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March 14, 2013

Intuit enters UK market with new mobile payments service

Intuit has launched a new mobile payments service and a pay chip and PIN reader.

By CBR Staff Writer

As part of the move, the company has introduced Intuit Pay Chip & PIN card reader for free for a limited time and a new mobile app, which lets businesses accept secure payments face-to-face and over smartphones.

Intuit’s new product joins iZettle, Payleven and PayPal, in offering similar services.

It also offers the service on a pay-per-transaction basis by charging no subscription fee but in return takes 2.75% commission on each transaction.

Intuit’s global business division products vice president Terry Hicks said Intuit Pay allows millions of small businesses and trades people in the UK to accept card payments and gain on sales or prompt payment as a result.

Hicks said: "Current solutions are either too expensive, demand long-term contracts or simply don’t work where businesses need them.

"Intuit Pay changes the game, providing an easy, low-cost way for anyone to accept card payments anywhere."

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