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  • Payment
  • France

Qonto announces the launch of a simplified billing service

The neo-bank for professionals continues to roll out new features to improve the customer experience with a simplified billing system.

FACTS

  • This solution simplifies the process of creating, sharing and managing professional and personalized invoices directly from the Qonto account.

  • Users will be able to generate, edit and send customised invoices with their company logo in a few clicks.

  • The platform will also automatically track invoices for better visibility of incoming and pending payments.

  • Once an invoice is paid, it will be automatically associated with the corresponding transaction.

  • SMEs or freelancers who invoice directly from Qonto to their customers in the SEPA zone will also be able to receive instant transfers.

  • Qonto also offers an advance payment service in partnership with Edebex.

CHALLENGES

  • "Getting paid on time is a major challenge for the self-employed and small businesses. According to a BCG report, the self-employed in France, Germany and Spain spend an average of 26% of their working week on "ancillary tasks" which include administrative operations such as invoicing or payment management.

  • Complying with the regulations: Introduced by the 2020 Finance Act, the obligation to use electronic invoicing in business-to-business transactions will be rolled out gradually until 2026, taking into account the size of businesses, to enable each one to take on these new obligations under the best possible conditions:

  • from 1 July 2024 for large companies,

  • from 1 January 2025 for medium-sized companies,

  • from 1 January 2026 for small and medium-sized enterprises and microenterprises.

MARKET PERSPECTIVE

  • Even if it is the leader in its market segment, Qonto has to face competition that is also very dynamic, such as the fintech Libeo, which specialises in invoice payment and has developed a SaaS platform combining dematerialisation and centralisation of invoices with a direct payment solution.