Intuit GoPayment Now Allows Merchants To Receive Money On A Prepaid Visa Card

Intuit has made an interesting move today with its mobile credit card reader GoPayment reader. Intuit is allowing merchants to keep and receive funds on a prepaid credit card as opposed to depositing the amount in a bank account. Launched two years ago, GoPayment offers a complimentary app and credit card reader to allow small businesses to conduct charges via their smartphones. GoPayment, which competes directly with Square, is available for iOS, Android and Blackberry phones and the card reader simply plugs into the audio jack of a phone or tablet. The credit card data is also encrypted, (and never stored on the phone).

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