Online invoice management provider Bill.com has introduced a new online bill payment service for small and midsized businesses.
The Bill.com ePayments service allows businesses and their accountants to pay any vendor, employee or individual electronically via direct deposit rather than through paper checks. The direct deposits can go to utility companies, credit card providers and other vendors. The service will work with any U.S. bank.
Until now it has not been very easy for small businesses to pay other small businesses via direct deposit, said Bill.com vice president of marketing Jeff Schultz. Instead of receiving a paper check, the vendor now receives an e-mail saying they have been paid.
The new service costs 49 cents per payment. It synchronizes not only with Bill.coms Web-based software, but also with QuickBooks, QuickBooks Online and Intacct.
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