Intuit, a California-based accounting software company has entered into an agreement with Visa to provide improved services to SMEs in India.

Intuit’s QuickBooks is used by over 4.5 million small businesses and accountants globally. This partnership is an outcome of Visa’s strategy to build an ecosystem that enables more convenience, control and cost-savings for SMEs in India. Under this partnership, Visa cardholders will be able to subscribe to Intuit’s QuickBooks and use its features such as the provision of collaboration opportunities with small businesses with Chartered Accountants in real-time.

This new agreement builds upon the existing agreement which was signed back in October 2019 in the United States. Under this existing agreement, QuickBooks and Visa had announced Instant Deposits which enabled real-time payments disbursements for small business owners using QuickBooks Payments into their bank accounts through an eligible card using Visa Direct, Visa’s real-time push payments solution.

“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 innovations and innovative value propositions for SMBs. As cloud-based accounting is gaining tremendous traction in India, we hope to catalyze this trend further through this relationship.” said Country Manager at Intuit QuickBooks India Aditi Puri Batra.

“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,” said Group Country Manager of India and South Asia at Visa TR Ramachandran.