Competitors: Square And Intuit Agree To Work Together.

Today Intuit has announced a dramatic change in the way startups can integrate with the data that over 95% of small business create, an open API. Although Intuit has had many APIs and developer relationships in the past, this is a much deeper integration and it includes the very popular web based Quickbooks platform. The API relationship will be active after November 19, 2013.

With this announcement any developer can leverage the huge amount of financial data that businesses create inside of Quickbooks. Of course it has been the dream of countless startups to disrupt Quickbooks, billions of dollars and countless companies later, Quickbooks place with small and medium sized businesses just becomes more cemented.

Intuit’s API premise is centered around the same premise that built the huge ecosystem around Salesforce. QuickBooks is positioning itself to be a small business operating system. This is a rather big move for Intuit and will allow the company to continue to play the c ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.