US business payment company Bill.com has released a new service enabling companies to pay, at get paid, more quickly.
The new solution Bill.com Fast Pay allows customers to expedite payments when businesses need to make them in an emergency, or need to maintain a tight cash flow. The digital solution allows overnight e-payments, tracks two-day and three-day cheques with full remittance information, and includes approval workflows and audit trails.
Getting paid on time keeps a small business running, but digital payment adoption for businesses remains slow.
“Our customers have told us they need a simple and secure solution for those times when they need to pay their vendors quickly,” said René Lacerte, CEO of Bill.com. “Fast Pay was developed in response to those unplanned or emergency situations. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS.”
Bill.com claims to have 600,000 users yearly, dealing with $17 billion invoices during the same period. The new solution is currenly only available in the US.
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