NEW YORK – American Express OPEN, the small business division of American Express, Monday launched AcceptPay.Com, an online invoicing and payment solution that can help business owners improve cash flow at a time when customers are taking a longer time to pay.
AcceptPay is a new online solution that allows business owners to create, send and track invoices – all in one place. Through AcceptPay, customers can pay the invoice through a variety of methods, including major credit and debit cards, eChecks, cash, or checks. Resulting payments are deposited directly into the business owner?s bank account.
?At a time when every dollar counts, business owners need tools and resources to help them better manage their firms? finances, and that is why we created this innovative payment collection solution that can help them get paid faster,? said Mary Ann Fitzmaurice Reilly, Senior Vice President, American Express OPEN. ?AcceptPay further demonstrates our commitment to offering entrepreneurs a full range of products and services that can help them manage through the recession and grow their enterprises.?
According to the American Express OPEN Small Business Monitor, a semi-annual survey of business owners, 60 percent of small business owners have cash flow concerns, with 20 percent of business owners reporting that the ability to pay bills on time is the most significant cash flow issue. In addition, 32 percent of small business owners are most likely to be more aggressive in collecting accounts receivable in order to improve cash flow ? the most popular tactic of those offered in the survey.
AcceptPay features and benefits include:
Faster payments: Customer payments are deposited directly into a linked bank account designated by the AcceptPay user;
Variety of Payment types: Customers can choose multiple online payment options including major credit and debit cards, eChecks, cash or checks;
Improved efficiency: Business owners can create and send invoices, as well as track and organize invoices, payments and outstanding receivables online ? through a single web-based portal;
Added financial control: Business owners can track and view invoices and receivables via automated or custom reports. All of these records can be seamlessly integrated into QuickBooks? software.
Ease of use: AcceptPay does not require a software download or customer website.
Every business owner, whether or not they are an American Express OPEN Cardmember, is eligible to apply for AcceptPay from American Express OPEN. There is no set up fee, and the service is priced at $20/month. Any business owner can also register for AcceptPay Lite, which is a free invoicing-only solution that provides the opportunity to test the product.
American Express OPEN partnered with PaySimple, a leading provider of SaaS (Software as a Service) on-demand electronic payment solutions for small businesses, to design AcceptPay. OPEN and PaySimple worked with business owners to create product features and integrated feedback from product test groups.
PaySimple creates platforms that simplify and empower the lives of small business owners. PaySimple provides an on-demand Software as a Service (SaaS) platform that enables small businesses to bill, collect, and manage their customer payments under one user-friendly system. The PaySimple solution includes: recurring billing, email invoicing, ACH direct-debit, credit card processing, echeck processing, online payments, and more.
For more information, click on click on PaySimple.Com
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