Bookkeeping-software provider Intuit has joined forces with Visa to boost its offering for SMEs in India.
Under the agreement in India, Visa users can subscribe to the features of Intuit QuickBooks.
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These features are anytime and anywhere data access, GST compliance, expense and document management, as well as automated bank reconciliation, among others.
SMEs tapping Intuit QuickBooks can also team up with their chartered accountants in real-time.
The tie-up is aimed at creating joint value propositions and thought leadership.
It aligns with Visa’s plan to facilitate cost-savings for India-based SMEs and Intuit’s plan to enter into strategic partnerships with financial providers across the globe.
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By GlobalDataVisa and Intuit are already partners in the US, where they have launched the Instant Deposit feature for SMEs.
Using this feature, businesses utilising QuickBooks Payments can directly access their money with their eligible debit card via Visa Direct.
Visa group country manager for India and South Asia TR Ramachandran said: “SMEs in India seek not just innovative solutions for their businesses but distribution access, network strengths and ways to automate payments.
“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.”
Last week, Intuit announced that it will acquire consumer technology platform Credit Karma in a cash-stock deal worth around $7.1bn.
Intuit has data-sharing agreements with various major banks. These include U.S. Bank, BMO Financial Group, Lloyds Bank, and Wells Fargo.
