According to foreign media reports, Intuit has just acquired AisleBuyer, a consumer self-checkout application. AisleBuyer is a mobile shopping assistant app that allows shop customers to pay directly through mobile phones without having to wait in line for checkout. The acquired AisleBuyer members will also be integrated into Intuit's payment technology R&D team, and AisleBuyer's technology in the payment field will also be used to enhance Intuit's current point-of-sale terminal solutions and use Intuit as a powerful competitor to Square. GoPayment mobile payments are integrated into the cloud.
The company revealed that the solution will be open to Intuit's own developers and third-party developers.
This news was only an industry rumor, but AisleBuyer CEO Andrew Paradise has confirmed it on the company blog.
AisleBuyer product introduction page
He wrote on the blog like this:
I am very happy to tell you that the rumor about this acquisition is true! AisleBuyer has just joined the Intuit team to help the company develop higher performance payment solutions to meet the needs of the small business mobile point-of-sale business. AisleBuyer has the technical and talent advantage in this area, and by working with the same outstanding payment technology team as Intuit, it will continue to work to build the world's best small business POS solution.
In the past three years, we have received a lot of support and help from the Boston startup community. The company is about to enter the next stage of development. At this time, we are fortunate to continue to work in the creative area of ​​Boston. We can't wait to join hands with new partners to create a mobile terminal network payment business. Thank you for your support. We will take this fascinating opportunity to move forward, which makes us excited.
For those who don't know much about AisleBuyer, it's worth mentioning the background. AisleBuyer now has three versions of Phone, Android and BlackBerry, which allows shoppers to save time waiting in line or self-checkout in the store, and just pay for direct credit card payments on mobile phones. Previously, it required the user to manually enter credit card information. Later, the company upgraded the service, and the user simply entered the credit card information based on optical character recognition technology (OCR).
In addition, AisleBuyer allows shoppers to scan product barcodes for more product information, view ratings and comments, and even order products directly from the official website, then wait for the product to arrive home.
On the other hand, AisleBuyer provides retailers with scan-based analytics data, for example, which can show merchants which scanned products have not been sold.
It is obviously wise for AisleBuyer to agree to be acquired by Intuit. GoPayment, a payment product of Intuit, has been in fierce competition with competitor Square. Not only is it evenly matched with Square in every transaction fee, but it also grabs Canada before the start of Square at the beginning of the year. market. By integrating AisleBuyer's technology, GoPayment will have a more interesting selling point, businesses can not only accept payments through mobile phones, but also save face-to-face interaction. Square has long been involved in this field based on geo-fence technology. Within 100 meters of the Square business, shoppers can pay by simply saying their name when they pay.
By integrating AisleBuyer commodity barcode scanning technology and merchant-based scanning and tracking technology, Intuit can better serve its business audience, namely private sellers who cannot afford the cost of credit card payment terminals and small and medium-sized businesses who want to provide mobile payment models. .
Both parties have been working together for some time to explore the possibility of integrating two payment solutions. However, an Intuit spokesperson said, "We later realized that this kind of cooperation is not very effective. If the two companies merge together, it will speed up the project."
However, after the acquisition, AisleBuyer employees will continue to work in Boston, and Intuit team members will continue to work in Mountain View in Palo Alto.
The company did not disclose the details of the acquisition. AisleBuyer completed the E round of financing of $7.5 million in June last year. The investment institutions include Old Willow Partners and LLC (who once led AisleBuyer's first round of financing in 2010). So far, AisleBuyer’s accumulated financing amount has reached $11.5 million.
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