Modulr will fund Intuit’s new QuickBooks business account
By Megha Bhattacharya
Payment as a service platform Modulr today announced that it has partnered with Intuit QuickBooks to power its new QuickBooks business account, a new digital payment account designed specifically for small businesses. The collaboration is expected to allow QuickBooks to combine a business account with its suite of bookkeeping, accounting, and tax tools.
Chris Evans, Vice President and Country Director of Intuit QuickBooks, said, âOur mission at Intuit is to foster prosperity around the world and one of our goals in achieving that mission is to help our small businesses grow. prosper. They fuel our economy and we must do all we can to support them. We believe we can achieve this by placing digital at the heart of their operation.
âIt can automate bookkeeping, bookkeeping and taxation, help manage people, be the center of growth, and make it easier for a business to get money in and out to facilitate cash flow. This is where the partnership with Modulr comes in. This combination of leading FinTechs will energize the way small businesses use QuickBooks to manage their finances, and we’re excited to put this capability in front of our customers to help them pay and get paid.
The QuickBooks Business Account integrates with QuickBooks’ suite of financial management tools to address four of the most common problems small businesses face: administrative burden, cash flow, trust, and late payments .
Myles Stephenson, CEO of Modulr, said, âWe are proud to power the new QuickBooks business account and support Intuit’s vision of reducing the administrative burden on small businesses and their financial lives. We’re dedicated to delivering the superior, digital payment experience that small businesses desperately need in this digital world.
âOur direct access to the Bank of England will give small businesses the confidence, security and reliability they need to focus on what really matters: shaping and growing their business. We want to make payments so easy and reliable that they become an invisible âbehind the scenesâ transaction, which means business owners across the country can continue their business.
Recently, NALA Money, a Tanzanian startup, announced that it has become an agent of the e-money directive through its partnership with Modulr. The development comes ahead of the planned launch of its UK East African Diaspora transfer app. With this launch, FinTech will be able to launch a range of financial services from UK to East Africa.
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