We're celebrating hitting £100 million in payments processed through ApprovalMax within a week of launching bill pay in the U.S.A!
That's a big number for a company that started out as approval software.
We started small. The first version of ApprovalMax Pay opened up Open Banking payments to our UK-based Xero customers. This was a huge step forward which meant our customers could pay an approved bill directly from ApprovalMax for the first time, straight from their business bank account.
We didn't stop there - in February, we rolled out Wallets in the UK.
Wallets allow our customers to take advantage of cheaper rates when paying global suppliers by opening access to local rails in over 30 currencies. It also brings an additional layer of control to how teams access company funds - pre-funded Wallets mean teams can be allocated the cash they need to pay their bills.
It’s been great to see how teams have taken to adopting ApprovalMax Pay since.
The milestone lands just as we launch ApprovalMax Pay to QuickBooks Online customers in the US.
From approvals to payments
Approvals were always the starting point. Get the right person to sign off a bill before it goes anywhere near the bank.
But an approved bill still has to be paid. For many teams, that meant leaving ApprovalMax and logging into a bank portal or writing a cheque. Rekeying payment details and hoping nothing had changed in between.
Few teams want a bigger tech stack to fix that. They'd rather have fewer places to look.
So bill pay was the natural next step. Bills can now be captured, checked, approved and paid in one place. Whoever releases the money works from the approved bill. Each payment links back to it, and to the purchase order where there is one. Once it completes, the payment syncs back to your accounting system.
Key Takeaways
ApprovalMax Pay is now available to customers on Xero (UK) and QuickBooks Online (U.S.A). The technology rolls out to support customers in more countries in 2027, including Canada.
ApprovalMax Pay currently supports free Open Banking payments in the UK.
Wallets allow ApprovalMax users to pre-allocate bill pay funds in ApprovalMax. Enabling ApprovalMax users to access the SWIFT network, as well as local payment rails in over 30 currencies. Available now in the UK and U.S.A
Beyond the bank portal
ApprovalMax pay provides a modern alternative to traditional banking portals.
Which usually require a payment file, manual rekeying and several people holding access to your company's bank account . It works, in the sense that suppliers get paid. But working isn't the same as meeting the standard finance teams expect today.
Teams want flexibility over how each bill gets paid. They want control over who can move cash, and how much of it they can reach. That gap is probably what got Pay to £100 million.
Next stop: bill pay for QuickBooks Online in the US
Since October 26th, US-based QuickBooks Online customers can use Pay too.
For US finance teams, that's a bigger change than it might sound. Plenty of US businesses still run bill pay through online banking and paper checks. And changing how you pay suppliers feels riskier than changing most software. So the upside has to be clear.
The upside is the same one UK teams already have. A bill gets approved and paid by ACH in one place, with nobody rekeying it. One record shows who approved it and who paid it. Fewer people need access to the bank account. And with Wallets, only the cash set aside for bills is within reach. Instant payments are on the way too.
The downside is small. Pay is included in every ApprovalMax plan, with no extra subscription. Fees are transparent per transaction and visible before you process anything. Nobody has to give up checks overnight, either. Teams can start with a few bills and utilise ApprovalMax Pay alongside existing processes. There's no lock in.
Where ApprovalMax Pay goes next
It's a milestone worth marking, and a good moment to look ahead. The US is the next market for Pay, and it won't be the last.
Already using ApprovalMax with QuickBooks Online in the US? You can set up Pay from your account today. New to ApprovalMax? Start a free 14-day trial to see the upside of running bill pay in one place.
Written by
Kasia Bargielowski-Foster
Head of Product Marketing
Kasia is Head of Product Marketing at ApprovalMax, specialising in translating complex product capabilities into clear customer value.
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