The iPhone is fast becoming a benchmark for best of the class mobile payment solutions. Square has been around for a long time now but it will soon be seriously challenged by an innovative product called ‘Complete Credit Card Solution’, a joint offering from Intuit and Mophie. The new iPhone Credit Card Scanner accessory is [...]
The iPhone is fast becoming a benchmark for best of the class mobile payment solutions. Square has been around for a long time now but it will soon be seriously challenged by an innovative product called ‘Complete Credit Card Solution’, a joint offering from Intuit and Mophie. The new iPhone Credit Card Scanner accessory is an all-in-one credit card payment solution for the iPhone which integrates Intuit’s GoPayment credit card processing app and merchant account with the Mophie marketplace iPhone credit card reader.
The ‘Complete Credit Card Solution’ is yet another proof that the future of banking and shopping is cardless, the future is iPhone!
The Mophie card reader offers a stylish and sleek design and supports a touch interface which lets customers authorize a transaction by signing the iPhone’s touchscreen with a finger. The packaged solution is completely secure as it encrypts credit card information at the hardware level before it passes through the phone, through the app and its data connection, and stays encrypted all the way to Intuit’s cloud-based merchant account, providing end-to-end security even if a virus or hacker has compromised the phone itself. GoPayment provides a swipe screen where a merchant enters the transaction total. Receipts are sent to customers using e-mail or SMS.
Comparison of Intuit’s offerings with Square is inevitable. Though both may appear to be similar solutions, they differ significantly in more than one ways. While Intuit solution is aimed at small business transactions, Square dominates the micro-payment segment. The Intuit-Mophie solution has a fairly substantial start-up cost, primarily due to the hardware costs while Square reader itself is free. The Square Reader works with all devices as it plugs into a headphone jack while the Complete Credit Card Solution works only with iPhone 3G and 3GS devices. Transaction charges are much lower on Square.
The Complete Credit Card Solution is available at Apple retail stores for $179.95 and it works on the iPhone 3G and 3GS (not for iPhone 4). The GoPayment App is a free download on the iTunes app store and an Intuit merchant account costs $12.95 per month, with discount rates ranging between 1.7 to 3.7 percent and transaction fees ranging from 30 cents to 34 cents. Each account can enable up to 50 users and there are no setup/ cancellation fees.
Tired of managing multiple cards? Turn your iPhone into a ”Complete Credit Card Solution” today!
Olivia Wilde
Megan Fox
No comments:
Post a Comment