Bill.com, the leading digital business payments company, today announced the general availability of International Business Payments.
Now all Bill.com customers can make electronic international business payments just as easily as they make domestic payments.
Small and mid-size companies in the United States can now pay vendors in nearly 40 countries, including India, China, the Euro Zone, and many other countries. Payments can be made in both U.S. dollars or local currencies. Additionally, Bill.com International Business Payments is now supported on iOS and Android, making it that much simpler to complete payments. The general availability follows a highly successful pilot which included hundreds of businesses making payments across the globe.
“The future of business is digital, but it’s also global. Today, Bill.com processes over $62 billion annually in business payments,” said René Lacerte, CEO and Founder of Bill.com. “With Bill.com International Business Payments, we provide small and mid-size companies a simple and cost-effective way to pay electronically all over the world, with just a few clicks. We are delighted to see the customer response to this new offering.”
When making cross-border payments with banks, small and mid-size companies often deal with having to enter the same information twice -- once into a bank wire form and then again into accounting software -- which can result in errors. With the Bill.com International Business Payments solution, users can receive, process, and pay invoices in U.S. dollars or local currencies and then sync accurately with accounting software including Sage Intacct, NetSuite, QuickBooks, and Xero, providing end-to-end cashflow visibility and eliminating the need for double data entry.
Cost is also a key concern. Companies that use Bill.com International Payments save an average of 50 percent on the cost of wire transfers, compared to banks.
“Using time-saving automated tools like Bill.com has enabled me to run operations for a business that spans the globe,” said Judy Williams, Cofounder and Operations Manager, The New Stack. “Bill.com International Business Payments allows me to pay our bills in one place, sending payments to contractors in the U.S., Canada, Spain, the U.K. and more.”