Intuit

Intuit and Verizon Release GoPayment App for Small Businesses

August 26, 2011 by Zack Duncan Leave a Comment

Intuit Incorporated, along with Verizon Wireless, has just announced the release of Intuit’s GoPayment app as well as its pocket-sized credit card reader, both of which will be available in Verizon’s 2,300 retail stores and business-to-business sales channels.

Basically, this means that Verizon has endorsed a competitor to Square, the credit card reader that works in conjunction with the iPhone from Apple. GoPayment is aimed at small-to-medium sized business and is used to process credit card payments on smartphones as well as tablets.

The card reader plugs into the audio jack of your mobile device and then the card can be swiped or manually entered into the GoPayment app. The transaction is immediately processed and funds are deposited into the bank account of the user automatically within a few business days. The app itself is available on Android, Blackberry and iOS devices.

Customers of Verizon can get a free card reader by activating a GoPayment account and then taking advantage of the mail-in rebate for the $29.97 price. If you purchase a smartphone specifically for GoPayment, you are required to subscribe to Verizon’s Nationwide talk plan which starts at $39.99 per month. In addition to that, you will also need a data plan which starts at $30 per month for 2GB of data.

The GoPayment app is free with no monthly subscription fee but a 2.7% charge for every swiped transaction will be incurred. A paid version is also available for $12.95 per month at a rate of 1.7% for every swiped transaction. In addition to that, Intuit is offering Verizon customers two months of free service if they select GoPayment’s paid monthly plan.

According to Executive Director of Verizon’s Business Solutions Group Mike Schaefer, “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. Payments and transactions are often the biggest hurdle businesses face. Our value proposition is to streamline, simplify and enable business owners to get paid with minimal delay. This collaboration with Intuit is an important part of our strategy to bring the most innovative online and mobile tools to our customers.”

Source: PC Mag – Intuit and Verizon Wireless Team Up on GoPayment for Small Biz

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SMBs are Hiring

March 7, 2010 by Sarah Leave a Comment

New data suggests the smallest businesses in the country are beginning to add new jobs and some experts say that’s a great sign for bigger companies. This info comes despite a March 5th report from the Labor Department that suggests the United States is still losing jobs.

Intuit released some information on March 1st that suggests companies with less than 20 employees have been adding new jobs since June 2009. That’s based on the 50,000 customers using their online payroll service. Also, after two years of decline, the average paycheck amount for someone working for a company of less than 100 employees is beginning to stabilize over the last three months, and in some cases, is increasing. This includes data from salary, hourly, and contract workers. That information came out on March 3rd from a company called SurePayroll.

The numbers look like this: since June, employment at small businesses as been growing at 1.1% annual rate. With that information, Intuit suggests 150,000 jobs have been created by companies with fewer than 20 employees since June. That includes 40,000 last month alone. Granted that’s a long way from re-employing the 8.4 million who have lost jobs since December 2007, but it’s still a start and it’s left some people pretty hopeful.

Brian Headd, an economist at the Small Business Administration says this is a potentially good sign. He says that in 2002, recovery began when small businesses began hiring before larger companies did and in some cases when larger companies were still losing jobs. According to census data from 2006, companies of 20 or less employees make up 89% of all businesses and 18% of the private workforce.

Meanwhile, Congress is working on a number of different bills in an effort to put people back to work and one way they’re trying to do that is tax incentives. Last week, the House passed a bill that gives employers who hire people who have been out of work for two months a year free from paying the Social Security payroll tax. John Bishop of Cornell University has proposed a hiring tax credit that he says could will encourage about two million jobs in the next year. But a lot small businesses don’t wait on the government to pass bills before they hire and don’t sit around, waiting for incentives.

For example, Michael McKean, the CEO of the Knowland Group in McLean, VA told Business Week he has already hired ten people this year and hopes to hire about six more. The company makes sales, marketing, and lead generation products to help hotels attract conferences and events. He says he believes the industry is due to pick up soon and knows he can increase his credit line

Official data from the Labor Department about hiring won’t be available for several months, but if history is any indication, this data is good news. Companies with less than 500 employees have made up 64% of new jobs created between 1993 and 2008 and it looks like that trend will continue.

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