27 July 2016
Find out more

Intuit launches UK chip and PIN mobile card reader

14 March 2013  |  10085 views  |  0 Intuit Pay

Wading into a crowded UK market, Intuit has launched its app and chip and PIN dongle system for turning mobile phones into card payment terminals.

Intuit Pay comprises an iOS mobile app and chip and PIN card reader that enable small businesses to accept Visa and MasterCard card payments face-to-face or online. The app is free, as is the reader for a "limited time", with merchants paying a 2.75% fee for each transaction.



Terry Hicks, VP, products, global business division, Intuit, says: "Intuit Pay solves an important problem for the millions of small businesses and trades people in the UK who don't currently accept card payments and so miss out on sales or prompt payment as a result."

The commercial launch comes after a successful pilot involving hundreds of retailers but Intuit is entering a competitive market. Last month Sweden's iZettle launched a chip and PIN version of its system, joining Germany-bases rival Payleven, with another player, mPowa, also in the mix.

Nevertheless, Intuit is confident that there will be plenty of interest in the product, citing a survey it commissioned of 1000 small businesses in the UK, which found that just 19% of micro-firms - those with less than 10 employees - currently accept card payments. Almost half of these say they would accept cards if there was a more affordable way of doing so using their smart phone or tablet.

The company has also stolen a march on its American counterparts, with PayPal not planning a UK commercial launch for its 'Here' system until the summer and Square still restricting its service to North America.
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Square hit with cease and desist order in Illinois

Square hit with cease and desist order in Illinois

04 March 2013  |  8523 views  |  2 comments | 7 tweets | 4 linkedin
PayPal Here gets chip and PIN for UK launch

PayPal Here gets chip and PIN for UK launch

22 February 2013  |  11849 views  |  0 comments | 12 tweets | 10 linkedin
IZettle ships chip and PIN reader

IZettle ships chip and PIN reader

20 February 2013  |  12430 views  |  2 comments | 21 tweets | 10 linkedin
MPowa signs white label deal with Portugal Telecom

MPowa signs white label deal with Portugal Telecom

05 February 2013  |  3699 views  |  0 comments | 2 tweets
Starbucks adds Square readers to menu

Starbucks adds Square readers to menu

04 January 2013  |  12362 views  |  0 comments | 8 tweets | 5 linkedin
Intuit pilots UK chip and PIN mobile card reader

Intuit pilots UK chip and PIN mobile card reader

29 November 2012  |  11574 views  |  0 comments | 8 tweets | 9 linkedin
Finextra TV: iZettle launches in the UK

Finextra TV: iZettle launches in the UK

07 November 2012  |  11376 views  |  4 comments | 12 tweets | 7 linkedin
Square arrives in Canada

Square arrives in Canada

24 October 2012  |  6340 views  |  1 comments | 11 tweets | 1 linkedin
AmEx invests in iZettle; O2 launches PINpad for mobile payments

AmEx invests in iZettle; O2 launches PINpad for mobile payments

23 October 2012  |  10156 views  |  0 comments | 14 tweets | 3 linkedin
Payleven launches chip and PIN-based Square clone

Payleven launches chip and PIN-based Square clone

03 October 2012  |  10941 views  |  0 comments | 1 linkedin
MPowa reports First National Bank deal; denies own claims on Visa acceptance

MPowa reports First National Bank deal; denies own claims on Visa acceptance

01 October 2012  |  13124 views  |  3 comments | 3 tweets
Intuit takes GoPayment to Canada

Intuit takes GoPayment to Canada

10 January 2012  |  7007 views  |  0 comments
Intuit turns up the heat on Square with AT&T partnership

Intuit turns up the heat on Square with AT&T partnership

07 November 2011  |  11340 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit VocaLink.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9368 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9264 views 14 comments | 32 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
7856 views comments | 18 tweets | 25 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
5953 views 0 | 9 tweets | 3 linkedin
Thomson Reuters and Imperial College form fintech and regtech research partnershipThomson Reuters and Imperial College form...
5914 views comments | 29 tweets | 16 linkedin

Featured job

Find your next job