Intuit has launched QuickBooks Payments, a new platform within QuickBooks Online that allows users to email customised invoices and include a ‘Pay Now’ button.
The Pay Now button lets customers pay online through card payment directly within the invoice.
The business’ accounts are then updated automatically as soon as an invoice has been paid.
In addition to this new feature, QuickBooks Payments also allows customers to pay users over the phone. There are more features in QuickBooks Payments platform to be rolled out in the future.
Intuit has offering a similar service in the USA since 2003 - featuring behind the scenes coding to deal with tax reconciliaitons and credit card service charges. For US users, QuickBooks Payments links to QBO with a big “Pay Now” link which ensures that the receivable is banked from the client immediately, and passed through to the books.
The UK payments initiative will see QuickBooks come up against Sage Pay, which has been around for awhile on this side of the Atlantic. Payment services carry a risk for the providers on payments which they have to collect, but both software houses make a lot of money from this.