Intuit has revealed a new line of 20-plus products designed to expand from its standard payroll and accounting practices, reports TechCrunch.
The products will deal with familiar payments categories such as social commerce, NFC, card scanning, Passbook and data analysis, and range from ready for immediate release to still in their experimental stages.
“We are going to have tons of category growth, but it will come down to who has the best overall value proposition. Payments have to work with banks, accounting packages, and so on. We have all that,” said Brad Smith, Intuit CEO. “That’s why I feel good about our package. We have an ecosystem that supports payment. Consolidation will come down to a handful of people, but it will be about people who have the ecosystem and scale.”
Intuit made news on Monday for acquiring the technology, patents and staff of social commerce platform provider Payvment.