Intuit acquires AisleBuyer to boost GoPayment m-commerce platform

Intuit has acquired mobile commerce startup AisleBuyer. Financial terms were not disclosed, but reports indicate the purchase price reached the $80 million to $100 million range.

The AisleBuyer point-of-sale platform targets retailers, restaurants and grocery stores. AisleBuyer mobile applications include mShop, which allows smartphone users to scan barcodes to access product information, read customer reviews and make purchases, as well as mClerk, which enables employees to scan items, apply coupons and accept credit card payments anywhere in the store via tablet.

Best known for business and financial management solutions like QuickBooks, Quicken and TurboTax, Intuit processes more than $21 billion in annual transactions for approximately 300,000 small business partners. Its GoPayment m-commerce solution competes head-to-head with services like Square and PayPal Here; the GoPayment reader plugs into the audio jack of any supported smartphone or tablet, enabling merchants to swipe or manually enter consumer credit and debit card transactions.

Intuit charges 2.7 percent per GoPayment swipe and 3.7 percent for a keyed transaction. A premium version is available for $12.95 a month and offers a 1.7 rate percent for swiped transactions and 3.7 percent for keyed transactions. Operator partners including Verizon Wireless (NYSE:VZ) and AT&T Mobility (NYSE:T) now offer GoPayment to their subscribers.

For more:
- read this PCMag.com article

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