As the consumer shift to contactless payments becomes permanent, Intuit (Nasdaq: INTU) QuickBooks is introducing QuickBooks Card Reader, a new innovative payments device designed for today’s small business owners. Integrated with QuickBooks Payments, which processes more than $65 billion in volume annually, the card reader is the latest fintech offering to help small businesses get paid faster, no matter how or where they work.
In designing this new device, Intuit made use of insights from small businesses to re-imagine the mobile card reader and create an offering that addresses current gaps in the market. Existing mobile card readers have little or no communicative elements – at most a few indicator lights – and they lack interactive elements that guide the merchant and consumer through the checkout experience. The new QuickBooks Card Reader puts clarity and communication front and center through the intuitive design, featuring an industry-first LED display on the reader that displays many aspects of the checkout journey - from charge amount, to adding a tip, to a successful transaction.
This new 'QuickBooks Card Reader' comes at a critical time for small businesses who are increasingly looking for mobile payments offerings that meet their needs. A significant percentage have adopted new payment methods or mobile payments altogether since the start of the pandemic, according to a recent study by Intuit QuickBooks. Intuit is introducing the QuickBooks Power Stand, a complementary and uniquely designed device which will wirelessly charge the new reader and give small businesses a countertop payments hub either in store or on the go. It can also be used to charge a phone or tablet using the built-in USB port.
With $65B in annual payment volume through QuickBooks Payments already, these offerings should continue to expand QuickBooks’ leadership in small business payments – from invoicing to in-person transactions.
QuickBooks Card Reader and Power Stand were designed by Intuit and its development partners and feature exclusive elements for which design patents are pending. Box Clever was a close partner in the design of the hardware and QuickBooks Card Reader is based on proven payments technology from BBPOS.
QuickBooks Payments customers can now purchase QuickBooks Card Reader for $49 on the QuickBooks website. QuickBooks Power Stand will be available later this Summer for $39, and both devices will be available as a bundle for $79.
Intuit Product Related Disclosures:
Information provided is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision.
"Instant Deposit" is an additional service offered by QuickBooks Payments subject to eligibility criteria. Standard rates apply for ACH, swiped, invoiced, and keyed card transactions. Deposits are sent to the bank account linked to your QuickBooks Debit Card in up to 30 minutes. Deposit times may vary for third party delays.