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Intuit Pay Gets Small Businesses Paid On The Spot So They Never Miss A Sale. (Photo: Business Wire)

Stocks in this article: INTU

A survey for Intuit of 1,000 small businesses in the U.K. found that just 19 per cent of micro-businesses – firms with less than 10 employees – currently accept card payments. Almost half, a total of 47 per cent, said they would accept cards if there was a more affordable way of doing so using their smartphone or tablet. There are an estimated 4.6 million micro businesses in the U.K., according the Department for Business Innovation & Skills.

Intuit Pay builds on Intuit’s 10 years of leadership in the small business payments space in the United States, where Intuit’s desktop, Web and mobile payments offerings annually process more than $36 billion in payments. The mobile payment market continues to represent a significant growth opportunity, as evidenced by the continued growth of Intuit’s North American mobile payment offering, GoPayment, in the United States and Canada.

“Intuit has a long history in helping small businesses solve all their payments needs. We understand that getting paid is crucial to their success, and have seen how GoPayment helps their businesses grow,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “The payments opportunity for small businesses in the U.K. is significant, and this pilot is our first step to enabling small businesses around the world get paid – faster and easier.”

Businesses interested in participating in the Intuit Pay pilot should visit www.intuitpay.co.uk.

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About Intuit UK

Intuit is a leading provider of innovative business and financial management solutions. Our customers in the UK are small businesses and their advisors, including accountants and bookkeepers. We help small businesses get on top of their finances and save time on their day-to-day accounting tasks, such as managing cash-flow, dealing with VAT and payroll processing. For accounting professionals we provide the tools and capabilities to more efficiently complete bookkeeping, trial balance, write-up, and financial reporting tasks and help them grow their practice. By offering many services online and on mobile devices, we're connecting customers to our solutions and with each other in ways that add more value to our products. More information can be found at www.intuit.co.uk.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Intuit and the Intuit logo, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

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