Mophie, best known for their juice-carrying iPhone cases, is partnering with Intuit to bring card solution capabilities to anyone with an iPhone.
Appropriately dubbed the Complete Card Solution for iPhone, the $179 unit includes a card-swiping phone case and Intuit’s GoPayment app. All you need is 15 minutes for the verification procedure and you can start swiping for lunch payments and bar tabs.
Target Audience and Use Cases
The target clients seem to be professionals in the service sector like electricians and plumbers, though it’s more likely to be used by on-the-go merchants who want to expand to taking credit cards. For instance, food truck vendors, market stall owners, and freelance photographers could greatly benefit from this technology. Maybe even concierge doctors will be using this soon, allowing them to accept payments directly after a home visit.
The convenience of being able to accept card payments anywhere can significantly enhance customer satisfaction and potentially increase sales. Imagine a scenario where a customer wants to purchase an item but doesn’t have enough cash on hand. With the Complete Card Solution, the sale can still go through seamlessly.
Costs and Considerations
There’s a catch though: monthly fees are at $12.95 and transaction fees are between $0.30 and $0.34. You also have to think of the cut they are taking; 1.7 to 3.7 percent of the final payment, depending on the type of card used. These fees can add up, especially for small businesses with tight margins.
However, it’s important to weigh these costs against the potential benefits. For example, the ability to accept credit card payments can attract more customers who prefer to pay with plastic rather than cash. This could lead to increased sales volume, which might offset the fees involved.
Moreover, the Complete Card Solution offers a level of professionalism that can enhance a business’s reputation. Customers are likely to trust and feel more comfortable with businesses that offer multiple payment options, including credit card payments.
There’s clearly a need for these solutions, but at the moment, it will likely only attract businesses that can afford the solution’s high investment requirement. But as they say, if you want to grow, you have to keep up with the times. The initial investment might seem steep, but the long-term benefits could be substantial.
Additionally, as technology advances and competition increases, we might see a reduction in these costs over time. Early adopters of such technology often pave the way for more affordable solutions in the future.
In conclusion, Mophie and Intuit’s Complete Card Solution for iPhone is a promising tool for businesses looking to modernize their payment methods. While the costs involved may be a barrier for some, the potential benefits in terms of increased sales, customer satisfaction, and business growth make it a worthwhile consideration for many.
via Engadget
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