Intuit Adds ‘Tap to Pay on iPhone’ to QuickBooks Online

Intuit began rolling out Tap to Pay on iPhone capabilities for QuickBooks Online customers Tuesday (March 11), saying this lets small to medium-sized businesses (SMBs) accept in-person contactless payments using only an iPhone.

These capabilities will be made available in the coming weeks to customers in the U.S. who have added a QuickBooks Payments plan to their subscription, the company said in a Tuesday press release.

“What makes Tap to Pay on iPhone unique for QuickBooks customers, is that it allows them to streamline their in-person payments and seamlessly connect them to their books and our end-to-end services, putting their full business finances all in one place,” David Hahn, senior vice president, QuickBooks Money Platform, said in the release.

QuickBooks Payments customers need only an iPhone and the QuickBooks mobile or GoPayment iOS apps to accept in-person contactless payments anywhere, according to the release. There is no need for a separate card reader or point-of-sale (POS) hardware.

Businesses can accept contactless credit and debit cards, Apple Pay and other digital wallets, the release said.

Transactions completed with Tap to Pay on iPhone sync directly to the business’s QuickBooks Online account so that they can manage and reconcile these payments and keep their books up to date, per the release.

Software point-of-sale (SoftPOS) solutions like Tap to Pay have benefits that make them attractive to not only on-the-go businesses but also brick-and-mortar ones, according to the PYMNTS Intelligence and Discover Global Network collaboration, “How SoftPOS is Poised to Revolutionize Payments.”

The report found that these solutions can solve traditional POS pain points by providing faster service and checkouts, minimal training time and cost, a wide range of payment methods, and a single source of real-time data that can aid data-driven decision-making.

Nearly three-quarters of merchants expect SoftPOS solutions to replace traditional POS systems sometime in the future, per the report.

Intuit also announced Tuesday that it added a recurring payments feature for QuickBooks Online customers in the U.S. This tool provides automations that eliminate the need to manually create repeat invoices, eliminate the need to send payment requests or reminders, and help businesses get paid automatically for repeat sales of services and products, the company said in a blog post. “The addition of recurring payments gives our customers the power to not only maintain and accelerate their cash flow, but also increase client satisfaction and loyalty,” Hahn said in the post.

Intuit enhanced QuickBooks in November by adding a generative artificial intelligence (AI)-powered financial assistant called Intuit Assist for QuickBooks.

In March 2024, the company added a line of credit offering called QuickBooks Line of Credit that enables small businesses to access funding from $1,000 to $50,000 and tap into the funding when and how they need it.

The post Intuit Adds ‘Tap to Pay on iPhone’ to QuickBooks Online appeared first on PYMNTS.com.