Rania Succar, Intuit

Financial platform Intuit’s QuickBooks has announced a new feature, Instant Deposit that facilitates real-time disbursements for small business owners through its Payments solution using Visa Direct. The supplier states that the partnership will allow Visa Direct’s capabilities will be integrated into the Instant Deposit feature, thus enabling merchants using QuickBooks service to deposit their funds directly into their bank account.

Rania Succar, Vice President and Business Leader, QuickBooks Capital, and Payments at Intuit said, “We’re focused on providing faster funding and accelerating the rate at which payments hit a small business’ account. With the help of Visa Direct’s push payments technology, QuickBooks Payments is now able to deliver a business its money faster than ever.”

Visa Direct’s utilization is expected to assist QuickBooks Payments in providing timely funds to small businesses, thus aiming to mitigate cash flow issues.

Bill Sheley, Senior Vice President, Global Head of Visa Direct, “By partnering with another industry leader like Intuit QuickBooks, we are embedding Visa Direct’s convenient, secure and real-time6 capabilities to help make cash flow problems for small businesses a thing of the past.”

Intuit is a global financial platform with products including TurboTax, QuickBooks, Mint and Turbo, which aim help consumers, self-employed and small businesses to improve their financial lives. QuickBooks Payments’ platform offers merchants ways to receive funds and deliver funds in real-time.

by Megha Bhattacharya
Market Analyst at IBS Intelligence