Intuit Pay is a new mobile payment solution from Intuit, the maker of QuickBooks, which enables businesses to take secure payments from customers face-to-face.
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The app, available for iOS and Android, works with a chip-and-PIN reader to accept credit or debit card payments.
An Intuit spokesperson says that ‘essentially it means anyone, from the man on the street to a tradesman or taxi driver, can take payments in a few minutes via their smartphone. Intuit Pay is perfect for small businesses, such as market-stall holders, builders, plumbers, and anyone that has to travel to customer sites. It is also a very handy tool for private use, for example when fundraising for charity or when collecting money from friends for a holiday.’
The card reader costs £49 plus VAT while the app is free to download from the iTunes or Google Play store. Not that Intuit only lists a small number of Google Android mobile devices as compatible, almost exclusively Samsung.
The payment solution is approved by Visa and Mastercard, but the card reader does not currently accept payments from any non-Visa or non-Mastercard credit and debit cards, such as American Express.
A 2.75% charge is levied on each transaction, and a promotion reduces the initial cost – the first ten transactions made within the first 30 days are free.
Users can either log in to the app via an existing Intuit account, or create a new account to use
You need an Intuit account to use Intuit Pay; previous Intuit customers can use their existing account, or you can set up a new one.
In order to be approved for trading, users need to fill in their personal details and be credit-scored before the app can be used. This can take a few days.
Once a user has been approved, it’s easy to set up the card reader for the app. This is done by pairing the devices via Bluetooth, and the app provides clear instructions to do this. Then, Intuit Pay can be used in earnest – and it’s pleasantly simple and intuitive to use.
The app interface can be customised to suit your preference; you can also set up your business details and upload business logos which will appear on each receipt.
Payments and refunds can be made instantly and easily, and you can even email receipts to customers. Items or services sold by your business can be easily set up (or deleted), with an option to include pictures of the items being sold.
There is also a function to add a discount, or give customers the option to add a gratuity onto the transaction.
Refunds are also possible, although Intuit gets to keep its original 2.75% commission.
There’s a maximum single transaction fee of £9999, and no formal limit on turnover through the system. In order
The transaction history can be viewed via the app, or by logging into your online Intuit account on any connected computer. Intuit sends a monthly statement to help with any accounting needs. The app also connects to QuickBooks Online, Intuit’s accounting package, for users who have it.
While Intuit Pay is very straightforward to navigate and use, any assistance that might be needed can be found under a comprehensive Help menu – just touch the question mark at the top of the screen.