Intuit Launching its GoPayment Card
- Intuit is about to launch a prepaid top-up Visa card for merchants using its mobile cash collection solution GoPayment. The GoPayment Card will be issued by The Bancorp Bank. By default, new subscribers will systematically be proposed this option.
- Through this solution, Intuit would allow merchants to avoid entering banking information when creating their account: this data will not be asked for.
- Once registered, the customer can choose to deposit the funds he earns on his prepaid card, thus allowing him to discriminate personal from professional accounting. He also benefits from a personal online portal to check on his balance and transaction history, perform funds transfers and have access his loyalty points.
- This card does not imply any management fees and the first ATM cash withdrawal in the month is free of charge. Other withdrawals will cost 2.50 dollars and account consultations are charged 50 cents.
- Intuit was first positioned on mobile cash collection as well as accounting and Personal Finance Management tools for small business and individual customers. Among its products, TurboTax, for instance, includes a physical card (designed for tax refunds). This company also proposes a payroll-dedicated card.
- According to this player, GoPayment Card’s acceptance by suppliers may, for now, be an issue for merchant subscribers but they are currently working to solve this problem.