Written by Scott Fair Thursday, 18 November 2010 12:52
Why is GoPayment a better choice than Verifone's Payware Mobile system?
Recently, two mobile payment systems have come to light, which allow credit card processing through mobile phones. Intuit, the makers of Quicken, QuickBooks, TurboTax, QuickBooks Point of Sale, and the new Free POS, released GoPayment. Verifone released Payware mobile.
After digging dipper, here is what we discovered.
Monthly fees: GoPatment is currently $ 12.95 a month. Payware mobile is $ 20.00 per month.
Setup Fees: GoPayment has no setup fee, Payware charges $ 45.00.
Transaction fees: There is a difference of 0.1% between the two, that is not a tremendous amount.
Track record: Payware is new, we were not able to see a long term track record. GoPayment has been operational and processing for over 20 months, and has already processed more than $ 54 million dollars in payments.
Compatibility: From the information we were able to gather, it appears the Payware system is designed around the iPhone 3g. GoPayment which works on more than 40 devices (including iPhone, Blackberry and Android handsets) and offers a mobile web site solution for any web-enabled mobile phone.
Both systems have a card reader attachment for the iPhones, but we know that GoPayment has Bluetooth readers available for other systems also.
One last important feature, GoPayment integrates with the QuickBooks Accounting software. We have not been able to ascertain if the Payware system has this capability. Our assumption is that is does not, as this would have been an advertised feature.
All in all, both systems allow the processing of Credit Cards via the phone and a downloaded ( or in the case of GoPayment, a web-based location). Both have comparable rates for processing. But with the lack of setup fees, higher number of compatible phones, and smaller monthly fee, we are going to have to give the nod to GoPayment as a more economical solution at the time of this writing.
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