This sounds like the matching Intuit has described in its test utilizing data aggregation and analysis so small businesses can get loans. The approach lends itself to transaction-based revenue and could help Intuit avoid endorsing third parties. Its exhibitor line up for this week's QuickBooks Connect shows many competing companies, such as several that have invoicing applications. Does Intuit simply let vendors tie in for a per-transaction fee and keep them all happy? Its premium sponsor list has some companies that rely heavily on transactions—Avalara, American Express, Visa and Facebook and LinkedIn with their ad model. (You'd have to guess AmEx is there also because of its involvement in the new Refund Transfer program on the tax side.)
MINTIFYING INTUIT? Featured
Intuit executives say a platform linking small biz applications is coming. It seems likely something besides simply connecting code is involved—what is the financial model? Intuit's Mint operations suggest a solution. Intuit CEO Brad Smith has said his company would learn from Mint, which recommends products and services to users and also aggregates users' financial data. Services are free, but Mint notes "Sometimes we get paid a small fee when you switch to a new bank or company, which helps keep our basic service free."
