NCR and Autobooks Team on Payment Tools for Small Businesses

NCR and Autobooks have formed a partnership that adds integrated digital invoicing, payment acceptance and accounting features to NCR Digital Banking for financial institutions.

The strategic alliance offers users a suite of integrated payments and cash management solutions, built specifically for small businesses, the companies said in a Thursday (Aug. 3) press release.

“In recent years, third-party competitors have attempted to enter the small business segment with a wide range of products and services, many designed to disintermediate relationships with primary financial institutions,” Autobooks Chief Marketing Officer Derik Sutton said in the release. “Together, Autobooks and NCR are delivering leading digital-first payment and receivables tools, helping financial institutions strengthen relationships and loyalty with the critical small business market.”

PYMNTS research found that merchants are adopting digital payments to keep up with the demands of both consumers and B2B partners.

On the consumer front, businesses are working to accommodate the growing use of digital payments. In the B2B realm, they are using payments digitization to overcome the pain points inherent in legacy payment-based transactions, according to “Merchants Need Modern Payment Systems to Meet Customer Demand,” a PYMNTS and American Express collaboration.

The report also found that more than 75% of merchants said consumers would be at least very likely to switch merchants because retailers are not providing enough modern capabilities, including alternative payment methods in stores.

The new partnership of NCR and Autobooks enables small- to medium-sized businesses (SMBs) to accept payments in a variety of ways, both in-app and online, and manage those receivables through additional accounting and reporting tools, according to the press release.

These capabilities allow financial institutions to attract, retain and support SMB customers, the release said. The partnership has already produced results, with more than 100 joint financial institution customers going live.

Additionally, later this summer, the new partnership will also enable tap-to-pay capabilities that allow financial institutions to offer their SMB customers the ability to use smartphones to accept in-person, contactless payments, per the release.

“Together with Autobooks, we are providing small businesses with an easy way to get paid — an important yet traditionally underserved need,” NCR Digital Banking President Doug Brown said in the release. “These innovations will allow our banks and credit unions to grow deposit relationships, increase revenue and create a competitive differentiator.”