Intuit adds QuickBooks-linked credit card for US small businesses

Intuit has introduced a business credit card for US small businesses that connects directly with QuickBooks, adding a credit product to its accounting and payments ecosystem. The Intuit Business Credit Card offers unlimited 2% cash back on everyday purchases and 5% cash back on Intuit products and services, according to the company.

The card is a World Elite Business Mastercard issued by WebBank and runs on Mastercard’s payments network. Intuit said the product is designed to bring spending, credit access and financial data into a single workflow for companies that already use QuickBooks.

For QuickBooks customers, the central feature is native synchronization. Intuit said opening the card automatically creates a dedicated account and links it to the QuickBooks bank feed, so transactions, statements and receipts flow into the accounting platform without a separate connection process.

The mechanism is intended to reduce manual reconciliation. Intuit said receipt images can be matched automatically to the relevant card transaction inside QuickBooks, helping businesses keep spending records current and categorize purchases for accounting purposes.

Credit, controls and rewards

Intuit said approved applicants can receive access to a virtual card in as little as three minutes. The virtual card can be used online or added to a digital wallet for in-store transactions, while physical cards are also available.

The company said the card includes a customized credit limit, repayment flexibility and no annual fee. It also allows businesses to issue unlimited employee cards, including physical and virtual cards, with individualized spending limits, controls and real-time notifications.

Those controls are aimed at companies that are adding staff and delegating purchases while trying to maintain oversight of budgets and cash flow. Intuit said the product also helps separate business and personal spending, and that applying does not affect personal credit scores.

Intuit framed the launch as part of a broader push into small-business capital products. David Hahn, executive vice-president and general manager of Intuit’s Services Group, said the card adds to a range of capital solutions on the Intuit platform and is built around business performance rather than a single capital model.

The company cited its QuickBooks Small Business Financing Report, which found that businesses using financing are nearly twice as likely to be in an active growth phase as businesses relying on personal funds. Intuit said many small businesses still rely on separate tools and manual processes to manage accounting, spending and financing.

Mastercard network support

Mastercard said the card will use its global acceptance network and World Elite Business Mastercard benefits. Intuit said purchases are supported by AI-driven fraud detection and Zero Liability coverage through the Mastercard network.

Eimear Creaven, president of global partnerships at Mastercard, said the product combines Mastercard’s acceptance, security and business-card benefits with Intuit’s understanding of small-business finances.

The launch extends Intuit’s existing financing offerings through QuickBooks, which include QuickBooks Capital lines of credit, term loans and invoice financing, according to the company. Intuit said the new card remains subject to approval and is built with data privacy, security and responsible governance controls.

This story draws on original reporting from Finextra Research.