Intuit has announced the latest addition to its QuickBooks line of offerings, Money By QuickBooks, which will help small and medium-sized business (SMB) owners gain more control over their money, according to a press release emailed to PYMNTS.
The mobile application will allow SMEs to better manage their money, accept payments and manage expenses, the statement said.
The app allows users to request and accept ACH debit, credit and wire transfer payments, without their customers needing to download the app, the statement said. Users can access company cash anywhere, anytime with no fees for same-day deposit once payment is accepted through the app or through the QuickBooks Visa business debit card .
The app also tracks income and payments, which could help SMEs make better financial decisions, the release said.
“The pandemic has pushed the number of small business start-ups to historic highs, and we have a unique opportunity to extend the reach of our financial services expertise to even more new entrepreneurs,” said the chief executive officer. Intuit QuickBooks Money Offerings products. Rob daniel in the output. “These small businesses tell us they want FinTech to help them feel in control of their money and cash flow, whether it’s getting paid quickly or having greater visibility on their finances. Money by QuickBooks does just that and puts these tools in the hands of small businesses, enabling them to lay the foundation for growth and success.
Intuit, which makes QuickBooks and other products, announced in September a $ 12 billion deal to purchase Mailchimp, a marketing and customer engagement platform for small businesses. The agreement will help Intuit strengthen its growth as an SME.
Read more: Intuit agrees to acquire Mailchimp for around $ 12 billion
Mailchimp has more than 13 million users worldwide, including 2.4 million monthly active users and 800,000 paying customers. Half of them are outside the United States