Fintech company Zeller has introduced mobile invoicing capabilities within its B2B financial services app, aiming to address the persistent problem of late invoice payments in Australia.
The new feature allows small business owners to create, send, and manage invoices directly from their smartphones, integrating with other financial tools in the app.
The launch comes in response to longstanding issues surrounding cash flow in Australia’s small and medium-sized enterprises (SMEs), which are collectively owed an estimated $115 billion in outstanding invoices each year.
According to industry data, payments to small businesses are often delayed by an average of 27 days beyond the due date.
Zeller’s new invoicing tool is designed to streamline the billing process and improve payment turnaround. Internal data from the company indicates that 75 per cent of invoices sent via the Zeller App are paid on the same day, and online payments made through the platform are processed seven times faster than those paid via traditional bank transfers or cash.
The feature includes a range of functions tailored for small business owners, such as real-time payment tracking, customisable invoice templates, and automated reminders for overdue payments. Users can also manage their customer directory, schedule reminders, and receive instant notifications when payments are made. The app supports secure online payments and nightly fund settlements, seven days a week.
Zeller states that its invoicing service does not require a monthly subscription fee and offers transaction costs that are approximately 30% lower than those of competing providers. The app, which consolidates financial services such as transaction accounts, card management, fund transfers, and payment processing, is marketed as a comprehensive tool for business finance management.
“Getting paid fast is one of the most important elements of maintaining a healthy business cash flow,” said Ben Pfisterer, Zeller CEO and co-founder.
“As we continue adding more products to the Zeller financial services ecosystem, we’re making it simpler for Australian business owners to accept payments in more places, access their funds faster, and get a holistic view of their overall business financial health that no other bank or provider can offer them.”