Intuit also offers a $12.95/month option, which reduces the swipe rate to 1.7%. The swiped transaction rate is 2.7% for pay-as-you-go users, and, like Square, it has eliminated the per transaction fee.

The GoPayment mobile app is free and the basic service includes no monthly transaction or cancellation fees. Intuit GoPayment launched back in summer 2009, and now competes with Square, VeriFone’s PayWare, PayPal Here and many other “POS Light” solutions, as Chris Hylen, VP of Intuit Payments, calls them. Combined with GoPayment, the businesses process $6 billion in transactions annually. Currently, the company has 200, 000 SMB retail customers who together reach 23 million customers across the U.S. Intuit has been in the POS business for 10 years and its QuickBooks POS solution is aimed at the small to medium-sized business customer. The two solutions will now be able to communicate with each other, syncing both inventory and financial data from PC to mobile or vice versa. Intuit is now merging its traditional POS software, QuickBooks POS, with its mobile offering (and Square rival) Intuit GoPayment. Let the mobile payment wars continue! Only yesterday Square announced its ever-expanding retail availability (20, 000 outlets nationwide), and today competitor Intuit GoPayment is following up with some major news of its own.

Intuit pos app