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Visa With Intuit Enables Instant Cash for Small Businesses
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Visa Inc. (V - Free Report) has announced Instant Deposit via its real-time push payments solution Visa Direct along with Intuit Inc.’s (INTU - Free Report) QuickBooks. It is a new feature that enables real-time disbursements for small business owners using QuickBooks Payments to directly access funds with their eligible debit card.
The Instant deposit feature will integrate Visa Direct capabilities, which will allow merchants using QuickBooks Payments to deposit their funds straightaway into their bank accounts linked to an eligible debit card, round the clock. Instant Deposit is on offer to customers of QuickBooks Payments in the United States and is expected to be generally available by this year-end.
Visa Direct is built upon VisaNet, the world’s largest payments network to transform the way people make and receive payments. By utilizing Visa Direct through The Bancorp Bank, QuickBooks Payments will be able to make available funds for small businesses much faster.
This service has been rolled out to serve the immediate cash flow needs of small businesses, which poses a significant challenge to growth of such enterprises. Visa plans to make it big in this area since small businesses comprise a staggering 99.9% of total businesses across the United States.
A 2019 research report by QuickBooks stated that nearly 66% of surveyed small business owners reports that the time lag to process money after receiving payment has the largest impact on their company’s cash flow.
Visa finds a good partner in QuickBooks Payments given the latter’s comprehensive platform that offers multiple ways for merchants to receive funds (mobile payments, remote payments, invoices) and deliver the same in real time. It has a history of more than $55 billion in credit card and Automated Clearing House (ACH) payments processed annually.
Earlier during the year, another player in the same space — Mastercard Inc. (MA - Free Report) — also partnered with Intuit to provide small business owners with digital resources they need.
Year to date, the stock has rallied 33% compared with the industry's growth of 36.5%.
Visa remains the frontrunner in the payments industry when it comes to innovation and technology, business growth, tie-ups and partnerships for business flourish. These factors have driven business volumes for the company with payments volumes of $7.6 trillion achieved in 2018 compared with $3.8 trillion for Mastercard, $1.1 trillion for American Express Co. (AXP - Free Report) and $159 billion for Discover Financial Services. These are a few players in the same space that vie for similar business.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Visa With Intuit Enables Instant Cash for Small Businesses
Visa Inc. (V - Free Report) has announced Instant Deposit via its real-time push payments solution Visa Direct along with Intuit Inc.’s (INTU - Free Report) QuickBooks. It is a new feature that enables real-time disbursements for small business owners using QuickBooks Payments to directly access funds with their eligible debit card.
The Instant deposit feature will integrate Visa Direct capabilities, which will allow merchants using QuickBooks Payments to deposit their funds straightaway into their bank accounts linked to an eligible debit card, round the clock. Instant Deposit is on offer to customers of QuickBooks Payments in the United States and is expected to be generally available by this year-end.
Visa Direct is built upon VisaNet, the world’s largest payments network to transform the way people make and receive payments. By utilizing Visa Direct through The Bancorp Bank, QuickBooks Payments will be able to make available funds for small businesses much faster.
This service has been rolled out to serve the immediate cash flow needs of small businesses, which poses a significant challenge to growth of such enterprises. Visa plans to make it big in this area since small businesses comprise a staggering 99.9% of total businesses across the United States.
A 2019 research report by QuickBooks stated that nearly 66% of surveyed small business owners reports that the time lag to process money after receiving payment has the largest impact on their company’s cash flow.
Visa finds a good partner in QuickBooks Payments given the latter’s comprehensive platform that offers multiple ways for merchants to receive funds (mobile payments, remote payments, invoices) and deliver the same in real time. It has a history of more than $55 billion in credit card and Automated Clearing House (ACH) payments processed annually.
Earlier during the year, another player in the same space — Mastercard Inc. (MA - Free Report) — also partnered with Intuit to provide small business owners with digital resources they need.
Year to date, the stock has rallied 33% compared with the industry's growth of 36.5%.
Visa remains the frontrunner in the payments industry when it comes to innovation and technology, business growth, tie-ups and partnerships for business flourish. These factors have driven business volumes for the company with payments volumes of $7.6 trillion achieved in 2018 compared with $3.8 trillion for Mastercard, $1.1 trillion for American Express Co. (AXP - Free Report) and $159 billion for Discover Financial Services. These are a few players in the same space that vie for similar business.
Visa carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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