message and email, complete with a map indicating where the transaction occurred.

Verizon Wireless customers can get the GoPayment credit card reader free with activation of a GoPayment account and a mail-in rebate for the $29.97 purchase price. The GoPayment mobile payment app is free and the basic service has no monthly, transaction or cancellation fees, and offers a 2.7 percent discount rate for swiped transactions.

Business owners planning on using the reader more frequently can sign up for a paid version of GoPayment available for $12.95 a month, which provides a discount rate of 1.7 percent for swiped transactions. Intuit is offering Verizon Wireless customers two months of free service when they select this monthly paid plan.

Customers who purchase a smartphone for their GoPayment use will need to subscribe to a Verizon Wireless Nationwide Talk plan beginning at $39.99 for monthly access. Tablet and smartphone users require a data package starting at $30 a month for 2GB of data.

GoPayment can also sync transactions for business owners using Intuit's Quikbooks, reducing the need for manual data entry.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio