Lacerte: Bill.com is embedding its product directly inside Intuit's QuickBooks Online
René Lacerte · 668: Will Bill.com and Intuit Lead Small Business FinTech Space? · May 24, 2017 · at 17:13
René Lacerte, founder and CEO of Bill.com, describes the company's distribution partnerships in an interview with Nathan Latka.
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“Also in addition to banks, we have a great partnership with Intuit where we are just in the process of becoming embedded inside of QuickBooks Online.”
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More from René Lacerte
Lacerte: Bill.com processes $40B annually with a $1,700 average transaction size
“We do close to forty billion dollars a year in money movement, and the average transaction is 1700 to 2000 dollars”
Bill.com reduces customer paper payments from 95% to 35% in one year
“When a customer comes to us, 95% of their payments are paper-based. And we're able to move that to, you know, probably 35 to 40% over the course of the first six to 12 months.”
Lacerte: Bill.com charges $0.49 per electronic payment
“We charge 49 cents for an electronic payment period.”
Lacerte: Bill.com has over two million entities using its payments network
“And we have over two million entities that are in our network now that use us to pay and get paid.”