News from the Wire

GoPayment offers Intuit GoPayment prepaid card

Tuesday, December 20, 2011 — 12:15:39 (EST)

Mountain View, Calif., Dec. 20, 2011 -- GoPayment now does more than help make it easy to accept electronic payments. It also gives small businesses and anyone who sells products or services a convenient way to receive and spend the money they've earned.

As part of its GoPayment mobile payment offering, Intuit Inc. INTU +3.63% today announced the recent launch of the Intuit GoPayment Prepaid Visa Card. The card expands Intuit's strategy beyond processing credit cards on a mobile device to offering the convenience of a Visa prepaid account linked to GoPayment.

The GoPayment Card makes it easy for users to have the funds they collect with GoPayment deposited into their GoPayment Card account. They can then use the card to make payments online, in stores and withdraw cash at ATMs everywhere Visa debit cards are accepted (some fees may apply).

The card is ideal for smaller businesses or individuals who don't have a business bank account and still want to conveniently separate the money they make with GoPayment from their personal finances. It can also help them get up and running quickly as there is no bank account required to sign up. Those who prefer using a business or personal bank account can still choose to have their funds deposited into their bank account.

"The GoPayment Card adds new value to those using GoPayment. In addition to helping them get paid, we're helping them make payments," said Chris Hylen, vice president and general manager of Intuit's Payment Solutions division. "This is just the beginning. Intuit will roll out new, innovative features for GoPayment that help users make payments in a variety of ways."

The GoPayment Card is a good option for many types of small and personal businesses, including Nathan Lipson, who owns Metrocycle Pedicabs in Austin, Texas.

"Most of my riders don't have a business bank account and primarily use cash," said Lipson. "Having a prepaid card makes it much easier for them to sign up and use a service like GoPayment and gives them another option to make payments."

Pricing and Availability

The GoPayment Card has no signup or monthly maintenance fees and offers one free ATM cash withdrawal each month as well as one free transfer of funds from the card to a bank account via ACH each month. The GoPayment Card is available exclusively to GoPayment users by signing up at GoPayment.com or via the GoPayment app. The physical card will arrive in the mail generally within seven to ten business days. In the meantime, users can start accepting GoPayment credit card transactions and the funds will be deposited into their GoPayment Card account generally within two to three business days. The Intuit GoPayment Prepaid Visa Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and can be used wherever Visa debit cards are accepted. The Bancorp Bank; Member FDIC. Some fees may apply. More information is available at www.GoPaymentCard.com and www.GoPayment.com .

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks(R), Quicken(R) and TurboTax(R), simplify small business management and payment and payroll processing, personal finance, and tax preparation and filing. ProSeries(R) and Lacerte(R) are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com .

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.