BILL Taps Adyen for Acquiring and Card Issuing Services

FinTech platform Adyen has launched a partnership with small business-focused financial operations platform BILL.

The collaboration, announced Thursday (Feb. 1), will see Adyen deliver “acquiring and issuing experiences” for BILL’s accounts payable (AP) and accounts receivable (AR) solutions.

“The partnership started with Adyen for Platforms’ card acquiring and has grown to also include card issuing capabilities, marking a natural progression across Adyen’s platform offering,” Adyen said in a news release.

According to the release, Adyen’s card issuing services have been incorporated into BILL’s virtual card offering as part of BILL’s AR and AP solutions for small- to medium-sized businesses (SMBs).

“Helping our SMB customers manage their cash flow means making their payments easy and secure,” said Loren Padelford, BILL’s chief commercial officer. “Because of their trust in BILL, our customers can easily make their payments and get back to running their business. We are pleased to work with Adyen to better ensure continued resiliency for our customers and their card products and services needs.”

The partnership is happening at a moment when nearly 80% of medium-sized companies — those generating between $3.5 million and $15 million in yearly revenue — are expecting a surge in the volume of payments processed through their AP systems, according to joint research by PYMNTS Intelligence and American Express.

In addition, 75% of these companies anticipate an increase in the number of invoices handled through their AR systems in the next three years.

And while just 13% of businesses say they anticipate significant growth in AP system payments in the next three years, this figure climbed to 17% for relatively small businesses.

“For these smaller enterprises, the pivotal question remains whether their existing processes can effectively handle the anticipated increases, making automation of accounting processes a potential advantage,” PYMNTS wrote earlier this month. “The benefits of this shift are manifold. Companies that have embraced automation report experiencing more precise, efficient and streamlined operations.”

The BILL/Adyen partnership follows last month’s news that Swedish payments FinTech Klarna had added Adyen’s acquiring capabilities to simplify card payments for its 150 million consumers and 500,000 retail partners.

The companies had an existing payments partnership, but the new arrangement gives Adyen the role of acquiring bank on behalf of Klarna’s various consumer offerings in Europe, North America and Asia.

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