Intuit the makers of QuickBooks financial software, announced Intuit GoPayment. GoPayment is the software that allows businesses to process credit cards on their mobile phones without the need for a costly portable credit card processing terminal.

GoPayment allows much more than just collecting payment. It also allows users to track their Quickbook account to input different types of information, like invoicing and also synchronize the details with your home computer.

GoPayment is available for all mobile phones with internet connection on their mobile phones. Apart from that, they have also release an application for certain mobile phones like blackberry et cetra. The list of supported phones can be found here. The interesting part is, the company is also offering optional Bluetooth equipment that will connect to cell phones wirelessly, allowing users to swipe a credit card, instead of just inputting in the information, and even print a receipt.

The new service is part of Intuit’s mobile strategy for small businesses. A survey by the company found that overdue payments in the Account Receivables file is a growing concern. In addition, nearly 40 percent of the respondents said they saw an increase in sales after giving customers the option to pay by credit card.

The service costs $19.95 per month along with transaction fees and a one-time setup fee of $59.95.

Well if you think is it, then no. Just few days back Bango launched similar service called Bango Credit Card Payment.

So lets hope for more competition and let many more companies explore the mobile credit card payment process and the users benefit.