GoCardless and Intuit QuickBooks integration launched to end late payments for Australian small businesses
GoCardless, the bank payment company, have announced an integration in Australia with Intuit QuickBooks’ leading financial management software.
The new GoCardless app, available today in the Intuit Quickbooks Store, will allow Australian QuickBooks users to tap into Direct Debit, helping them to reduce late payments and improve cash flow.
The announcement will be welcome news to SMBs who, according to the Australian Government’s Payment Times Reporting Regulator, wait up to 47 days to get paid on average.
The GoCardless integration will allow Intuit QuickBooks small business users to gain greater control of their finances. On the date an invoice is due, payments are automatically collected directly from their customers’ bank accounts and reconciled on the Intuit Quickbooks platform. Direct Debit payments also cost less to process when compared to payment by credit cards. GoCardless’s standard fees are generally also cheaper than those charged by Stripe and PayPal.
In turn, small businesses can offer their customers more secure and seamless payment experiences, removing the hassle of updating expired, lost or stolen card details and the need to initiate manual bank transfers. For small businesses, this reduces the risk of customer churn, late payments and failed payments.
Seb Hempstead, VP of Partnerships at GoCardless, said, “Our integration with Intuit QuickBooks is one way we can make life easier for small businesses in this tough economic environment. By reducing late and failed payments, plus the associated admin, and enabling automatic reconciliation, we can free up cash flow and keep costs down. This means that SMBs can spend more time growing their business.”
Lars Leber, VP and Country Manager Intuit QuickBooks Australia said, “We are excited to expand our international relationship with GoCardless to Australia. Our goal is always to make the lives of QuickBooks customers easier. Through this integration, businesses can put time back into other areas of their business that were previously dedicated to bookkeeping and chasing payments, while customers will not have to worry about their service expiring when their card does. With GoCardless, we are providing efficient solutions tailored for small businesses.”
This regional integration builds on the existing relationship between GoCardless and Intuit QuickBooks in the United Kingdom. Along with launching a new app in Australia, GoCardless has also introduced an app on the Intuit QuickBooks Marketplace in North America.
