Under the terms of the agreement, Intuit is set to integrate its QuickBooks accounting software with Square’s point-of-sale products via an API deal. The integration, available from November 2013, is set to enable small businesses to import their transactions from Square into QuickBooks.
Existing customers of both companies are set to be able to activate the integration without further registering, while new customers to either company will have to sign up for both Square Register and QuickBooks. Intuit is set to continue to offer GoPayment and other Intuit payment services to its customers as well.
In recent news, private equity investment firm Thoma Bravo has completed the acquisition of Intuit Financial Services, a division of Intuit, to form a stand-alone company that provides digital banking and payments capabilities to financial institutions.
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