Intuit Inc. is looking to deepen entrepreneurs' reliance on its small-business payment services with a new payment-reminder app for mobile phones.

Its latest lure is MoneyDue, a free app for Apple Inc.'s iPhone and iPod Touch that works in conjunction with the Intuit PaymentNetwork for small businesses, Intuit announced May 31.

MoneyDue enables small-business users to create reminders of payments owed and received and link them to appointment dates within the calendar feature of their mobile phone.

The app "helps busy small-business owners professionally manage money flow from their smartphone," Yumi Clark, a director for Intuit PaymentNetwork, said in a press release.

When a client's payment is due, the app alerts the user to send an invoice to the client via an email that includes a link to Intuit's PaymentNetwork.

Introduced in 2010, PaymentNetwork enables small-business owners to receive payments from customers via automated clearinghouse funds transfers. Small businesses pay Intuit 50 cents for each payment received; the service is free to payors. PaymentNetwork also offers small businesses the option to receive credit card payments. 

Intuit, creator of QuickBooks and other accounting software, is developing a version of the app for Android devices, a spokesperson tells PaymentsSource.

"This looks like another tool Intuit is hoping will tie its small-business customers closer to the various accounting and management services it offers," Nancy Atkinson, a senior analyst with Aite Group, tells PaymentsSource.

The service also may help small-business owners stick to a schedule for sending out invoices that could generate fees if payors are late, she suggests.

Intuit is promoting the app on its site and will continue to rely on word-of-mouth marketing for its PaymentsNetwork service, which is receiving "strong growth and positive customer feedback," the spokesperson says.

What do you think about this? Send us your feedback. Click Here.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry