B2B Payments

ZipBooks SME Funding Lands On The iPhone

ZipBooks, which provides small and medium-sized businesses with invoice financing tools and accounting software, is going mobile. The company announced on Wednesday (April 27) that its free iPhone app is now live, providing small business owners with a mobile version of that accounting and factoring service.

The app includes a “Get Paid Now” button, through which SMEs can submit outstanding invoices to get financing. In a statement, ZipBooks Founder and CEO Tim Chaves pointed to lengthening payment cycles as a key driver behind the popularity of invoice financing.

“There are so many great businesses out there — especially growing businesses — that are profitable on paper but struggle to keep their heads above water because payment terms leave them waiting 30 to 90 days to get paid,” the executive said.

ZipBooks links SMEs with invoice financing at a 0.5 percent per week rate; repayments are automated across 12 weeks, the company explained. The company also offers card processing services, as well as HR solutions, like time tracking.

Last month, the company rolled out a free SME accounting tool that integrates into invoice financing and recurring payment needs of business users.

Despite FinServ players increasingly developing mobile-friendly solutions, some analysts have called into question whether the mobile device can take off in the enterprise realm.

In a recent interview with PYMNTS, Conferma CEO Simon Barker discussed the realities of B2B payments today, one in which mobile tools are struggling to gain traction. That doesn’t mean there isn’t hope for the technology, however.

Conferma released new research earlier this month that found CFOs are eyeing mobile solutions as a way to improve cash management and other treasury functions.

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