A Banking Guide to the Untapped Opportunity of Mobile Business Payments.
There is a widening disconnect between how business is being done and how small and medium businesses (SMBs) use online banking. Closing this gap is a huge opportunity for engagement, adoption, and increased usage when it comes to the very core business functionality of payments.
Check out our latest industry insights feature and dig into the potential for banks and the needs of SMBs:
- 45% of SMBs use mobile banking—but only for basic functions like checking balances.
- 50% of bills are paid by check
- 53% of mobile banking users are millennial-owned businesses – these digital-first users will be looking for apps to eliminate checks and make payments easier.
Bill.com® Connect is a powerful, business payments platform that places your bank at the center of your small and medium business customers’ payables and receivables processes. Visit bill.com/banks to learn more.