Mobile payment titans – Paypal, Intuit and Square, are moving to Europe in their battle of mobile payment domination.
Intuit has finally launched its mobile device-based card payment service, Intuit Pay, in the UK and this gives Intuit a key opening battle advantage, as its chief competitors are yet to release their offerings in the U.K. PayPal is working toward unveiling its mobile payment service in the U.K. this year, the company hasn’t yet done so. And neither has Square.
Interestingly, the Intuit service is the youngest of its three competitors as it was only announced in November 2012. However launching in the UK is just the beginning. Terry Hicks, VP of products for Intuit’s global business division, told TechCrunch in an interview that the intention is to use the UK as the first market ahead of a wider European and worldwide rollout.
“We think of Intuit Pay as part of an operating system, one that includes QuickBooks but other products, too,” Hicks tells TechCrunch. “Intuit Pay embraces the fact that it provides a one-stop shop. Once you sign up, you get all the invoice, payment, offline, mobile invoicing included.”
It’s impossible to say who will win the mobile payment wars worldwide however the first salvo has been fired.. But industry watchers believe that Intuit, Square, and PayPal will be duking it out for the remainder of the decade as mobile payments begin to grow into a continent-wide consumer phenomenon. What we can expect from this is a rebuttal from banks and other major payment providers so the war is just hotting up.