Feb 12, 2024
read
Accelo is thrilled to announce the official launch of Accelo Payments, an automated payment service built to deliver an effortless digital payment experience for you and your clients. After a successful beta phase, we are excited to bring this new service to Accelo users and their clients, streamlining the payment process and ensuring you get paid faster and more efficiently.
Read on to learn more about the reasons for this new service, the key features you can expect and how you can sign up to get started today!
The Challenge of Getting Paid On Time
Throughout Accelo's history, one common thread we've observed has been the challenge of getting paid. Whether it's because of the time it takes to follow up with clients and record payments or the fees associated with them, getting paid is a challenge that all businesses face — ours included.
To better understand the impact of these problems, we engaged with our users to understand their specific challenges. The feedback was clear — it takes too long and costs too much to get paid for the work you and your team deliver.
Our findings revealed that organizations were spending over 15 minutes to record a single payment, and they were often received 15 days late. Credit card fees, averaging around 3% of revenue, and the extended time taken by accounting teams to reconcile further compounded the problem.
The Solution: Accelo Payments
To address these challenges, Accelo Payments offers a new kind of payment service. With tools focused on automation and self-service, you can regain the time you've lost to your current payment process and minimize the fees you have to pay.
Accelo Payments supports all major credit cards and allows you to prioritize lower-fee Automated Clearing House (ACH) payments, ensuring that you can get paid in whatever way works best for your business.
Key Features of Accelo Payments
Automatic Payment Processing: Seamlessly process payments for invoices on their due date, based on secure, client-entered payment information.
Payment Rules: Enjoy flexibility and customization by exercising control over payment settings to determine which invoices are paid automatically.
Automatic Payment Status: Facilitate efficient work delivery and client communication with a straightforward summary of an invoice's payment status that’s accessible to all relevant users.
Payments Dashboard: Easily reconcile received payments, process refunds and address disputes through a new user-friendly dashboard.
Supported Payment Methods: Accelo Payments supports all major credit cards and ACH payments, allowing you to choose the method that best suits your business needs.
Credit Card Processing Fee: Pass expensive credit card fees on to your customers with Accelo Payments. When clients pay with a credit card, businesses often absorb the associated fees. Accelo Payments allows you to add a service charge to credit card payments that accounts for the processing fee, eliminating excess costs and encouraging customers to use less expensive payment methods like ACH.
How To Use Accelo Payments
To deliver Accelo Payments, we've partnered with Payrix, recently acquired by Worldpay. This collaboration ensures that your payments are processed quickly, accurately and securely.
To sign up for Accelo Payments, you will need to submit an application. This application will assist Payrix in verifying that your business is a legal US entity and is eligible to process digital payments. The application can be submitted via your Accelo account at Settings → Invoices and Pricing → Payments.
Accelo Payments requires an Accelo account and is available in all account tiers. The service is currently only available to organizations that are based in the US and accept digital payments exclusively in USD, but we are currently working on expanding the service to support Canada.
For any questions about Accelo Payments, please contact your Customer Success Manager or the Support team at [email protected].