by Cheryl Manalo - August 17, 2009
Want to get paid? Yet tired of making endless trips to the bank to deposit checks? Or paying hidden fees for online payment services?
Well, we’ve recently rolled out Intuit PaymentNetwork, a pilot online payment service for small businesses that lets you process payments for one simple fee: 50 cents. That’s it, no other fees. And Intuit PaymentNetwork also lets you pay your vendors, partners and suppliers online for free as long as they are part of the Intuit PaymentNetwork.
Here’s how product manager, Chetan Sukthanker, describes it:
“This online payment service is really simple — unlike its competitors or other payment methods. There are no set-up costs, monthly fees, or confusing statements and it simply costs you 50 cents each time you get paid. Best of all, the sign-up process only takes five minutes and you can add up to three bank accounts to your PaymentNetwork account.”
Intuit PaymentNetwork is from our Intuit Payment Solutions division, which specializes in providing merchant services to small businesses. This division also develops a variety of easy-to-use payment products and services, such as GoPayment for your mobile phone, to help you easily and quickly process customer payments.
So what’s the bottom line? Intuit PaymentNetwork saves you time and money by helping you pay and get paid for less than any item on a McDonald’s value menu. So if you’re looking for a simple and affordable way to process payments, check out Intuit PaymentNetwork.
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Signed up for a personal account online - very easy/quick process. Went to send funds to a colleague, who had also signed up for a personal account online. The transfer to my colleague wasn’t accepted - turns out that personal accounts are not able to receive funds - only small business accounts may receive funds. Don’t understand the logic for this limitation - should be able to send funds to other personal account holders.
Thank you for your comment. This is a pilot version so feedback like yours will help us fine-tune the service. Intuit PaymentNetwork is designed for small businesses who want to pay each other or have their customers pay them. We have not built a functionality for consumers to send payments to each other as of yet.