Quite awhile ago, a company called Square created a small device that allowed business owners to take credit and debit payments by attaching the device to a smartphone or tablet. I was able to see Square in action a few months ago at a Brooklyn market – there’s no doubt about the fact that this device allowed the owners of a small food truck to take all kinds of payment. Even though Square is an excellent idea (and one that I’m sure lots of businesses now use). Square never quite reached the Great White North (Canada).
Today, a headline featuring another mobile payment device, GoPayment, caught my eye. This device does largely the same thing that Square does, but it has been recently launched in Canada. GoPayment works with iOS, Android, and Blackberry devices. If you own a small business (any kind of small business), you really can’t afford to ignore what GoPayment has to offer. Here’s why you need to take a very close look at this mobile payment device.
How GoPayment Works
GoPayment comes in the form of a small credit card reader that plugs into the audio jack of a smartphone or tablet. Once plugged in, business owners can use the free GoPayment app to set up mobile payments. From there, customers simply have to slide a credit card through the phone or tablet, and a payment will either be accepted or rejected – just like a regular credit card machine. Why not purchase a regular credit card machine for your business? It all has to do with rates, you see.
GoPayment doesn’t come with any monthly, cancellation, or transaction fees –that’s right, no monthly fees. Cards are swiped at a 2.7% rate, and money can be stored on a prepaid credit card or deposited directly into a bank account. On the consumer side of things, credit card numbers are never stored on a smartphone or tablet, and the transaction is entirely secure. There are a few other mobile payment options in Canada, but none of them compare to the popularity that GoPayment has already received in the states. Square will do well to begin looking into the Canadian market – a market that is sure to respond favorably to any alternative to regular credit card machines.
Intuit (the company behind GoPayment) has just announced its Canadian foray, so give the company a few weeks to get things rolling in Canada. Presumably, Intuit will snag a few Canadian retailers to test out the market, so look for the GoPayment device at a small business near you sometime soon. If you want one of these for your own, head to the Intuit site and check out the GoPayment Canada offering.
You might be wondering one last thing: how much is the actual GoPayment device? The answer to this question will delight and surprise you: GoPayment is absolutely free. All you have to do is sign up for your own GoPayment device on the Intuit site. Now, there’s no reason for any company in Canada not to accept credit card payments – this is a definite way to increase your business!