TD Bank (NYSE: TD) reveals that it has expanded its working relationship with Autobooks in order to add invoicing as a feature to its TD Business Simple Checking, which should make it easier for small and micro businesses to process invoices and “get paid faster.”
“Probably the greatest pain point for small businesses is actually getting paid for the services they provide,” stated Jo Jagadish, Head of Corporate Products and Services for TD Bank.
“The new tool will make things easier, faster and enable our Small Business customers to get paid, almost immediately in most instances, when the process previously could take up to a week or longer.”
The digital invoicing and payment acceptance capabilities were “developed by Autobooks,” the announcement noted while adding that TD Bank and Autobooks had previously “collaborated to develop TD Online Accounting, a full accounting and cash flow management suite made available to TD small business customers.”
As noted in the release, this most recent effort “makes digital invoicing and online payment acceptance standard features of TD Business Simple Checking.” Small and micro business customers can now “accept credit card and electronic payments that directly settle in their TD account, improving cash flow and liquidity.”
“Small businesses account for 99.7% of all companies in the country, and they all need banking and payment services built for them,” noted Steve Robert, CEO of Autobooks.
Robert also mentioned:
“We are thrilled to collaborate with TD to reimagine their clients’ small business banking experience – starting with making it easier for small and micro businesses to get paid directly into their TD Business Simple Checking account.”
As noted in the release, TD Bank is one of the 10 largest banks in the United States, offering over 9.5 million customers with a complete range of retail, small business and commercial banking products and services “at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida.”