Intuit, a global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks and Mailchimp, announced the launch of QuickBooks Payments, a pay-enabled invoicing solution designed to help its UK customers get paid up to three times faster. The launch of QuickBooks Payments on Intuit’s AI-driven all-in-one platform sees Pay by Bank and Pay by Card functionality generally available to QuickBooks customers, with additional payment methods coming soon.
With the strain of late payments felt by 52% (2.8 million) UK SMBs, these added payment capabilities in QuickBooks can be a gamechanger for businesses using Intuit’s platform. On average, businesses report that 13% of their invoices are 30 or more days overdue, with 27% admitting to being owed between £5-20,000 and 30% spending between 21-30 hours per month chasing and manually reconciling these outstanding transactions. According to the OSBC, if SMBs were paid on time, this could boost the UK economy by an estimated £2.5 billion annually.
Approximately 2.9 million invoices per month are sent via QuickBooks Online in the UK and businesses that offer pay-enabled invoicing options get paid faster. Despite the clear benefits of faster payments on managing cashflow, many businesses still only offer limited payment options. According to QuickBooks’ Small Business Insights Survey in April 2025, in the UK 80% of SMBs currently accept bank transfer, only 53% accept credit/debit card payments and 47% accept payments from online payment platforms. For portable/mobile card readers it’s just 15%.
