Intuit Completes FedNow Service Certification to Enable Instant Payments, Real-Time Payroll, and Faster Cash Flow for Small and Mid-Market Businesses

MOUNTAIN VIEW, California — April 9, 2026

Executive Summary

Intuit has completed the Federal Reserve’s certification and readiness program for the FedNow® Service, marking a significant milestone in its efforts to enable instant payment capabilities across its financial ecosystem. This development positions Intuit to facilitate real-time money movement for small and mid-market businesses, allowing them to receive payments faster, access funds immediately, and manage cash flow with greater certainty. By integrating with the Federal Reserve System’s instant payments network, Intuit can partner with financial institutions to deliver seamless payment experiences across its platform. The certification reflects Intuit’s continued focus on improving financial operations for businesses through faster settlement and enhanced liquidity access.

Announcement Overview

Intuit has formally announced the completion of its FedNow® Service certification, confirming its readiness to expand instant payment capabilities across its product portfolio. This certification enables Intuit to connect with participating financial institutions and initiate instant payment transactions on behalf of customers, supporting a more efficient and modern payment infrastructure in the United States.

The integration allows Intuit to incorporate real-time payment functionality across its ecosystem, which includes widely used financial products such as TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite. Through this capability, businesses using Intuit’s platform can benefit from immediate settlement of funds, reducing dependency on traditional payment rails that involve delays.

The announcement reflects Intuit’s continued alignment with evolving payment technologies, enabling businesses to optimize working capital, streamline financial operations, and reduce settlement waiting periods.

Key Announcement Details

Certification, Network, and Readiness Milestone

• Announcement Type: Completion of FedNow® Service certification and readiness program
• Certifying Authority: Federal Reserve System – FedNow® Service
• Certification Completion Date Context: April 9, 2026 (Eastern Daylight Time)
• Certification Scope: Federal Reserve certification and readiness program for FedNow® Service
• Readiness Outcome: Marks Intuit’s readiness to expand instant payments capabilities
• Operational Readiness: Prepared to send instant payment transactions through the FedNow network
• Milestone Characterization: Identified as a milestone in expanding instant payments across Intuit’s ecosystem
• Network Integration Type: Integration into the Federal Reserve’s instant payments infrastructure
• Transaction Capability: Enables sending instant payment transactions on behalf of customers
• Settlement Capability: Immediate settlement of funds through FedNow-enabled transactions

Company Identity, Brand Portfolio, and Market Presence

• Company: Intuit (NASDAQ: INTU)
• Company Description: Global financial technology platform
• Brand Portfolio: TurboTax, Credit Karma, QuickBooks, Mailchimp, Intuit Enterprise Suite
• Customer Base Scale: Approximately 100 million customers worldwide
• Platform Scope: Serves both businesses and consumers
• Core Focus: Supporting financial decision-making and money management
• Mission Orientation: Powering prosperity for individuals and communities
• Operational History: More than 40 years of platform operation
• Platform Role: Handles high-stakes financial decisions across multiple financial domains

Integration Model and Financial Institution Collaboration Framework

• Participation Model: Works with financial institutions to send instant payments
• Execution Structure: Transactions executed on behalf of customers through partner banks
• Model Flexibility: Flexible participation model enabling scalable adoption
• Banking Integration: Combines Intuit’s platform with regulated banking infrastructure
• Network Communication: Supports seamless communication across banking networks
• Adoption Enablement: Accelerates adoption of modern U.S. payment infrastructure
• Operational Coordination: Aligns platform services with banking network capabilities

Core Payment Infrastructure and Real-Time Capabilities

• Primary Capability: Instant money movement across Intuit’s platform
• Settlement Speed: Immediate settlement compared to traditional delayed systems
• Payment Availability: Real-time transaction capability
• Infrastructure Role: Enables faster and more reliable payment execution
• System Functionality: Supports real-time communication across financial systems
• ACH Comparison: Eliminates multi-day settlement delays associated with ACH
• Operational Outcome: Provides faster access to funds and improved transaction timing

Business Use Case Enablement Across Financial Workflows

Instantly Payable Invoices

• Functionality: Enables invoices to be paid instantly
• Settlement Improvement: Reduces multi-day ACH settlement delays
• Speed Metric: Payments processed up to four times faster
• Cash Flow Effect: Accelerates receivables collection
• Operational Impact: Reduces waiting time for incoming funds

Real-Time Payroll Execution

• Capability: Enables payroll to be executed at the moment work is completed
• Payment Method: Instant wage payments through FedNow Service
• Processing Change: Eliminates delays associated with scheduled payroll cycles
• Workforce Impact: Immediate compensation availability for workers
• Operational Benefit: Aligns payroll timing with job completion

On-Demand Bill Payment Functionality

• Capability: Enables instant bill payments using FedNow features
• Processing Advantage: Eliminates delays in bill payment processing
• Financial Impact: Helps businesses avoid late fees
• Vendor Management: Improves timing of payments to vendors
• Operational Outcome: Supports efficient vendor relationship management

Cash Flow Optimization and Financial Management Outcomes

• Primary Objective: Improve cash flow certainty for businesses
• Liquidity Access: Immediate availability of funds upon payment
• Working Capital Impact: Enhances management of operational cash flow
• Financial Predictability: Improves certainty of payment timing
• Operational Efficiency: Streamlines receivables and payables workflows
• Delay Elimination: Removes time gaps between payment initiation and settlement
• Business Impact: Supports financial stability and operational continuity

Technology Standards and Financial Data Infrastructure

• Data Standards: Utilizes modern financial data standards
• Communication Capability: Enables real-time communication across banking networks
• System Integration: Connects multiple financial systems within the ecosystem
• Platform Capability: Supports real-time transaction processing and messaging
• Infrastructure Integration: Combines payments, payroll, and banking into a unified system
• Technology Outcome: Enhances speed, accuracy, and interoperability of transactions

Platform Orchestration and Financial Workflow Coordination

• Platform Function: Acts as an intelligent orchestration layer
• Data Integration Scope: Combines tax, credit, banking, invoice, and payroll data
• Financial Visibility: Provides a 360-degree view of financial activity
• Settlement Optimization: Selects optimal payment rails, including FedNow®, based on speed and cost
• Operational Flow: Coordinates processes between earning income and utilizing funds
• Efficiency Outcome: Improves decision-making through integrated financial data

Scale of Financial Operations and Transaction Processing

• Invoice Processing Volume: Approximately $2 trillion annually
• Tax Refund Distribution: Approximately $105 billion annually
• Transaction Scope: Large-scale financial processing across multiple domains
• Platform Reach: Supports a broad range of financial activities for businesses and consumers

Ecosystem Connectivity and Unified Money Movement

• Ecosystem Scope: Facilitates money movement between consumers, businesses, and financial institutions
• Integration Objective: Enables real-time financial interactions across the ecosystem
• Platform Integration: Combines payments, payroll, and banking into a unified platform
• Network Effect: Supports interconnected financial services
• User Experience: Provides a unified and seamless financial operations environment

Leadership Statements and Strategic Messaging

• Executive Statement – James Barrese (SVP of Fintech, Intuit): Money movement should be instant, reliable, and seamless across consumers and businesses; integration with FedNow supports real-time money movement across Intuit’s ecosystem and enhances confidence in financial decisions
• Federal Reserve Statement – Mark Gould (Chief Payments Executive): FedNow certification demonstrates innovation in the payments ecosystem and supports business growth, operational efficiency, and improved customer service through instant payments

Strategic Direction and Industry Alignment

• Strategic Objective: Expand instant payment capabilities across Intuit’s platform
• Infrastructure Goal: Support modernization of U.S. payment systems
• Industry Contribution: Drives innovation in the payments ecosystem
• Adoption Impact: Encourages broader use of instant payment infrastructure
• Future Direction: Progress toward instant and transparent money movement

Customer Experience and Financial Confidence Outcomes

• User Benefit: Faster access to funds
• Financial Confidence: Increased confidence in financial decisions
• Operational Simplicity: Reduces manual coordination between financial processes
• Lifecycle Coverage: Supports end-to-end financial management
• Experience Enhancement: Improves speed, reliability, and efficiency of financial operations

Disclaimer, Product Direction, and Conditions

• Forward-Looking Nature: Information outlines general product direction
• Obligation Clause: Represents no obligation from Intuit
• Purchasing Advisory: Should not be relied upon for purchasing decisions
• Terms and Conditions: Additional terms, conditions, and fees may apply
• Eligibility Requirements: May apply depending on features and functionality
• Change Clause: Product features and functionality subject to change without notice

Completion of FedNow® Service Certification

Certification Milestone and Network Integration

The completion of the FedNow® Service certification and readiness program establishes Intuit as a participant capable of leveraging the instant payments infrastructure operated by the Federal Reserve. This certification signifies that Intuit has met the technical, operational, and compliance requirements necessary to support instant payment processing through the FedNow network.

Through this integration, Intuit is able to:

• Send instant payment transactions via partner financial institutions
• Support real-time settlement of funds
• Enable continuous payment availability beyond traditional banking hours

This milestone marks Intuit’s readiness to deliver real-time financial capabilities to its customer base, particularly businesses that require immediate access to funds for operational continuity.

Flexible Participation Model with Financial Institutions

Intuit’s participation in the FedNow network operates through a flexible partnership model with financial institutions, allowing it to initiate transactions on behalf of its customers. This structure enables Intuit to integrate banking infrastructure with its platform services, ensuring that customers can access instant payments without requiring direct integration with the Federal Reserve.

By working with financial institutions, Intuit facilitates:

• Seamless interoperability across banking networks
• Efficient transaction routing
• Enhanced reliability in payment execution

This model supports broader adoption of modern payment systems while maintaining compatibility with existing financial frameworks.

Accelerating How Businesses Get Paid, Pay, and Grow

Real-Time Financial Operations Across Business Functions

The integration of FedNow capabilities enables Intuit to deliver real-time financial workflows across multiple business functions. By adopting modern financial data standards, the platform supports seamless communication between systems, allowing transactions to be processed instantly.

This capability addresses several operational challenges faced by businesses, particularly those related to cash flow timing, payment delays, and financial predictability.

Instantly Payable Invoices

With FedNow integration, Intuit enables instantly payable invoices, reducing reliance on traditional Automated Clearing House (ACH) systems that require multiple days for settlement.

Key outcomes include:

• Payments processed up to four times faster compared to ACH timelines
• Reduced waiting periods for receivables
• Improved cash inflow predictability

This feature allows businesses to accelerate revenue cycles and maintain continuous liquidity.

Real-Time Payroll Capabilities

Intuit’s platform also supports real-time payroll processing, enabling employers to compensate workers immediately upon completion of work.

Key functionalities include:

• Instant wage disbursement via FedNow
• Elimination of payroll processing delays
• Improved workforce payment flexibility

This capability supports operational efficiency and aligns payment timing more closely with work completion.

On-Demand Bill Payment

The FedNow integration extends to on-demand bill payment functionality, allowing businesses to process payments instantly to vendors and service providers.

Benefits include:

• Avoidance of late payment penalties
• Improved vendor relationship management
• Real-time financial obligation settlement

This feature ensures that businesses can maintain timely payments without dependence on batch processing systems.

Leadership Commentary

James Barrese, Senior Vice President of Fintech at Intuit, stated:

“Money movement should be instant, reliable, and work seamlessly whether you’re a consumer paying a bill or a business paying an employee. By connecting to the FedNow network, we’re building toward a world where money moves in real time across Intuit’s entire ecosystem, between people, businesses, and the financial institutions that serve them. That’s what happens when you bring payments, payroll, and banking together on one platform: customers don’t just get their money faster, they gain more confidence in every financial decision.”

Mark Gould, Chief Payments Executive for Federal Reserve Financial Services, added:

“Intuit’s FedNow certification highlights how organizations are driving innovation across the payments ecosystem. By enabling instant payments, they’re helping businesses grow, efficiently manage operations, and better serve their customers. As more providers embed these capabilities into their platforms, we’re seeing continued progress toward a future of instant and transparent money movement for businesses of all sizes.”

Driving Global Prosperity Through a Unified Money Platform

Integrated Financial Data and Platform Capabilities

For more than four decades, Intuit has developed financial solutions designed to support both businesses and consumers in managing critical financial decisions. The platform integrates multiple financial domains, including:

• Tax data
• Credit information
• Banking transactions
• Invoice processing
• Payroll systems

By combining these data streams, Intuit provides a comprehensive financial view, enabling users to manage their financial activities more effectively.

Orchestration of Financial Workflows

Intuit’s platform functions as an intelligent orchestration layer, coordinating financial processes between earning revenue and utilizing funds. This includes selecting the most efficient settlement methods based on factors such as:

• Transaction speed
• Cost efficiency
• Operational requirements

The integration of FedNow enhances this orchestration by introducing instant settlement as a selectable payment rail, expanding the range of available financial pathways.

Scale of Financial Operations

Intuit’s platform operates at significant scale, supporting:

• Approximately $2 trillion in annual invoice processing
• More than $105 billion in tax refunds delivered annually

These figures reflect the platform’s role in managing large volumes of financial transactions, providing infrastructure for both consumer and business financial activities.

Unified Money Movement Infrastructure

The addition of FedNow capabilities contributes to Intuit’s broader objective of creating a unified money platform, where payments, payroll, and banking functions operate within a single integrated system. This approach supports:

• Faster financial transactions
• Improved operational efficiency
• Enhanced financial visibility for users

Disclaimer

This information is intended to outline Intuit’s general product direction and does not constitute a binding commitment. It should not be relied upon in making purchasing decisions. Additional terms, conditions, and fees may apply depending on specific features and functionality. Eligibility criteria may also apply. Product offerings, features, and functionality are subject to change without notice.

About Intuit

Intuit is a global financial technology platform focused on enabling prosperity for individuals and communities worldwide. The company serves approximately 100 million customers globally, offering a range of products including:

• TurboTax
• Credit Karma
• QuickBooks
• Mailchimp
• Intuit Enterprise Suite

Intuit’s solutions are designed to help users manage their financial lives, from tax preparation and credit management to business accounting and marketing. The company continues to develop innovative tools and services aimed at improving financial outcomes for its customers.

Media Contact

For additional information, visit intuit.com.

Source Attribution

Source: Company announcement