Intuit QuickBooks Delivers Faster Payments to Solve Small Business Cash Flow Issues

QuickBooks continues to add features to the QuickBooks platform to solve the cash flow crunch problems that plague small businesses. Over the past year, Intuit has leveraged the power of the QuickBooks platform and machine learning to deliver money faster to its customers through innovations such as same day payroll1 and next day payments for credit card payments. Today, QuickBooks announced the ability for small businesses to get paid the next day from ACH payments easily and affordably, ensuring small businesses can improve cash flow no matter the payment they accept. The importance of quick and affordable payments processing for small businesses and cash flow management is underscored by a recent survey conducted by Intuit that found that nearly a third (31%) of small businesses estimate it takes more than 30 days to get paid by customers, clients, vendors or banks. Affordability in electronic payments also matters a great deal for small businesses. According to an October 2018 survey conducted by QuickBooks, almost half of small businesses surveyed accept payments through cash and check and the biggest barrier to moving to electronic payments is the cost, which can cut into the very thin profit margins of small businesses. QuickBooks Payments is focused on meeting the needs of small businesses around speed of payment and affordability. Today, QuickBooks Payments processes $37B in volume, which reinforces the company’s leadership in processing small business payments. This latest innovation in machine learning, risk and data insights delivers benefits like next day deposit and affordable processing, while helping to protect small businesses from fraud.