Pierre Omidya who founded eBay as a sole proprietorship in September 1995 remains on eBay’s Board following their divorce with PayPal. He has been a director and Chairman of the Board since eBay’s incorporation in May 1996.
Intuit is releasing a new integration for marketplaces using Stripe for payment processing. This lets independent for-hire workers automate tax reporting via the new QuickBooks Online Self-Employed product. Intuit and Stripe make keeping track of and paying taxes simple through automation. With this new integration, on-demand marketplaces can give their users the free benefit of having their income data flow securely into QuickBooks Online Self-Employed, so that they always have a clear picture of their tax obligations and can easily track deductions, such as business expenses and mileage. This prevents tax penalties and avoiding having to pay any unneeded interest.
Green Dot Corporation, a leading prepaid financial services company, reported financial results for the first quarter ended March 31, 2012. For the first quarter of 2012, Green Dot reported an 18% year-over-year increase in non-GAAP total operating revenues1 to $145.5 million, a 21% year-over-year increase in non-GAAP net income1 to $21.2 million and non-GAAP diluted…
Intuit Financial Services has launched a new Web and mobile banking solution to place a consumer’s most important online financial management capabilities within one click on the home page of a financial institution’s website. This lets users use one secure login to their bank or credit union website to see account information and recent transaction history from virtually any source in the U.S.; save money on products and services they already buy without the hassle of coupons by activating targeted merchant discounts; transfer funds, manage and pay all their bills, and access the “FinanceWorks” solution to see where their money is going to gain control over spending; and implement TurboTax for Online Banking to pre-populate certain bank or share account data into their tax return and then get step-by-step guidance to maximize their refund.
Intuit posted its financial results for its second fiscal quarter, which ended Jan. 31, with revenue up 5% to $878 million since the year-ago quarter. For fiscal year 2011, the company expects revenue of $3.74 billion to $3.84 billion, growth of 8 to 11%. Intuit’s Payments Solutions revenue grew 7% compared to the year-ago quarter, merchants grew 14% compared to the year-ago quarter and transaction volume per merchant grew 1%. Meanwhile, internet banking users increased by 10 percent, while bill pay users grew 23 percent compared to the same quarter last year.Small Business Group revenue increased 15% compared to the year-ago quarter, for which Financial Management Solutions revenue increased 21% compared to the year-ago quarter. Total Small Business Group revenue grew 15% compared to the year-ago quarter. Growth in small business was led by strength in Financial Management Solutions and Employee Management Solutions. With this, the Company is projecting revenue of $1.76 billion to $1.83 billion for the next quarter for growth of 10-14%.
Intuit announced 3Q/10 financial results-its first fiscal quarter- posting revenue growth up 12% since the year ago figure to $532 million. This was thanks in part to customer growth in Small Business, led by QuickBooks Online and Intuit Websites, which grew subscriptions 46% since the year ago figure to an active customer base of about 217,000 and by 60% from the year ago figure, respectively. Transaction volume per merchant was down 3%. Meanwhile, in conjunction with mophie hardware provider, Intuit “GoPayment” all-in-one mobile payments solution that allows small businesses to easily swipe and process credit card payments via the Apple iPhone saw revenue up 1% since the year-ago quarter; internet banking users grew 11%; and bill pay users grew 19%. For fiscal year 2011 the company expects revenue of $3.74 billion to $3.84 billion, a growth of 8 to 11%, and for the next quarter is projecting a revenue of $920 million to $940 million, a growth of 10 to 12%.
Mint.com has made it easier for users to track their cash spending and monitor pending expenses, addressing a top user request by enabling manual entry of transactions. Users need only enter the amount and merchant, which Mint.com will automatically deduct from their most recent ATM withdrawal, unless they choose otherwise. Mint.com will then apply the spending to the appropriate category and budget. For checks, entering the check number and payee means the expenditure will be automatically reconciled when the amount clears. The new spend tracking feature accounts for tips, gifts, bonuses, owed money, or other income paid in cash or personal checks. Cash, checks and pending transactions will sync directly into a userâs account â tied to current budgets, personalized tags, categorized merchants, and linked accounts.
Intuit’s Digital Insight is now offering the “FinanceWorks ” online financial management solution to banks and credit
unions not currently using Digital Insightâs Internet banking platform. Financial institutions offering FinanceWorks have already found that
providing online financial management capabilities can deliver tangible
business benefits to banks and credit unions. Data on early FinanceWorks
users indicates they are up to four times more profitable than the average bank or
credit union customer. They have twice as many accounts, nearly 30% higher loan balances, and tend to have higher incomes.
Customers log in to online banking twice as often as active online banking
users, and are more active online bill payers and are so highly satisfied with the online financial management
experience that 78% would recommend their financial institution
based on the solution.
Intuit has rolled out “TurboTax for Online Banking”. TurboTax for Online Banking guides users through their return, helping
them get every deduction and credit to which they are entitled so they
get the maximum refund possible. Users can also file their returns
electronically and direct deposit refunds in up to three accounts.
More than $33 billion in tax refunds already flow through TurboTax. More
than 90 percent of people who tried “TurboTax for Online Banking” during
pilot testing who received a tax refund direct deposited that refund
with the financial institution that offered the service.
Consumers whose financial institutions offer TurboTax for Online Banking
can pre-populate their tax forms with tax data from online banking to
save time. This will help people quickly and easily prepare, plan and
file tax returns within an online banking session; no additional log in
required. The solution can also be integrated with FinanceWorks, the
award-winning online financial management solution from Intuitâs
financial institutions division, Digital Insight, to make tax
preparation even easier for tax filers. FinanceWorks helps online banking customers gain greater visibility and
control over their spending with access to account information from more
than 12,000 financial institutions and credit card sites.
Consumers and small business owners are starting to see positives in the economy, with 52% of individuals and 61% of small business owners optimistic their financial prospects will improve over the next 12 months. Meanwhile, 70% are confident in the stability of their financial institution. These findings, according to research conducted by Digital Insight, also show 88% of consumers now pay bills and transfer funds online; nearly 50% of consumers would like online help with tracking expenses and budgeting; approximately 80% of consumers and small businesses named their bank or credit union as their most trusted online destination to manage their finances; and 17% of small business owners have increased their use of online financial management tools in the past year. More than 400 banks and credit unions across the U.S. are live or implementing Digital Insightâs online financial management tools to help their customers and members gain greater visibility and control over their financial decisions.
Intuit is helping healthcare providers get paid by their patients an
average of 18 days faster with its new Quicken “Health Bill Pay” online
service. Regardless of insurance carrier or coverage, “Health Bill Pay”
allows patients to view their medical bill in easy-to-understand
language and discloses the amount due calculated after insurance
payments are posted for fast electronic payment directly from the
product. Reducing time between doctor visit and billing, the new
solution alerts patients immediately after the insurance payment is
posted and the balance becomes their responsibility. Half of what is
owed to medical professionals is considered bad debt and research shows
that 40 percent of patients donât pay their medical bills simply because
they donât understand the bill or didnât think they were responsible for
the amount due. The Quicken “Health Bill Pay” allows providers to
improve accuracy and reduce the time billing managers spend taking
payments over the phone or keying in payment information sent through
the mail with the convenience of electronic payments to medical bills,
letting patients send payments anytime, from any computer, using a debit
and credit card, as well as Flexible Spending Accounts or Health Savings