B2B Payments

Intuit Continues Expansion With Tax Firm Acquisition

Intuit announced last week that it acquired KDK Softwares India Private Limited, a professional tax firm in India. Intuit explained in a press release that it wants to add a base of over 20,000 of KDK Softwares’s customers. Currently, KDK explained that it is serving 1 in 5 practicing chartered accountants in India. Financial details of the acquisition were not disclosed.

The acquisition is also expected to improve Intuit’s offerings in accounting, tax computation and e-filing. With KDK, Intuit can expand its portfolio to include simplified tax filing for accountants, bookkeepers and their small business clients.

“With this acquisition, we will in the near term be able to provide our customers with an end-to-end workflow of integrated accounting and tax capability which would be the first of its kind in the country,” Vice President and Managing Director of Intuit India Nikhil Arora said. “The addition of KDK Softwares builds on Intuit’s QuickBooks small business ecosystem offering in India, providing for the first time a seamless and collaborative tax filing solution.”

Last month, Intuit announced that it offers mobile bill pay, thanks to its previous acquisition of Check. Instead of tapping in data, customers can use their smartphone’s camera to scan the bill, choose how to pay and then either pay the bill or schedule it out.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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