Intuit Beats Square to the Punch

[Image via Engadget]

I really like the crew at Square. I’ve written about one of their founders in a magazine, and about them here multiple times. But it’s just not as out there as it could be yet, and I know I haven’t received my reader yet. And although excuses about manufacturing problems and underwriting issues are nice to hear, it’s still been five months since I first applied and nothing has shown up yet. And I know I’m not the only one in this situation.

Since Square brought it up, I’ve been wondering who else would come to market with the technology. Here’s one of them now. It’s the Intuit GoPayment for the iPhone, and it’s made by Intuit – makers of Quickbooks – and Mophie – makers of secondary iPhone batteries. So how’s it work?

Well, it’s pretty simple. There’s a magnetic reader on the bottom of the case, and you swipe a card in the reader and go through the transaction on the screen. It’s similar to Square in that respect. The rates start at 1.7% for a swiped card and $12.95 a month for the service. Is it worth it?

The point with Square was to make it easy for the masses to use credit cards. But until they follow through, if you want or need to accept credit cards and you have an iPhone, this is one of your better options.

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