MOUNTAIN VIEW, Calif.–QuickBooks, the cloud-based accounting software solution that is especially popular with small and medium-sized businesses, has become the latest to offer its users flexible payment options from BNPL provider Affirm.
The capability will result from a new multiyear partnership between QuickBooks owner Intuit and Affirm, in which Affirm will become the exclusive pay-over-time solution built into QuickBooks Payments, the companies said.
According to the companies, Affirm will be offered as a payment method to QuickBooks Online customers in the U.S. who use QuickBooks Payments to invoice customers, according to the release. The integration is expected to be launched within months.
‘Powerful’ New Tool
“By partnering with Affirm to bring native, pay-over-time functionality to QuickBooks, we are giving businesses a powerful new way to increase conversion and improve cash flow, while offering their own customers flexibility,” David Hahn, executive vice president, general manager, Service Group at Intuit, said in a statement.
The QuickBooks financial management system manages over $2 trillion in invoices each year, according to the company.
According to the companies, the addition of Affirm will strengthen the platform’s end-to-end financial management capabilities, enabling businesses to get paid up front while offering their customers the option of paying over time, the release said.
Affirm handles the application, underwriting and approval of financing for each transaction; assumes the repayment risk; and does not charge any late or hidden fees, the companies said.
