Expanding its Reach
A popular accounting software package, Intuit QuickBooks has recently partnered with Visa, the World’s leading card network. Intuit aims to strengthen its strategy for small and medium-sized business (SMB) customers in India. Over 4.5 million small businesses and accountants use Intuit’s QuickBooks Online. For QuickBooks, this partnership with Visa is the first of its kind. It stems from the firm’s global plan to create strategic partnerships with additional firms that provide financial services. Visa’s scheme to generate a network that allows for expanded convenience, control and cost savings for SMBs in India is reflected in this collaboration.
Catalyzing Cloud-based Accounting
SMBs will collaborate with chartered accountants in real-time as Visa cardholders in India can subscribe to Intuit QuickBooks. “This is an important strategic relationship for us in India. We are delighted to be collaborating with Visa, which apart from being the world’s leading card network, is known for its technology innovation and innovative value prepositions for SMBs,” said Aditi Puri Batra, country manager for Intuit QuickBooks India. “As cloud-based accounting is gaining tremendous traction in India, we hope to catalyze this trend further through this relationship,” she further added.
Expansion of the Existing Collaboration
Through this collaboration, the Instant Deposit feature allows SMBs that use QuickBooks payments to make real-time disbursements into their bank accounts through an eligible card via Visa Direct. It is Visa’s real-time push payments solution. “SMEs in India seek not just innovative solutions for their businesses, but also distribution access, network strengths and ways to automate payments,” said TR Ramachandran, Visa’s group country manager for India and South Asia. He added, “We are glad to extend our existing collaboration with Intuit QuickBooks in the United States to India and bring Visa’s world-class commercial solutions to small businesses and drive growth for the segment.”
