Revolut BillPay aims to make bill management easier

Revolut Business has launched a new, comprehensive service for companies. It is designed to help companies manage and pay all their international supplier invoices, with just a few clicks. The launch of this new service comes at a time when Revolut is reporting the success of its offer for businesses.

FACTS

• Revolut BillPay is presented as a tool dedicated to the management and payment of supplier invoices. It enables users to import invoices automatically from their accounting software.
• Data extraction is automated, thanks to the use of Artificial Intelligence technology.
• Revolut Business customers can now take advantage of Revolut BillPay to optimize their bill payment process, while benefiting from the supervision of their operations.
• The service's promise is to reduce manual data entry, automate approvals and pay suppliers quickly.
• Revolut BillPay is available via Revolut Business for customers with Grow, Scale and Enterprise subscriptions. The service manages and pays invoices to over 150 countries.

CHALLENGES

• Expand existing services: Revolut Business had already been offering to handle invoicing for SMEs since 2021. Its dedicated Revolut Invoices service enables the neo-bank's business customers to create and send customer invoices from their bank account.
• With Revolut BillPay, Revolut goes one step further, enabling invoices to be extracted directly from accounting software or uploaded to a Revolut Business account. To achieve this, Revolut is counting on integration with the main accounting software packages, including QuickBooks, Xero and FreeAgent.
• Opening up to a wider audience: Revolut Business is enriching its offer over time, and recently launched Push-to-Card, a service enabling companies to pay their customers and subcontractors anywhere in the world. The company also plans to offer other new services in the near future, including a payment acceptance terminal.

MARKET PERSPECTIVE

• The launch of Revolut BillPay coincides with the presentation by Revolut of strong results from its business-to-business entity.
• Revolut Business now boasts sales of over 450 million euros. The service handles 860 million euros in transactions in France alone. The service is also very dynamic in France, with an average of more than 1,302 newly active businesses added every month (compared with just over 20,000 worldwide).
• Revolut Business is available in 40 markets and boasts several hundred thousand corporate customers worldwide.