(Image courtesy of Wired)
If you’ve been looking for a better way to accept credit cards with your iPhone, Intuit and Mophie have teamed up and may just have the perfect solution for you — assuming you’re still rockin’ an older iPhone 3G or 3GS, that is (for now).
Wired is reporting that financial software giant Intuit has teamed with iPhone accessory maker Mophie to create the Complete Credit Card Solution, a 0 hardware solution that fits onto your handset and works with Intuit’s GoPayment app (available from the App Store, which integrates tightly with Quickbooks) to accept credit card payments. The mobile payment system is expected to go on sale at Apple stores before the end of this month.
The beauty of Intuit and Mophie’s solution is that it includes everything you need: The hardware attachment to actually swipe cards, the iOS payment app and of course, the merchant account operated by Intuit, which will run you .95 per month regardless of how much (or how little) you use it on top of transaction fees that range from 1.7 to 3.7 percent plus 30 to 40 cents per transaction. Wired notes that the fees are comparable to a regular merchant account which doesn’t allow mobile payments.
Unfortunately, the hardware doesn’t yet work with the newest iPhone 4, since Mophie didn’t get any advance notice about the new handset’s radical redesign prior to it being announced in June. But the company is working on it, and for now will offer the hardware for the iPhone 3G and 3GS.
“Something that’s important to Apple, because this is going to be sold in their stores, is they wanted it to be incredibly easy to communicate what it’s going to cost, and how quickly you’ll be up and running — and that you’re up and running before you leave the store,” explained Mophie’s vice president of marketing, Ross Howe.
On the good news front, the mobile payment solution does not require a long-term contract. “Most merchant service providers require hefty contracts and incredible termination fees,” Howe said, “and the fact that you can turn this on if you’re in a farmers’ market for the sunny summer and then just call and cancel your account until next sunny summer, for really reasonable rates — and there’s something to be said for that.”
With the delay of Twitter co-founder Jack Dorsey’s competing Square payment system, Intuit and Mophie’s new Complete Credit Card Solution looks like the perfect solution for small business owners on the go.
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