T-Mobile expands into mobile payments

T-Mobile is “putting Square and Clover on notice” with the launch of its GoPoint mobile point of sale (mPoS) solution, offering free same-day funding and no software licensing fees.

The telecoms provider is also promising merchants 24/7 live technical support from a real person and the Business Marketplace suite of mobile device management and productivity software.

“When we looked at the insidious practices and never-ending fees mobile point of sale providers charge small businesses we knew the Un-carrier needed to step in,” said Mike Katz, executive vice president of T-Mobile for Business. “Not surprisingly, paying fees on top of fees and waiting days for their hard-earned money is a big pain point, particularly for small businesses.”

Businesses pay 2.75 per cent for debit and credit card transaction processing and are eligible for free funding on the same day. Unlike other mPoS providers, T-Mobile also stated that one GoPoint account provides up to 99 employees with the tools, reporting and insights they need to manage sales transactions and track inventories.

For its entry into the mobile payments space, T-Mobile partnered with global payments provider TSYS to power the software, transaction management and same day funding.

T-Mobile’s new Business Marketplace provides advisors to help business customers choose from options like Microsoft Office 365, Intuit QuickBooks Online, DocuSign Business Pro, IBM MaaS360 and VMware AirWatch Express, alongside onboarding guidance and support.

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