Intuit Teaming with Verizon Wireless to Compete with Square in Personal Credit Card Processing

Square revolutionized credit card transactions by making it cheap and easy to process by ordinary people without needing a merchant account. Personal finance software giant Intuit didn’t want to get any further behind in this area and is partnering with Verizon Wireless to promote its GoPayment service.

Intuit Partners With Verizon Wireless To Sell Square-Competitor GoPayment At Retail Stores (TechCrunch)

Intuit GoPayment provides hardware and services similar to Square. The GoPayment reader hardware will be sold in Verizon Wireless’ retail stores for $29.97. However, a mail-in rebate gives the purchaser back the money after account activiation. Like Square, Intuit’s GoPayment will not charge recurring or cancellation fees. A flat 2.7% rate is charged for each payment processed.

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