Best Bill Payment Services for Businesses (2024)

Many small business bill pay service options are available, but finding the right one for your business and its needs is key. This article will explore some of the business bill pay platforms currently available and how they work to help you find the best bill payment systems for you.

We'll also explore Wise Business as a possible payment solution for your business, whether domestically or through their well-known, low-cost international transfers is a great option for your organization.

Looking for a low-cost way to make or receive payments?

Send money with Wise >>

Trustpilot: 4.3/5 average rating¹
Over 300k+ businesses customers use Wise globally

Table of Contents
What is a Bill Payment Service? How to compare bill payment services Wise Business QuickBooks PayPal Payoneer Revolut Plastiq Braintree Square Maxio

What is a Bill Payment Service?

Before delving into the various business bill pay service options available, it’s crucial to understand what a bill payment service is capable of.

A business bill paying service is a platform that allows businesses to pay bills in an organized, efficient, and secure manner. A bill pay system can be used for various business expenses such as utilities, rent, or credit card bills.

Additionally, online bill pay for business can be automated or manually controlled, allowing for easier financial management. Business bill payment services can offer many benefits as they centralize payments into one easy system.

A bill payment service can be beneficial when it comes to keeping track of various expenditures, managing cash flow, and ensuring that all bills are paid on time to avoid late fees or penalties. A bill pay platform can be a vital tool for effective financial management for businesses since it provides convenience, efficiency, and ease.

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How to compare bill payment services

When comparing bill payment services, there are several key factors to consider. The first is ease of use. The bill pay platform should have an intuitive interface allowing users to navigate the various functionalities and manage business bill pay quickly.

The ability to set up automatic payments and receive payment confirmations and alerts for upcoming due dates are also valuable features to look for. Businesses should also consider the types of bills that can be paid through the service and the breadth of bill pay options the platform offers.

Some business bill payment options may allow sending but not receiving payments, but others may allow both. Some platforms may cater to specific industries or payment types, so ensuring the service aligns with the business and its core needs is essential.

Another consideration when evaluating a bill paying service business is the security measures it utilizes. A strong small business bill pay service should prioritize data protection to secure all transactions and business information.

Lastly, it is also essential to consider pricing and fees associated with the bill pay system to ensure it’s the right decision from a financial standpoint for the business, especially from a cash flow and expenses perspective.

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Wise Business

Wise Business is an international money transfer service that makes domestic and cross-border transactions simpler, faster, and more affordable for businesses.

Wise Business offers a wide variety of advantages for companies operating in multiple countries with minimal fees involved. It provides transparent currency exchange fees and features for multi-currency transactions to help businesses send and receive payments globally.

Send Payments

Wise Business provides businesses with an easy-to-use bill pay platform. With the platform, businesses can send payments worldwide in multiple currencies. Using Wise Business, you can pay international suppliers, employees, and contractors easily with its straightforward and easy-to-use interface.

Wise Business also includes features such as batch payments, which allows you pay 1,000 invoices in one click.

So you can easily send multiple payments in one go. Wise Payment offers more robust features like a Wise API to automate payments. These features ultimately enable businesses to gain greater oversight of business transactions.

Receive Payments

The service also offers the ability to receive payments in local currencies and convert payments across different currencies.

With Wise Business, you can have local bank details for significant currencies like USD, EUR, GBP, AUD, and NZD, but more are available depending on needs. This makes receiving payments from customers or clients in multiple currencies as you can have the necessary local bank details.

Pricing for service

Wise Business has minimal fees for its services, and the exact amount charged will vary based

on the currencies involved and the amount being transferred. The fees are significantly lower than most traditional banks, and Wise Business also offers a mid-market exchange rate for conversions, meaning there are no hidden charges or markups.

See how much you can pay on your international transfers

Looking for a low-cost way to make or receive payments?

Send money with Wise >>

Trustpilot: 4.3/5 average rating¹
Over 300k+ businesses customers use Wise globally

QuickBooks

QuickBooks is a comprehensive financial solution for small businesses and includes a bill paying system. QuickBooks is an accounting software designed to manage and streamline financial operations for businesses, including bill payments. It offers many features, including invoice generation, tax calculations, payroll management, and a bill payment service. With QuickBooks, businesses can simplify their financial processes, manage bill payments, and achieve greater transaction efficiency and accuracy.

Send Payments

QuickBooks allows businesses to send payments directly through its platform. Its "Pay Bills" function lets users select which bills to pay and when providing full control over outgoing payments.² Additionally, it can manage recurring payments, making it ideal for subscriptions and ongoing service fees. These transactions can then be recorded and tracked within the software, providing an integrated and organized system for financial management.

Receive Payments

QuickBooks also includes the ability to receive payments directly from customers if necessary. By creating and sending invoices within the platform, customers can pay quickly using multiple methods, including credit cards and bank transfers. QuickBooks then automatically records these payments and links them to their corresponding invoices, simplifying the process of managing and reconciling incoming payments.

Pricing for service

QuickBooks has a tiered pricing model depending on the business size and needs. The tiered pricing ranges from a simple version for small businesses to advanced options for larger organizations. Each tier includes essential features like income and expense tracking, invoicing, and receipt capture. However, the bill pay system functionality may come at an additional charge or as an integration depending on the plan and business location.³

QuickBooks Integration with Wise
Features for bill payment, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation.

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PayPal

PayPal is a major online payment system offering a range of services for both individuals and businesses. PayPal facilitates domestic and international transactions and can support small business bill payment needs globally.

Send Payments

With PayPal, businesses can send payments quickly and securely to anyone with an email address or mobile number all in one place. PayPal also supports multiple currencies, so international payments are an option using the bill pay platform. Its "Mass Payments" feature can be particularly useful for businesses, allowing them to send payments to multiple recipients simultaneously, streamlining the process.⁴ 

Receive Payments

PayPal can also be used to receive payments. Businesses can also receive payments directly to their PayPal account. Payments can be received by sending a payment request or using specific PayPal functionalities. Customers and clients can pay quickly and securely.

Pricing for service

PayPal's fee structure is based on the transaction type and whether PayPal checkout is used.⁵ For online transactions within the US, there is a standard fee of 2.9% plus a small fixed fee based on the currency of the payment. For PayPal checkout, the platform charges 3.49% of the transaction price plus fees.

Wise vs. PayPal
Wise Business offers sending and receiving options that are great for international and domestic transfers. Wise Business is an alternative that has rivaled PayPal for years now with low and transparent fees and instant payments. See the Wise Business fees here and use the comparison tool below to see how much you could save.

See the Best Banks for Small Businesses >>

Payoneer

Payoneer is a global payment platform for businesses, online sellers, and freelancers looking to send and receive payment. Payoneer is an efficient, cost-effective, and secure bill pay system with various features available.

Send Payments

Payoneer enables businesses to send payments to their international partners, vendors, and service providers through its bill payment services. Payment options are available for Payoneer and non-Payoneer customers, and different methods are available depending on needs. Additionally, Payoneer's platform allows for batch payments, making it simpler to pay multiple recipients simultaneously.⁶ 

Receive Payments

Businesses can also receive payments through Payoneer from domestic and international clients. You can receive payments in multiple currencies, making it simpler to do business with clients worldwide. Payoneer also offers receiving accounts via its Global Payment Service, which lets you receive local bank transfers from companies in several countries.⁷

Wise vs. Payoneer
Wise Business offers sending and receiving options that are great for cross-currency transfers. After a one-time payment, you get 9 global currency account details (USD, GBP, EUR, and more. Plus, Wise Business offers the mid-market rate on currency transfers. This makes it not only a great alternative to Payoneer but also a great account to receive from if you use Payoneer.

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Pricing for service

Payoneer's pricing structure varies depending on the transaction. Receiving payments from another Payoneer customer is free. For payments received through the Global Payment Service, the fee is typically 3% depending on the currency.⁸ Fees for withdrawing funds to a bank account depend on the currency and method of withdrawal. There is also a small annual maintenance fee for keeping the account open.

Revolut

Revolut is a digital banking platform with a commitment to simplicity and transparency. Revolut offers a wide range of services, including business bill pay options, currency exchange, prepaid debit cards, multiple payment methods, and more for businesses.

Send Payments

Revolut allows businesses to send domestic and international bill payments in different currencies. Payments can be made directly from the Revolut app, simplifying the process, and businesses can typically make faster transactions. The platform also offers batch payments, enabling businesses to pay multiple recipients simultaneously, which is beneficial for payroll and supplier payments.⁹

Receive Payments

Revolut offers local banking details in multiple currencies provided through the platform, so businesses can receive payments from anywhere in the world, and there are a range of features designed to help businesses manage incoming and outgoing payments.

Pricing for service

Revolut operates on a tiered pricing mode for businesses, offering a range of packages to cater to different business needs.¹⁰ These packages vary in price and the number of free transactions they offer before charges apply. In addition, foreign exchange transactions are subject to nominal fees that may apply depending on the transaction.

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Plastiq

Plastiq(see Plastiq alternatives) is a unique bill payment service that allows businesses and individuals to pay virtually any expense by credit card, even when card may not be accepted. This service allows users to manage cash flow and earn credit card rewards by simplifying payment methods.¹¹

Send Payments

With Plastiq business bill payment services, businesses can send payments for various bills, including rent, utilities, and suppliers, using a credit or debit card. Plastiq facilitates the transaction, paying the recipient through a method they accept, including bank transfer, check, or wire.

Receive Payments

While Plastiq's core service revolves around enabling card payments to various recipients, it does not primarily function as a platform for businesses to receive payments. However, if your business receives a payment through Plastiq, you'll receive the payment directly to your bank account or by check, depending on your preference.

Pricing for service

Plastiq has a tiered pricing model for businesses, with various features available depending on the size and need of the business.¹²

Braintree

Braintree is a comprehensive payment platform that is part of the PayPal network.¹³ It allows businesses to accept and process payments in many ways, including credit cards, debit cards, and PayPal, across different platforms, such as online and mobile.

Send Payments

Although Braintree is primarily focused on enabling businesses to receive payments, it offers the ability to pay service providers. Businesses can send payments to service providers or sellers through Braintree Marketplace on their platform.

Receive Payments

Braintree is primarily designed to receive payments, which differs from a bill paying service business. With Braintree, payments can be received from credit and debit cards to digital wallets like Apple Pay, Google Pay, and PayPal; Braintree accommodates a broad range of payment types.

Pricing for service

Braintree employs a straightforward pricing model. Braintree charges a standard fee of 2.59% + $0.49 per transaction for the basic service of processing card payments.¹⁸ There are no minimum monthly fees and no costs for setup or termination. However, additional features, like Braintree Direct, Marketplace, or premium fraud management tools, may come with additional charges.

Square

Square is a well-known financial services and mobile payment company that provides a broad suite of business tools, including bill payment systems. Known for its signature small, square credit card reader, Square offers a range of solutions, including point-of-sale (POS) systems, payroll services, business bill payment, and online payment processing.

Send Payments

While Square focuses primarily on facilitating the receipt of payments for businesses, it offers Square Payroll, a service that allows businesses to pay their employees and contractors easily.¹⁴ This service enables businesses to send payments directly to their employees' bank accounts, handle tax filings, and manage benefits.

Receive Payments

Square provides a versatile platform for businesses to receive payments in various ways, including in-person using their POS system and card readers, online through their integrated online payment system, or digitally via invoices. It supports all major credit and debit cards and mobile payment solutions like Apple Pay and Google Pay.

Pricing for service

The Square reader or POS system has a tiered pricing model for card-present transactions, including transaction fees.¹⁵ Other services, like invoicing or using Square for retail or restaurants, have their pricing structures.

Wise Business customers can start an account for free with a one-time fee to get local account details.

Square customers can either connect their POS account directly to Wise or transfer funds from their Square Checking account into their Wise Business account.

Wise vs. Square

Square's POS is great for small business owners because you can send and spend easily and access a card. Wise Business could be a great option if you're doing any business overseas. Square charges 1.5% on instant payments, while Wise prides itself on low-cost, instant payments. Another thing to consider is that Square accounts only allow you send transfers to other US-based accounts. This is where Wise can work with you, giving you multiple account details or serving as your business account to help you receive your payments in USD, EUR, GBP and more at no cost after a paying a fee

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Maxio

Maxio, previously known as Chargify, operates in the recurring billing and subscription management space.¹⁶ It allows businesses to easily automate and manage their recurring online bill pay for business in one central platform.

Send Payments

Maxio primarily focuses on managing and automating recurring billing for subscription-based businesses. While it does not directly facilitate sending one-time payments, it does provide businesses the tools to manage their outgoing payments related to refunds, discounts, or credits to customers' accounts.

Receive Payments

Maxio excels in facilitating payments received. Its platform offers businesses robust tools to manage subscription billing, automate invoices, and collect payments. It supports multiple payment gateways and methods, giving customers flexibility in paying. Chargify handles all aspects of the subscription lifecycle, from sign-ups to renewals for subscription-based businesses.

Pricing for service

Maxio offers various pricing tiers depending on the specific needs and size of the business. The basic plan starts at a particular rate, with higher tiers offering more features and tailored business solutions.

Wise Business: Make instant payments easily and at low-cost

Looking for a simple, low-cost way to make payments or get paid? Wise Business helps over 300k businesses save while conducting overseas transactions. This smart digital alternative to traditional banking offers digital payments that are both convenient, transparent, and instant.

Built specifically with small businesses in mind, Wise Business offers a ton of perks that make it super attractive for companies like yours.

Wise Business has no hidden fees or exchange rate markups. Plus, their international account is a game-changer for businesses dealing with multiple currencies. Whether you're paying freelancers abroad or accepting ecommerce payments from customers, Wise Business has got your back.

Some key features of Wise Business include:
Better visibility and organization of business finances. This is helpful for account reconciliations and audits.
Administration controls for users. It’s possible to allow team members to carry out specific tasks.
Receive payments from ecommerce platforms (such as Amazon or Stripe)
Create invoices using the Wise invoice generator or invoice templates.
Features for bill payment, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation.
Batch payment options. This allows the fast payment of up to 1,000 people, by uploading a spreadsheet.

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Learn More:

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Top Stampli Competitors and Alternatives (2023)

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks.

Source:

1.https://www.trustpilot.com/review/wise.com
2.https://quickbooks.intuit.com/app/apps/appdetails/billpayqbo/
3. https://quickbooks.intuit.com/app/apps/appdetails/billpayqbo/
4. https://www.paypal.com/us/cshelp/article/how-do-i-send-a-payouts-mass-payment-help252
5. https://www.paypal.com/us/webapps/mpp/merchant-fees
6. https://blog.payoneer.com/outsourcing/how-to-create-and-send-a-batch-payment/
7. https://www.payoneer.com/gb/
8. https://www.payoneer.com/about/fees/
9. https://help.revolut.com/business/help/receiving-payments/sending-money-to-an-external-bank-account/what-are-bulk-payments/
10. https://www.revolut.com/business/business-account-plans/
11. https://www.plastiq.com/
12. https://www.plastiq.com/pricing/
13. https://www.braintreepayments.com/faq?locale=us
14. https://squareup.com/us/en/payroll
15. https://squareup.com/us/en/pricing
16. https://www.maxio.com/product-overview
17. https://www.maxio.com/pricing
18. https://www.braintreepayments.com/braintree-pricing