Verizon, Intuit team up for mobile payments


Verizon Wireless and Intuit are teaming up for mobile payments. (Courtesy of Verizon)

Verizon will sell the Intuit Reader smartphone accessory in its retail stores. The Reader plugs into the audio jack of most Android phones, BlackBerrys, the iPhone and the iPad.

The product rollout is intended to make it easy for small-business owners and others to process mobile payments, likely boosting sales of smartphones.

The data collected by the reader is not stored on the phones and iss encrypted once by the card reader and once by the GoPayment app.

Verizon customers can get the accessory for free via a mail-in rebate for the $29.97 purchase price. The basic service has no monthly fees and chargest 2.7 percent per transaction. A paid, $12.95 per-month program charges 1.7 percent per transaction.

The accessory requires a nationwide voice plan, starting at $39.99 per month, and a $30, 2GB per month data plan from Verizon.

Verizon and Intuit are entering into a fast-growing field of mobile devices, with Google Wallet rumored to launch sometime in September and Square payments — a similar device — already heating up in the space.

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Hayley Tsukayama covers consumer technology for The Washington Post.

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