Mobile Wallet - Intuit Go Payment, Photo: ElectroPig

According to the Market Intelligence Center, the number of global mobile phone subscribers is expected to grow to approximately 3.3 billion users by 2010. As more and more retailers develop m-commerce sites (mobile versions of their websites optimized for smart phone), the concept of “mobile wallets” is starting to spread.  With a mobile wallet, consumers can pay for everything from morning coffee to retail purchases via their mobile handsets.

Intuit is applying the mobile payments to the collection side of the e-commerce equation with the hope of allowing smart phones to process payments as if they were credit card terminals.  Intuit’s GoPayment app gives a retailer (and up to 50 sales representatives’ mobile devices) access to portable credit card processing terminals. GoPayment is also available via the web.

GoPayment costs $19.95 a month and requires a one-time merchant account setup fee of $59.95. Transaction pricing ranges from 1.64 to 3.54 percent with no long-term contracts.

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