Intuit recently soft-launched their new payment network called, appropriately, the Intuit PaymentNetwork.  The Intuit PaymentNetwork is billed as a “new and affordable way to send and receive payments over the internet for individuals and small businesses.” This would seem to put Intuit onto PayPal’s radar in a big way.

The Intuit PaymentNetwork charges $0.50 per payment received for any amount of money* for small businesses that use the network. There are no monthly charges or equipment charges or set-up costs.  Depending on what one’s average transaction size is this could be a fantastic payment method to employ.

The Intuit PaymentNetwork works in a similar way to PayPal in that it utilizes email addresses as identifiers.

For more info please check out the Intuit Small Business United blog.

*There are some restrictions.

(via Payments News)