Intuit Drops on Introducing QuickBooks Money

There have been rumblings among holders of Intuit (NASDAQ: INTU). Word came out Wednesday morning that the global technology platform that makes Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, unveiled QuickBooks Money, a new all-in-one payments and banking solution with no monthly fees or minimum balance requirements that gives small businesses complete control of their money from anywhere.

QuickBooks Money builds on QuickBooks’ earlier fintech innovation to deliver the platform’s powerful payments and money management capabilities to small businesses in a streamlined mobile and web-enabled experience without a subscription.

QuickBooks Money brings Intuit’s expertise in financial services to an even wider audience of small business owners who may not initially need the QuickBooks platform’s full range of financial management and accounting capabilities but are still seeking one simple tool to get paid and manage their money end-to-end. As these businesses grow and require additional tools to help manage their business, they’ll have a seamless path to access the full range of solutions the QuickBooks platform offers such as accounting, payroll, workforce management, and more.

Small businesses can open a QuickBooks Money account* in just a few minutes and access it via mobile app or web. It has no monthly fees or minimum balance requirements, and empowers business owners with the ability to: Send a personalized invoice or quick payment request and let customers choose a payment method that’s convenient for them—credit or debit, ACH bank transfer, Apple Pay®, Google Pay, PayPal, or Venmo.

INTU shares lost $1.62 to $544.38.

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