Bill.com sees increase in electronic payments

As this blog has mentioned in the past, Bill.com is helping change the way small businesses manage their AP and AR practices. With its innovative SaaS platform, the company encourages the use of electronic and online transactions. In fact, according to a new press release from the company, 40 percent of customer payments have transitioned from check to electronic.

Bill.com's advantage is that it helps small businesses that traditionally lack the resources needed to integrate electronic payments with accounting software and digital documents.

In the press release, Bill.com CEO René Lacerte explained that companies need to keep up with both consumers and large corporations who have already moved to adopt electronic payments.

"Our incredible network growth marks the advent of the ACH revolution," Lacerte said. "Consumers have already adopted ePayments, but businesses have lagged. Now, just as we freed financial professionals from error-prone, tedious manual accounting processes, we are removing the shackles of paper checks. Bill.com is democratizing treasury services and making ACH the payment method not of the future, but of now."

Bill.com is doing a great job helping its customers tackle the unique challenges of accepting commercial payments as well.

Businesses can use their Vantage Level 3 merchant account with the Bill.com service to submit the line-item invoice detail needed to qualify card payments at the lowest possible interchange rates and improve their own profitability.

Vantage and Bill.com offer a suite of business payment services to lower cost, increase productivity and enhance security, while extracting the greatest possible value from each transaction.

by Ty Hardison

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