Global Payment Systems for Business Growth

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Questions and Answers

What is the benefit of BILL's unlimited online document storage for companies?

It reduces manual filing (correct)

It allows for cross-border payments

It increases payment limits

It enables international check payments

What is BILL suitable for?

High-growth small businesses with complex global payment processes

Large enterprises with multiple entities

Slower-growth small businesses with low payment volumes and simple domestic-only remittance (correct)

Businesses with a few suppliers to pay and no need for financial controls

Why is BILL's wire payment method prone to fraud?

Because it is a wire payment method (correct)

Because it is prone to hacking

Because it marks up FX fees instead of charging a transaction fee

Because it is only available in 137 countries

What is a key advantage of Tipalti over BILL?

Ability to handle complex global payment processes Signup and view all the answers

What is the funding currency supported by BILL for international payments?

USD only Signup and view all the answers

What is the limitation of BILL's payment amounts?

Individual payments are capped at $15,000 Signup and view all the answers

What is a benefit of Tipalti's automation of the entire payables workflow?

Faster payments and greater flexibility in payment options Signup and view all the answers

What is a strength of BILL?

Recognizable brand presence among SMBs and bookkeepers/accountants Signup and view all the answers

Why do payees have to wait for several days for funds to clear?

Because BILL relies on pulling funds one by one from the client's account as an ACH pull Signup and view all the answers

What is a feature of Tipalti's service?

Year-end withholdings and W-9/W-8 tax collection and validation Signup and view all the answers

What is the revenue earned by BILL from interest earned on customer funds held in trust?

$114M Signup and view all the answers

What is a limitation of BILL for mid-sized clients?

Costs increase for mid-sized clients Signup and view all the answers

What is a common issue mentioned in many online reviews about BILL's support?

Lack of phone support and inexperienced associates Signup and view all the answers

What is a key difference between Tipalti and BILL?

Tipalti is more suitable for high-growth small businesses with complex global payment processes Signup and view all the answers

What is the exchange rate markup used by BILL for international payments?

A markup on FX fees Signup and view all the answers

What is a feature of Tipalti's payables workflow?

Touchless invoice processing with header and line level OCR Signup and view all the answers

Study Notes

Global Payment Systems

Tipalti is suitable for businesses with complex global payment processes, financial controls, tax, and regulatory compliance, and a multi-entity environment.
BILL is limited for slower-growth small businesses with low payment volumes and simple domestic-only remittance.

Domestic Payment Systems

BILL is suitable for slower-growth small businesses with a few suppliers to pay.
Tipalti is suitable for businesses with hundreds of suppliers, offering automation of the entire payables workflow, mass batch payments, and financial, tax, and regulatory controls.

BILL's Strengths

Recognizable brand presence, especially among SMBs and bookkeepers/accountants.
2.5M+ network members, 100K+ customers, and $120B+ payments per year.
Integrations with NetSuite, QuickBooks, Xero, and Intacct.
Low cost, with pricing by users and transactions.
Free trial and self-guided tours.
AP/AR & Connect platform supports both, with access to BILL functionality from online banking portals.
Licensed in all 50 states, with a mobile app for iOS and Android devices.
Unlimited online document storage.

BILL's Weaknesses

Limited cross-border payments, with a maximum of 137 countries via wires, prone to fraud.
"Free" wires in local currency, but with marked-up FX fees instead of a transaction fee.
No international check payments, and no longer supports PayPal as a payment method.
International payments only for US-based companies with a US bank account, supporting only USD as funding currency.
Payment limits, with individual payments capped at $15,000, and no fee splitting.
Slow payments, with delays due to ACH pull, and a minimum of 7+ days for funds to clear.
Poor support, with lack of phone support and inexperienced associates.
Float revenue of $114M for FY2023, earned from interest on customer funds held in trust.

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Description

This quiz compares payment systems, such as BILL and Tipalti, for small businesses with low payment volumes to those that can handle complex global payment processes, financial controls, and regulatory compliance.