Dutch payments company Adyen has collaborated with fintech platform Intuit which is behind products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp.

This partnership will integrate Adyen's payment services into QuickBooks Online, a move said to enhance the payment experience for nearly 2.9 million invoices sent monthly in the UK through the platform.

Intuit QuickBooks customers will benefit from a variety of payment options and swift fund transfers by leveraging Adyen’s UK banking licence and direct access to the Faster Payments Services (FPS).

QuickBooks is a business platform that assists sole traders and SMBs in managing their finances, receiving payments, and overseeing cash flow, serving 6.5 million subscribers.

Globally, Intuit’s products are used by 100 million customers daily, offering a suite of tools that aim to increase customers, revenue, and provide AI-powered insights for business growth.

The initial integration will offer several the automation of financial processes, multiple payment options for invoice settlement, error reduction, and tracking of accounts receivable.

Intuit QuickBooks product director Nick Williams said: “Adyen's payment platform is designed to provide a seamless payments 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."

Adyen platforms & financial services SVP Hemmo Bosscher stated: “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.”

In August 2024, Adyen expanded its operations to India after receiving authorisation from the Reserve Bank of India (RBI) to function as an online payment aggregator for both domestic and cross-border transactions.

"Adyen partners with Intuit to enhance payments for UK SMBs " was originally created and published by Electronic Payments International, a GlobalData owned brand.

 

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