Intuit and PayPal Partner to Help Small Businesses and Self-Employed Get Paid Faster
October 24 2016 - 8:30AM
Business Wire
QuickBooks Online Customers Can Use PayPal To
Improve Cash Flow And Seamlessly Manage Their Books
Intuit (Nasdaq:INTU) and PayPal (Nasdaq:PYPL) today announced
the expansion of their partnership, helping small businesses and
the self-employed get paid faster. The partnership will provide
QuickBooks Online customers with a new way of accepting payments
via PayPal, and automate the work traditionally associated with
managing the books.
“We are thrilled to partner with PayPal to help small businesses
and the self-employed get paid faster and easily manage their
books,” said Vinay Pai, vice president and head of the Intuit
Developer Group. “This is a great example of the power of the
QuickBooks platform. By delivering deep integrations with leading
solutions like PayPal, we’re giving our small business and
self-employed customers the ability to get paid faster and
seamlessly connect all of the data that flows in and out of their
business.”
“Both Intuit and PayPal are committed to helping our customers
grow and succeed. With this extension of our partnership, we’re
excited to empower small businesses with access to the tools they
need to get paid faster,” said Steve Fusco, VP & GM NA
Distribution, PayPal. “In minutes, small business owners can create
an invoice in QuickBooks Online and customers can pay with credit
cards, debit cards, and now, with PayPal. This is a huge win for
small business owners and accountants who want to improve cash flow
management and save time.”
Helping Small Business Get Paid Faster
The partnership will include a deep integration with QuickBooks
Payments for customers in the US and Australia. This will enable
small business customers to receive payments on eInvoices from
their customers via PayPal in addition to existing methods, such as
credit card or bank transfer. The simplified design integrated into
the QuickBooks eInvoice makes it easier to get paid, streamlining
payment in a few minutes without leaving the invoice. Furthermore,
QuickBooks users can tap into 188 million global customers who are
looking for PayPal as a way to pay.
This is an expansion of an integration first launched in
Australia in November 2015. Since then, thousands of Australian
businesses have connected QuickBooks and PayPal to get paid. Intuit
data found that QuickBooks Online customers connected to PayPal in
Australia were paid on average twice as fast.
Making It Easier to Manage the Books
In addition to helping QuickBooks customers get paid, the
partnership will simplifies accounting by automatically importing
PayPal transactions directly into QuickBooks. Key benefits for
small businesses:
- Save time by seamlessly importing
PayPal payments and fees into QuickBooks; removes need for manual
entry and saves small business owners’ time.
- Simplify tracking of unpaid invoices
because invoices are automatically marked “paid” when a customer
pays via PayPal
- Update data by ensuring valuable
customer information is up-to-date in one convenient place by
automatically syncing customer information from PayPal into
QuickBooks.
- Securely downloads other transactions,
such as expenses and bank transfers, into default categories within
QuickBooks.
- Improve accuracy by eliminating manual
data entry errors and helps increase accuracy through automatic
imports.
“My domestic cleaning business requires me to be on the go,
giving me very little time to manage my finances,” said Gaynor
Thompson, owner of Western Australian small business, Glistening
Homes. “I love using PayPal with QuickBooks as it eliminates a lot
of unnecessary headaches for me and my clients. My clients can
click on the link in the invoice to make a payment, instead of
having to log on to their bank account – it’s easier and saves them
time. What’s in it for me? I get paid faster and my accounting is
completed all in one place.”
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its flagship products and services
include QuickBooks® and TurboTax®, which make it
easier to manage small businesses and tax preparation and
filing. Mint provides a fresh, easy and intelligent way
for people to manage their money, while Intuit's
ProConnect brand portfolio includes ProConnect
Online, ProSeries® and Lacerte®, the company's leading
tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.7 billion in its
fiscal year 2016. The company has approximately 7,900 employees
with major offices in the United States, Canada,
the United Kingdom, India, Australia and other
locations. More information can be found
at www.intuit.com.
About PayPal
At PayPal (Nasdaq:PYPL), we put people at the center of
everything we do. Founded in 1998, we continue to be at the
forefront of the digital payments revolution. PayPal gives people
better ways to manage and move their money, offering them choice
and flexibility in how they are able to send money, pay or get
paid. We operate an open, secure and technology agnostic payments
platform that businesses use to securely transact with their
customers online, in stores and increasingly on mobile devices.
In 2015, 28% of the 4.9 billion payments we processed were made
on a mobile device. With our 192 million active customer accounts,
PayPal is a truly global payments platform that is available to
people in more than 202 countries, allowing customers to get paid
in more than 100 currencies, withdraw funds to their bank accounts
in 56 currencies and hold balances in their PayPal accounts in 25
currencies.
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version on businesswire.com: http://www.businesswire.com/news/home/20161024005498/en/
Intuit Inc.Zoey Farooq,
650-944-4839zoey_farooq@intuit.comorAccess Emanate
CommunicationsJen Garcia, 415-844-6244jgarcia@accesspr.com
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