Intuit

Intuit announced the release of a new app designed to help entrepreneurs, freelancers, and others manage their payments and expenses. 

The Money by QuickBooks app is available for free on iOS and Android, providing users with an easy-to-use platform for various financial services. The app allows users to pay bills, manage debit cards, accept payments and more.

Intuit said the app was designed for small business owners who "may not yet need our platform's full range of accounting capabilities but are still seeking powerful tools to manage their money end-to-end." 

Rob Daniel, director of product management for Intuit QuickBooks Money Offerings, said the pandemic has driven the number of small business starts to historic highs. He noted that Intuit wanted to expand the reach of its financial services expertise to more new entrepreneurs.

"These small businesses tell us they want fintech to help them feel in control of their money and cash flow, whether that's getting paid quickly or having greater visibility into their finances," Daniel said. "Money by QuickBooks does just that and puts these tools right in the hands of small businesses allowing them to lay the foundation for growth and success."

There are no monthly fees and no minimum balance requirements to use the app. 

Intuit said the app can be used to request and accept a variety of payments, including debit, credit and ACH transfers, all without the need for their customers to have the app.

It also offers a centralized location where business owners can track their income and expenses while also offering ways to schedule bill payments and more. 

Intuit added in a statement that business cash can be accessed anywhere thanks to same-day deposit at no extra fee for payments accepted through the app. 

Intuit said it decided to create the app after the company conducted a study that found 30% of those who process payments using mobile payment apps started doing so during the pandemic.

The company plans to add additional features to the app over the next few weeks, including the ability to deposit checks and use your debit card via Apple Pay and Google Pay wallets.

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