Intuit Inc. purchased mobile-commerce provider AisleBuyer, a move that adds to Intuit's offerings of mobile-payment services.
The deal was pegged at $80 million to $100 million, but Intuit did not confirm that report.
AisleBuyer provides free apps for Apple iPhones and handsets for Android and Blackberry. Its apps, mShop and mDine, allow consumers with smartphones to check out at stores and pre-order and prepay.
AisleBuyer's technology allows Intuit to create small-business solutions, the company predicted. Intuit already has its own system, GoPayment, which is a mobile payment system tied to its card-reader attachment for smartphones. It also runs QuickBooks accounting software.
In acquiring AisleBuyer, Intuit is beefing up its mobile payments. Approaching the entire ecosystem of mobile payments, including the offers, pre-ordering, checkout and receipts, is the right play and will ultimately lead to a better consumer and small-business experience, said a payments processing expert at US Dataworks.
Intuit's acquisition of AisleBuyer goes along with the company's acquisition of Mobile Money Ventures mobile-banking assets last year.
There is still a lot of work to be done in this space, and the first to market with the killer solution is going to win in a big way, the expert added.
Source: PaymentsSource, April 2012