BILL Extends Leadership in Payments with New Capabilities to Deliver More Choice and Faster Speed for SMBs and Accountants
BILL, a financial operations platform for SMBs, has announced new payment offerings to enhance speed, ease, and security for businesses and accountants. The innovations include:
1. Local Transfer: A new international payment option allowing same-day payments in local currencies without intermediary bank fees.
2. Instant Payment: An enhanced feature enabling real-time payments within the U.S., available 24/7 including holidays.
3. Invoice Financing: A simplified process offering up to $100,000 in short-term credit against outstanding invoices, accessible within 5-10 minutes after approval.
These offerings aim to provide SMBs with more flexibility, control, and access to capital, addressing the increasing complexity of global payments and cash flow management.
BILL, una piattaforma di operazioni finanziarie per le piccole e medie imprese (PMI), ha annunciato nuove offerte di pagamento per migliorare la velocità, la facilità e la sicurezza per le aziende e i commercialisti. Le innovazioni includono:
1. Trasferimento Locale: Una nuova opzione di pagamento internazionale che consente pagamenti nello stesso giorno in valute locali senza commissioni bancarie intermediarie.
2. Pagamento Immediato: Una funzionalità potenziata che consente pagamenti in tempo reale all'interno degli Stati Uniti, disponibile 24 ore su 24, 7 giorni su 7, inclusi i giorni festivi.
3. Finanziamento Fatture: Un processo semplificato che offre fino a $100,000 in credito a breve termine contro fatture non pagate, accessibile entro 5-10 minuti dopo l'approvazione.
Queste offerte mirano a fornire alle PMI maggiore flessibilità, controllo e accesso al capitale, affrontando la crescente complessità dei pagamenti globali e della gestione del flusso di cassa.
BILL, una plataforma de operaciones financieras para pequeñas y medianas empresas (PYME), ha anunciado nuevas ofertas de pago para mejorar la velocidad, la facilidad y la seguridad para los negocios y contadores. Las innovaciones incluyen:
1. Transferencia Local: Una nueva opción de pago internacional que permite pagos en el mismo día en monedas locales sin comisiones de bancos intermediarios.
2. Pago Instantáneo: Una funcionalidad mejorada que permite pagos en tiempo real dentro de EE. UU., disponible las 24 horas del día, los 7 días de la semana, incluidos los días festivos.
3. Financiamiento de Facturas: Un proceso simplificado que ofrece hasta $100,000 en crédito a corto plazo contra facturas pendientes, accesible dentro de los 5 a 10 minutos tras la aprobación.
Estas ofertas tienen como objetivo proporcionar a las PYME mayor flexibilidad, control y acceso al capital, abordando la creciente complejidad de los pagos globales y la gestión del flujo de efectivo.
BILL, 중소기업을 위한 금융 운영 플랫폼이 비즈니스 및 회계사를 위한 속도, 용이성 및 보안을 향상시키기 위한 새로운 결제 서비스들을 발표했습니다. 혁신 사항은 다음과 같습니다:
1. 지역 이체: 중개 은행 수수료 없이 현지 통화로 당일 결제를 가능하게 하는 새로운 국제 결제 옵션입니다.
2. 즉시 결제: 미국 내에서 실시간 결제를 가능하게 하는 강화된 기능으로, 연중 무휴 24시간 이용할 수 있습니다.
3. 청구서 자금 조달: 승인 후 5-10분 이내에 미지급 청구서에 대해 최대 $100,000의 단기 신용을 제공하는 간소화된 프로세스입니다.
이러한 서비스는 중소기업에 더 많은 유연성, 통제력 및 자본 접근성을 제공하여, 글로벌 결제 및 현금 흐름 관리의 복잡성이 증가하는 문제를 해결하는 것을 목표로 합니다.
BILL, une plateforme d'opérations financières pour les PME, a annoncé de nouvelles offres de paiement visant à améliorer la rapidité, la facilité et la sécurité pour les entreprises et les comptables. Les innovations comprennent :
1. Virement Local : Une nouvelle option de paiement international permettant des paiements le même jour en devises locales sans frais bancaires intermédiaires.
2. Paiement Instantané : Une fonctionnalité améliorée permettant des paiements en temps réel aux États-Unis, disponible 24 heures sur 24, 7 jours sur 7, y compris les jours fériés.
3. Financement de Factures : Un processus simplifié offrant jusqu'à 100,000 $ de crédit à court terme contre des factures impayées, accessible dans les 5 à 10 minutes suivant l'approbation.
Ces offres visent à offrir aux PME plus de flexibilité, de contrôle et d'accès au capital, face à la complexité croissante des paiements mondiaux et de la gestion des flux de trésorerie.
BILL, eine Finanzoperationsplattform für kleine und mittlere Unternehmen (KMU), hat neue Zahlungsangebote angekündigt, um Geschwindigkeit, Einfachheit und Sicherheit für Unternehmen und Buchhalter zu verbessern. Die Innovationen umfassen:
1. Lokale Überweisung: Eine neue internationale Zahlungsoption, die Tag-gleich-Zahlungen in lokalen Währungen ohne Zwischenbankgebühren ermöglicht.
2. Sofortzahlung: Eine verbesserte Funktion, die Echtzeit-Zahlungen innerhalb der USA ermöglicht, verfügbar rund um die Uhr an sieben Tagen die Woche, einschließlich Feiertagen.
3. Rechnungsfinanzierung: Ein vereinfachter Prozess, der bis zu 100.000 Dollar an kurzfristigem Kredit gegen offene Rechnungen bietet, dessen Zugriff innerhalb von 5-10 Minuten nach Genehmigung möglich ist.
Diese Angebote zielen darauf ab, den KMU mehr Flexibilität, Kontrolle und Zugang zu Kapital zu bieten und die wachsende Komplexität globaler Zahlungen und des Cashflow-Managements anzugehen.
- Introduction of Local Transfer for faster and cheaper international payments
- Enhancement of Instant Payment feature for real-time domestic transactions
- Simplified Invoice Financing process offering up to $100,000 in quick short-term credit
- Expansion of payment options providing more flexibility and control for SMBs
- Positive testimonials from clients highlighting improved payment speed and efficiency
- None.
Insights
BILL's new payment offerings represent a significant enhancement to their financial operations platform, addressing key pain points for SMBs and accountants. The Local Transfer feature for international payments is particularly noteworthy, potentially reducing transaction times by up to 4 days and eliminating intermediary bank fees. This could lead to substantial cost savings and improved cash flow management for businesses operating globally.
The introduction of real-time domestic payments and streamlined invoice financing further strengthens BILL's value proposition. The ability to access up to
However, investors should note that while these enhancements are promising, their impact on BILL's financial performance will depend on adoption rates and the company's ability to monetize these new services effectively. The expansion of Local Transfer to 40 countries could be a key growth driver to watch in the coming quarters.
BILL's new offerings align well with current market trends in B2B payments and financial operations. The demand for faster, more efficient international payments is growing, especially among SMBs expanding globally. By addressing this need, BILL is tapping into a significant market opportunity.
The testimonials from DayOne Solutions and Rubino highlight the practical benefits of BILL's platform, suggesting strong potential for customer retention and word-of-mouth growth. The emphasis on BILL as a "requirement" for Rubino's clients indicates a deepening integration into business processes, which could lead to increased customer stickiness and recurring revenue.
From a competitive standpoint, these enhancements differentiate BILL from traditional financial institutions and some fintech competitors. The combination of international payments, real-time domestic transfers and quick access to capital creates a comprehensive solution that could appeal to a broad range of SMBs. This holistic approach may help BILL capture a larger share of the SMB financial operations market.
Innovative offerings provide businesses with more flexibility, control, and access to capital
“SMBs are increasingly facing more complexity as they make payments to vendors, partners, and customers both locally and around the world,” said Mary Kay Bowman, EVP, GM of Payments and Financial Services at BILL. “This is why BILL continues to enhance our payment experiences to give SMBs more flexibility to make the payment choices businesses need and to manage and optimize their cash flow. BILL's sophisticated payment infrastructure gives SMBs the ability to meet unique customer and supplier payment needs, while accelerating payment speed and reducing risk.”
Send International Funds in Local Currency Faster with Local Transfer
Local Transfer, a new BILL Accounts Payable option, empowers businesses to make faster same-day international payments to vendors in their local currency without the need to go through intermediary banks and incur the associated fees. Transactions via BILL’s Local Transfer option are delivered directly to local banks abroad, enabling businesses to pay overseas vendors ‘like a local’ from anywhere in the world.
Key benefits include:
- Faster international payments: Local Transfer payments in local currency can arrive as soon as the same day. They can be delivered up to 4 days faster than FX (foreign exchange) wires, and up to 3 days faster than USD wires sent via BILL.
- Save money and minimize exchange rate risk: Faster international payments enhance cash flow efficiency and limit the possibility of currency fluctuations, which helps minimize exchange rate exposure. Businesses pay no intermediary bank fees or wire fees for payments made in a vendor’s local currency. Vendors also receive local currency payments sent via Local Transfer without incurring a wire receiving fee. Exchange rates may apply.
- Save time and increase productivity: Businesses can centralize international and domestic payments through one secure, synchronized financial operations platform.
Enhanced Payments Capabilities Expand Breadth of Payment Choices
New enhancements to BILL’s payments experience provide businesses with more flexibility, control, and access to capital to help SMBs better manage and optimize their cash flow.
-
Send payments in real time: Businesses can now send payments to their vendors in the
U.S. within minutes with the new BILL Accounts Payable Instant Payment option, which leverages a real-time payment network between financial institutions. Payments can be sent and received instantly, 24/7, and on holidays or weekends, allowing businesses to maximize cash flow in real time. -
Get easier access to capital: BILL Accounts Receivable Invoice Financing* is a short-term line of credit. Businesses that get paid with BILL can receive an advance against outstanding invoices and improve their cash flow. A new simplified Invoice Financing process allows businesses to access up to
$100,000
SMBs and Accountants See Value in BILL’s Robust Payment Offerings
Robert Bess, CEO of DayOne Solutions
"At DayOne Solutions, the speed of international payments is one of our top priorities. We pay our contractors in
Patrick Curtis, CPA, CGMA, Shareholder at Rubino
“BILL is a requirement for our clients and is an important part of our Rubino CAS technology stack. We tell clients, ‘This is our tech stack, and BILL is a part of that.’ We drive that change. Our clients appreciate that BILL’s payment choices provide security, flexibility, and control for their payment needs. BILL’s payment capabilities make clients—and us—feel confident about using BILL. BILL has become a vital capability for Rubino’s clients.”
Availability
- BILL’s Local Transfer option for international payments is currently available in 15 countries and will soon become available in 40 countries.
- Enhancements to Instant Payment and Invoice Financing are available now. To get started today, request a demo here.
* BILL Invoice Financing line of credit is issued by WebBank and offered through Bill.com Capital 3, LLC. See FAQs for more details.
** Requires an eligible bank account that supports instant payments. Payments made to non-eligible accounts will be delivered via ACH, which typically arrive in 1-2 business days.
About BILL
BILL (NYSE:BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL’s proprietary member network of millions to pay or get paid faster. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240925536798/en/
Press Contact:
John Welton
john.welton@hq.bill.com
IR Contact:
Karen Sansot
ksansot@hq.bill.com
Source: BILL
FAQ
What new payment capabilities has BILL (NYSE:BILL) introduced for SMBs?
How does BILL's new Local Transfer option benefit businesses making international payments?
What is the availability of BILL's new Local Transfer option for international payments?
How quickly can businesses access funds through BILL's enhanced Invoice Financing?
