NMI Embeds Payment Functionality Into Popular Accounting Software
Embedded payments infrastructure provider NMI has launched a new extension for use with its NMI Payment Gateway that embeds payment functionality directly into popular accounting software like QuickBooks and Xero.
This new extension, Bill Connect, is powered by Biller Genie, NMI said in a Thursday (Jan. 23) press release.
Bill Connect helps the small and medium-sized businesses (SMBs) that use the popular accounting software automate and streamline invoicing, accept secure payments and automate reconciliation — all within a single platform and without a need for enterprise resource planning (ERP) systems — according to the release.
“By integrating payments directly into the accounting software SMBs already rely on, we’re eliminating complexity and creating new revenue opportunities for ISOs and software providers,” NMI Senior Product Manager Sade Ayinde said in the release. “Our partnership with Biller Genie is all about enabling our partners to empower SMBs to streamline their operations, improve cash flow and deliver an exceptional experience to their customers.”
With Bill Connect, merchants can reduce the number of overdue invoices by 40%, get paid 15 days faster on average, and save 10 to 20 hours of administrative work each week, the release said.
The solution also enables merchants to securely accept credit card or ACH payments, including recurring and bulk transactions, and generate branded invoices within their existing accounting software, per the release.
“At Biller Genie, our mission is to simplify accounts receivable for small and mid-sized businesses,” Biller Genie President Garima Shah said in the release. “Partnering with NMI, the platform of choice for so many SMBs, allows us to extend our automated invoicing and payment solutions to a broader audience.”
In another recently announced partnership, payment technology firm Payroc said Jan. 13 that it teamed up with Biller Genie to provide a more streamlined payment experience for QuickBooks merchants.
The integration provides automated invoicing, payment reminders and collections, as well as Payroc’s RewardPay Choice, which lets merchants lower processing fees by passing a portion of the costs to customers via a compliant surcharge program.
NMI expanded its capabilities in June by enhancing its integration with Shopify, ensuring that NMI’s independent sales organization (ISO) partners, software providers and payment professionals can offer their merchants an integrated payment experience that aligns with Shopify’s latest requirements.
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