Intuit Mini Card Swiper & GoPayment - A Small Business Masterpiece

Shaped like a mini drum, coated with slate-colored rubber, Intuit’s mini Card Swiper makes a way to connect to mobile devices through a headphone jack. The best attraction about this little masterpiece is that it won’t cost much to the small business that owns it. This little card swiper will be sent to the new customers of GoPayment, a mobile payment service, said Intuit. The device enables small businesses to accept credit card payments through mobile devices running the GoPayment application. No contract commitment is required for such a service.

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Basically, Intuit makes money out of the service by collecting a nominal swipe fee of 2.7 percent of the actual purchase made. However the fee rises to 3.7 percent if the customer actually makes no use of the card swiper and enters the credit card details manually. Nevertheless customers transacting frequently can pay a monthly fee of $12.95 to avail lower rates of 1.7 percent compared to that of 2.7 percent.

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Intuit commits the global availability of GoPayment application starting the service from Canada in the early 2012. The new card swiper works on iPhone, iPad and iPod Touch seamlessly as per the news release. On the other hand, Intel faces strong competition in the field of mobile payments and offers similar service as that of GoPayment forcing Intuit to cut down its fee to 2.7 percent compared to 2.75 percent charged by Intel.

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