The company allows customers in Canada and the United States to quickly set up and accept online payments and the collected money is received within one-to-two business days at competitive rates.
“Here at FreshBooks, we believe small business owners shouldn’t have to bang their heads against the wall to accept credit card payments,” said Mike McDerment, CEO and cofounder, FreshBooks, in a press release. “One of the biggest frustrations with online payments is that it requires too much time and work: from initial setup to tracking payments to updating reports. With FreshBooks, we are taking the headache out of the payment process to improve cash flow and save time by eliminating the need to manually track payments, deposit checks, and update account records.”
FreshBooks uses the WePay processor and users can securely view the payment status within their FreshBooks dashboard. In a FreshBooks account payment update, marking invoices paid and relevant expense information all is automatic. It also automatically records refunds and chargebacks.
During the beta program, FreshBooks customers were able to send and receive payments. Fifty two percent of invoices through FreshBooks were paid the same business day. More than 70 percent had been paid within the first 48 hours of sending the invoice.
FreshBooks’ customer service provides live support and quick response times to customers to track the status of their payments.
The company says its customers know exactly where their money is at any given time, without having to seeking help from multiple companies for payment-related matters.
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