Intuit, best known for its Quicken, QuickBooks and TurboTax (yay for accounting software…) is launching a free version of it’s GoPayment service:
Intuit’s GoPayment is a mobile app coupled with a magnetic stripe reader that attaches to smartphones.
Both companies take a cut of each credit card payment that’s run through their readers. But up until now, Intuit also charged a $13 monthly fee for its service and its readers retailed for as much as $219 (Square’s stamp-sized readers, which fit into a phone’s audio jack, are less rugged but have been free since day one).
The new offering not only does away with the monthly fee, it also includes a free, arc-shaped reader.
Obviously this competes directly with Square:
It might just win the battle with the model of “free” and especially since the accounting software is so well-known and used.
Kevin says
It looks like a good effort, but I seriously hope Square keeps that market. Intuit’s percentage that they take is only .05% less than Square’s…not enough for me to jump ship.
Jonathan Mayhak says
Intuit is also known for Mint.
Eric J says
Epically because nobody i know has ever received their square headphone adapter.
Jordan Wiseman says
I did! 🙂
I haven’t found a good reason to use it yet though, heh.