November 07, 2011

Intuit today announced today it is partnering with AT&T to offer its GoPayment credit card reader and mobile app on the telecom company's network.

GoPayment allows small business owners to 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, Intuit said. It is available via AT&T's nationwide small business sales force and call centers.

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.

In August, Intuit announced a similar partnership to offer GoPayment on the Verizon network.

The worldwide mobile payments market is rapidly growing. 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's GoPayment offering competes directly with start-up Square's mobile debit and credit card reader, already being used by more than 800,000 businesses.

"By teaming up with AT&T, we're getting GoPayment into the hands of even more small businesses," said Chris Hylen, vice president and general manager of Intuit's Payment Solutions division, in the announcement. "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."

Related articles: Can Square, Intuit and Other Mobile Payment Providers Compete With A 12-Cent Debit Card Transaction?, Gartner Says Mobile Payment Growth Slower Than Expected, Erply Launches New Mobile Card Reader for Tablets

ABOUT THE AUTHOR
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 ...