Now pay INSTANTLY from Bill.com with PayPal!
We are excited to announce that Bill.com now supports vendor payments using PayPal! Set up your vendors to receive PayPal payments, then pay them using your PayPal account directly from the Bill.com.
Set Up is Easy and Free!
Your Bill.com account is ready today to make PayPal payments:
- Add your PayPal Account. Log in to Bill.com, then go to "Set Up > Company > PayPal Accounts". Follow the instructions to validate your PayPal account. You'll log in to PayPal a second time to verify payment limits and funding sources.
- Set up your vendors. Want to pay a vendor by PayPal? Just add their PayPal email address to their vendor profile in Bill.com, and that option will be available when you pay bills.
Pay INSTANTLY From Your PayPal Account Into Your Vendor's PayPal Account
Bill.com’s paperless pay is a convenient option that makes AP quick and painless. Just set up your vendors to receive PayPal payments, then pay them using your PayPal account directly from the Bill.com platform. As long as you have enough funds in your PayPal account to cover the payment, the money moves instantly.
Don't have enough money to cover that payment? No worries — you can still make a payment and it will draw from your bank account linked to your PayPal account. It just won't be instant.
Lower Sales Costs for You and Your Vendor
One complaint we often hear about PayPal concerns costs. For each AR payment you receive from customers, PayPal gets a percentage of the entire amount. The more you collect from customers, the more you pay PayPal.
A 2.9% fee may not seem like much, but it adds up quickly as your business grows. For example, a $15,000 payment from a vendor would cost you $435 before you even see a dime.
PayPal payments through Bill.com cost a flat fee of $0.99 per payment* including all PayPal fees to both you and your vendor. Your vendors can now accept electronic payments into their PayPal account without paying any merchant fees. And you can make instant payments without having to wire funds (which could cost $20 or more.)
Have questions? We're here to help. As always, click "Support" in your Bill.com account to contact us.
*PayPal charges Bill.com $0.50 per transaction charge through their recently announced Business Payments pilot program. The $0.99 fee from Bill.com covers all transaction costs for you and your vendor!