The human capabilities thrive across a wide set of horizons, but at the same time, none beat the knowhow we have in regards to growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which guided us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Intuit, the global technology platform that makes Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, has officially launched a new product called Quickbooks Money. Designed to give small businesses greater control over their money, the stated solution packages payments and banking facilities into a single platform, and mind you, it does so without mandating any monthly fees or minimum balance requirements. Talk about some granular level features that Quickbooks Money will bring into play; it will allow users to send a personalized invoice or quick payment request, while simultaneously enabling them to choose a payment method that works best for their needs. The available payment options, at the launch, include credit or debit card, ACH bank transfer, Apple Pay®, Google Pay, PayPal, or Venmo. Next up, the product ensures that all eligible payments are deposited into your bank account on the same day, notably offering the service even during weekends and holidays. Complimenting this feature is Quickbooks Visa business debit card, which instantly unlocks access to over 19,000 Allpoint ATMs nationwide for easier withdrawal. Another detail we must mention here is how Quickbooks Money keeps your money secure with FDIC insurance of up to $5,000,000. Working alongside industry-leading partners, the solution also leverages a deposit sweep feature to automatically sweep balances above $250,000 to a network of FDIC insured banks.

“QuickBooks Money represents an incredible opportunity to expand the reach of our fintech platform and give more small businesses access to powerful cash flow management tools,” said David Talach, senior vice president of the QuickBooks Money Platform at Intuit. “We believe this is a true front door to the future of small business success.”

Hold on, there are still a few bits left to unpack here, considering Quickbooks Money also has these envelopes embedded into it that help you save for expenses. In case this isn’t enough, then we must mention how it will also let you earn 1.75% APY on envelope balances, which happens to be 25 times higher than the national average rate. We referred to user expenses, the solution in question further has the means to make it possible for you to track business income and expenses in one single place that will afford a full view of how your business is doing and what can be done to improve it.

In essence, Quickbooks Money thrives under the tutelage of two industry-leading financial services i.e. QuickBooks Checking and QuickBooks Payments. The former bears the responsibility to present a business banking hub through a purpose-built bank account provided by Green Dot Bank. As for the latter, it is there to smoothen up your payment operations, and its excellence around the same is validated once you consider the solution is processing more than $125 billion in payments annually.

Intuit’s latest brainchild builds upon the earlier launch of Quickbooks, which came decked up with somewhat similar capabilities. However, the point where our new product separates itself talks to its significantly wider addressable market. You see, it will look to serve all those small business owners who didn’t exactly need the QuickBooks’ full range of financial management and accounting capabilities, but instead, are only on the lookout for one simple tool to get paid and manage their money end-to-end. That being said, if your business evolves to require the full suite at some point, you can seamlessly upgrade to QuickBooks’ ecosystem of subscription-based services such as accounting, payroll, and more.

For the future, Intuit plans on introducing a subscription-free access to solutions such as bill pay, in-person payments, and lending.