Intuit and Adyen partner to accelerate payment solutions for SMBs

By Gloria Methri

Intuit Inc., the global FinTech platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has collaborated with Adyen to help small and mid-market businesses (SMBs) more easily manage electronic payments. The two companies will initially integrate Adyen’s embedded payment services into Intuit’s business platform through QuickBooks Online (QBO) which enables approximately 2.9 million invoices to be sent monthly in the UK.

According to the Federation of Small Businesses and the UK Government, late payments cost UK SMBs an average of £22,000 annually and contribute to 50,000 business closures each year due to cash flow issues. With Adyen, Intuit Quickbooks customers will enjoy a wider choice of payment options. SMBs will receive their funds fast thanks to Adyen’s UK banking license and direct connection to the real-time payment rails Faster Payments Services (FPS).

Intuit QuickBooks financial software is delivered as part of Intuit’s business platform. Serving 6.5 million subscribers, it helps sole traders and SMBs grow and run their businesses all in one place, including managing their books, getting paid and managing cash flow.

Intuit QuickBooks UK already integrates with popular payment platforms to accommodate a range of merchant services that help reduce customer payment friction. By embedding Adyen’s payment capabilities and locally approved Adyen entities for payment services, Intuit lays the groundwork for integrating broader embedded financial products into its software in the future.

Nick Williams, Product Director at Intuit QuickBooks, said, “We are thrilled to team up with Adyen so businesses can benefit from end-to-end financial management on our platform. Adyen’s payment platform is designed to provide a seamless payment experience for merchants and their customers, and we are pleased to bring this capability to our users, improving the convenience of money movement on QuickBooks Online. We conducted a rigorous selection process and chose Adyen due to their fast settlement times, comprehensive risk tools, and market-leading position.”

Hemmo Bosscher, SVP of Platforms & Financial Services at Adyen, said, “This collaboration combines Intuit’s top-tier financial tools with Adyen’s cutting-edge embedded financial technology, empowering SMBs across a range of industries with optimised payment experiences, simplified everyday operations, and new growth opportunities. Together, we’re equipping SMBs with tools to thrive in an increasingly digital economy.”