Intuit tightens PayPal integration with data synchronization app

Intuit says roughly 25 percent of its QuickBooks Online users report using PayPal in their accounts.

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Financial software maker Intuit has released a new synchronization app with PayPal.

The app enables users to import PayPal sales and transaction data automatically into QuickBooks Online. The app works in real time and with multiple payment channels, including mobile, e-commerce and point of sale.

Intuit says roughly 25 percent of its QuickBooks Online users report using PayPal in their accounts. QuickBooks also integrates with other payment platforms such as Square, in addition to Inuit's own in-house payment processing service.

"Our collaboration with PayPal, and the app we've built as a result, further broadens our thriving payments ecosystem," said Eric Dunn, Intuit's SVP for payments and commerce solutions.

At launch, the app is only available for US merchants, but Intuit plans to launch it in the UK, Australia and Canada later this year.

Intuit has made a substantial effort over the last year to open up its platform for these types of payment integrations. The company released an API last October in a QuickBooks Online overhaul that spurred both the PayPal and Square integrations. The API was aimed at giving developers better connection capabilities with Intuit's processing infrastructure.

Intuit is expected to report third quarter earnings on Thursday.

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