US payments company Intuit has announced the launch of mobile Chip & PIN card reader in the UK. Intuit will be joining PayPal, iZettle, payleven and others, in the growing British mPOS space.
The new reader enables businesses to take secure payments face-to-face and over the phone. It includes a free app – for iPhone, iPad and iPod touch – and chip & PIN card reader. Users of Intuit Pay can get activated ready to take their first online payment within minutes of applying (subject to status and credit check) and there are no monthly fees or commitment – just a fee of 2.75 per cent per transaction.
In addition to the traditional Chip & PIN technology present in most European card readers, Intuit also allows merchants to securely take card payments over the phone. Merchants can allow users to enter card details online using the secure Intuit Pay site to take payments from home or office over the phone. In addition, the app connects with Quickbooks, to make accounting easier for merchants.
“Intuit Pay solves an important problem for the millions of small businesses and trades people in the U.K. who don’t currently accept card payments and so miss out on sales or prompt payment as a result,” said Terry Hicks, vice president of products for Intuit’s global business division. “Current solutions are either too expensive, demand long-term contracts or simply don’t work where businesses need them. Intuit Pay changes the game, providing an easy, low-cost way for anyone to accept card payments anywhere.”
While there are many other solutions on offer for British merchants, it is good to see some competition with the European players. As the option for mobile payments increase British retailers might be more inclined to embrace the technology.
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