Adyen and Intuit Partner to Simplify Payments for UK SMBs

The new Adyen Intuit partnership is poised to transform how small and medium-sized businesses (SMBs) in the U.K. manage payments.

By integrating Adyen’s advanced payment solutions directly into Intuit’s QuickBooks Online platform, this collaboration seeks to address long-standing challenges like late payments, cash flow issues, and limited payment flexibility.

This initiative is a game-changer for SMBs, especially since QuickBooks processes over 2.9 million invoices monthly in the U.K.

The partnership promises faster payment settlements, improved financial management, and a wider array of payment options for small businesses.

Addressing the Late Payment Crisis

Late payments have been a persistent problem for SMBs, costing these businesses an average of £22,000 annually, as highlighted by data from the Federation of Small Businesses (FSB). The issue is so severe that it contributes to around 50,000 business closures every year.

Adyen, with its U.K. banking license and direct integration into the Faster Payments Service, offers a solution to this problem. By leveraging real-time payment capabilities, SMBs using QuickBooks will no longer face prolonged waits for funds.

Faster payments mean businesses can maintain steady cash flow, pay suppliers on time, and invest in growth opportunities.

The impact extends beyond individual businesses. According to the Office of the Small Business Commissioner, the U.K. economy stands to gain £2.5 billion annually if SMBs are paid on time.

The Adyen Intuit partnership directly supports this vision, ensuring that businesses receive payments promptly and avoid cash flow disruptions.

Embedded Finance

The collaboration also taps into the growing trend of embedded finance—integrating financial services directly into non-financial platforms.

Embedded finance eliminates the need for external banks or payment processors by offering seamless payment processing within existing business tools like QuickBooks.

Research from PYMNTS highlights the need for such innovations, noting that late payments affect nearly 64% of small businesses worldwide.

Suppliers typically wait an average of 43 days to receive payments, which significantly hampers business operations. Additionally, these delays result in 80% of early payment discounts going unclaimed, further straining supplier relationships and cash reserves.

The Adyen Intuit partnership introduces embedded payment solutions that not only streamline transactions but also enhance security.

This marks a significant leap forward for business-to-business (B2B) payments, which often lag behind peer-to-peer (P2P) and consumer-to-business (C2B) models in usability and efficiency.

Enhancing SMB Financial Ecosystems

By embedding Adyen’s payment capabilities, Intuit QuickBooks lays the groundwork for broader financial integrations in the future.

The potential goes beyond payments, opening doors for additional embedded financial products such as lending, insurance, and payroll management.

The embedded finance market is expected to soar to $7 trillion by 2026, up from $2.6 trillion in 2021, according to PYMNTS.

This rapid growth underscores the increasing recognition of its value, particularly for SMBs seeking to modernize their financial ecosystems.

For SMBs in the U.K., the Adyen Intuit collaboration is not just about faster payments—it’s about creating a more efficient, secure, and user-friendly financial framework.

The partnership enables businesses to process payments, manage finances, and plan for growth, all within a single platform.

A Win-Win for Businesses and the Economy

The partnership’s benefits extend beyond operational efficiency. For SMBs, the ability to receive payments quickly and securely reduces stress, improves supplier relationships, and unlocks new opportunities for scaling.

For the U.K. economy, the ripple effects are significant. Addressing late payments and improving cash flow for businesses could lead to higher productivity, fewer closures, and more robust economic growth.

The QuickBooks maker, Intuit, emphasizes its commitment to empowering SMBs with cutting-edge solutions.

“By embedding Adyen’s locally approved payment services, we aim to eliminate payment friction and provide the groundwork for a future of comprehensive financial tools,” Intuit noted in the announcement.

Adyen, on its part, highlights its role in facilitating this transformation. “Our real-time payment capabilities and U.K. banking license ensure that QuickBooks users enjoy faster fund access and greater payment flexibility,” Adyen stated.

The Future of B2B Payments

The Adyen Intuit partnership comes at a crucial time when B2B payment models are undergoing significant changes. As more businesses adopt digital tools to manage finances, solutions like embedded finance are becoming indispensable.

While peer-to-peer (P2P) and consumer-to-business (C2B) payments have already seen advancements in speed and security, B2B payments have often lagged.

The new partnership addresses this gap by offering SMBs a solution that is not only faster but also more secure and adaptable.

By integrating Adyen’s payment capabilities into QuickBooks Online, the partnership delivers a streamlined, user-friendly experience for business owners.

SMBs no longer need to juggle multiple platforms to handle payments, making financial management simpler and more effective.

Adyen Intuit Partnership Paves the Way

For small businesses across the U.K., the Adyen and Intuit collaboration is a welcome development. Faster payments, reduced late payment risks, and seamless integration with QuickBooks are just the beginning.

The partnership sets the stage for a future where SMBs can rely on innovative financial tools to thrive in an increasingly competitive market.