Finance Everywhere

Quick Take: With early wage access and factoring, Intuit expands deeper into embedded finance

  • Intuit continues to expand its embedded finance options for SMBs.
  • The firm now offers invoice factoring and easy wage access, alongside its banking, lending, and payment options.

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Quick Take: With early wage access and factoring, Intuit expands deeper into embedded finance

Intuit QuickBooks today announced two new products: QuickBooks Get Paid Upfront and Early Pay.

  • Get Paid Upfront: Eligible QuickBooks Online customers can factor one or more qualifying invoices, up to a total of $30,000. Customers pay a flat fee of 3% per financed invoice and invoices are financed interest-free for the first 30 days. No additional ACH or credit card transaction fees are charged to the small business owner when a customer pays the invoice through QuickBooks Payments within the first 30 days.
  • Early Pay: Eligible employees using QuickBooks Online Payroll will be able to access their wages early to offset unexpected expenses or ease financial stress. Employees can choose to receive those funds instantly or within 1-2 business days.

For these two new products, Intuit QuickBooks partnered with WebBank. These two products join Intuit's other SMB embedded finance solutions, including QuickBooks Cash, Money by QuickBooks, and QuickBooks Capital.

As Intuit enters online invoice factoring, BlueVine, a competitive SMB lender with roots in factoring, sold off its factoring business two weeks ago.

These two new Intuit products leverage the firm's scale and expanding product suite to service small businesses and their employees.


  • Last year, QuickBooks processed $91 billion in payments volume, and $1.5 trillion of invoices are created in QuickBooks every year.
  • One in five small businesses use QuickBooks Payroll, with a total volume of $232 billion.
  • QuickBooks Capital has facilitated more than $1 billion in loans to small businesses since 2017.

In December, Tearsheet spoke to Rania Succar, who heads up Intuit's Money products. She emphasized that the software firm looked at 4 different goals when deciding to offer embedded financial solutions.

  • financial stability: Intuit's embedded financial products touch customers at their pain points, providing access to capital when it's needed most.
  • effortless clarity: SMBs use numerous apps and spreadsheets to run their businesses. Intuit wants to provide a single source of truth with clear analytics and recommendations of what to do next.
  • instant payments: It still takes 29 days for most SMBs to get paid. With Get Paid Upfront, Intuit is working to accelerate the cash conversion cycle.
  • total reliability: Trust plays a huge role in servicing SMBs. Banking can be frustrating. Succar says Intuit is positioning itself "where the risk systems are so powerful in the background that you are never stopped by one of these things. Your money is always available when you need it. And the system can always predict what you’ll need and is ready there for you."

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