Verizon Wireless has teamed up with Intuit, a
business and financial management solution provider, to launch a
credit card payment processing service on smartphones and
tablets.
The service will be marketed to small
businesses in particular.
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Intuit’s GoPayment app and pocket-sized credit
card reader will be offered in all Verizon retail stores and
business-to-business (B2B) sales channels, making it easier for
small businesses to accept credit cards wirelessly and increase
their customers’ payment options.
The technology works by plugging the card
reader into the audio jack of the smartphone or tablet and swiping
the card or manually entering the card data via the app.
The cards data is not stored on the phone and
is encrypted twice to increase the security of the transaction.
Mike Schaefer, executive director of the
Business Solutions Group for Verizon Wireless, said:
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By GlobalData“Intuit’s GoPayment on America’s most reliable
network is a mobile transaction game changer and brings another
dimension of must-have technology to the small business
community.”
The app also allows small businesses more
freedom as they can choose to apply sales tax, tips and send
customised receipts to their customers via text or email.
