Intuit Launches Mobile Payments Pilot in the U.K.

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Lets Small Businesses Accept Credit Card Payments Anywhere – Online and on the Go

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) has launched a pilot programme in the U.K., giving small businesses an easy, secure and inexpensive way to accept card payments anywhere. Intuit Pay, from the makers of QuickBooks, is being tested by hundreds of small businesses in the U.K., and includes a free mobile app with a low-cost chip and PIN card reader.

Intuit Pay gets small businesses paid on the spot so they never miss a sale. (Photo: Business Wire)

Intuit Pay gets small businesses paid on the spot so they never miss a sale. (Photo: Business Wire)

Intuit Pay is ideal for both brick-and-mortar businesses and those on the go – from tradesmen to taxis, and from markets to manufacturers. It allows small businesses to get paid on the spot so they never miss a sale. Businesses in the pilot can use Intuit Pay to accept credit or debit card payments in two easy ways:

  • In person: Accept credit cards anywhere, using a smartphone or tablet, a free app and the Intuit Pay chip and PIN card reader.
  • From home or office: Process credit and debit card payments instantly online from a computer.

Pilot participant Rob Welch, who runs tour company smallcarBIGCITY, said: “This week alone, I have encountered six clients that wanted the flexibility of taking payments there and then. Catering to your clients needs can be the difference between success and failure. Intuit Pay is the cheap, effective and safe way of taking card payments I have been looking for. My business needs the flexibility to take payment from my customers anytime, anywhere, so I am really excited to be part of this pilot and to see how Intuit Pay can help my business grow.”

Intuit Pay captures the highly successful and proven experience of Intuit’s payment offerings, including GoPayment and QuickBooks Merchant Service. By encrypting all customer data and keeping it safe, it meets the unique requirements of the U.K. payments industry and is approved for chip and PIN payments by Visa and MasterCard.

“For many small businesses, accepting card payments has simply not been an attractive option,” said Terry Hicks, vice president for products for Intuit’s global business division. “It can take weeks to get set up, the equipment and transactions can be expensive and there is no easy way to take payments on the go. With Intuit Pay you can sign up and begin accepting card payments within minutes. Our mobile app and card reader lets you securely take payments anywhere using your own smartphone or tablet.”

A survey for Intuit of 1,000 small businesses in the U.K. found that just 19 per cent of micro-businesses – firms with less than 10 employees – currently accept card payments. Almost half, a total of 47 per cent, said they would accept cards if there was a more affordable way of doing so using their smartphone or tablet. There are an estimated 4.6 million micro businesses in the U.K., according the Department for Business Innovation & Skills.

Intuit Pay builds on Intuit’s 10 years of leadership in the small business payments space in the United States, where Intuit’s desktop, Web and mobile payments offerings annually process more than $36 billion in payments. The mobile payment market continues to represent a significant growth opportunity, as evidenced by the continued growth of Intuit’s North American mobile payment offering, GoPayment, in the United States and Canada.

“Intuit has a long history in helping small businesses solve all their payments needs. We understand that getting paid is crucial to their success, and have seen how GoPayment helps their businesses grow,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “The payments opportunity for small businesses in the U.K. is significant, and this pilot is our first step to enabling small businesses around the world get paid – faster and easier.”

Businesses interested in participating in the Intuit Pay pilot should visit www.intuitpay.co.uk.

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About Intuit UK

Intuit is a leading provider of innovative business and financial management solutions. Our customers in the UK are small businesses and their advisors, including accountants and bookkeepers. We help small businesses get on top of their finances and save time on their day-to-day accounting tasks, such as managing cash-flow, dealing with VAT and payroll processing. For accounting professionals we provide the tools and capabilities to more efficiently complete bookkeeping, trial balance, write-up, and financial reporting tasks and help them grow their practice. By offering many services online and on mobile devices, we're connecting customers to our solutions and with each other in ways that add more value to our products. More information can be found at www.intuit.co.uk.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Intuit and the Intuit logo, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

Intuit Pay is a trading name of Intuit Ltd, which is registered with the Financial Services Authority as an approved agent of HSBC Merchant Services LLP. HSBC Merchant Services LLP is authorised by the Financial Services Authority under the Payment Services Regulations 2009 (504290) for the provision of payment services.

Access Communications for Intuit, Inc.
Jen Garcia, 415-844-6244
jgarcia@accesspr.com
or
Intuit (UK)
Scott Rowe, +44 7718 340187
scott_rowe2@intuit.com
or
Intuit
Rachel Mann, 818-436-8345
rachel_mann@intuit.com

Source: Intuit Inc.

Released November 29, 2012