ClearBooks joins new Revolut-built embedded finance marketplace

ClearBooks joins new Revolut-built embedded finance marketplace

News
June 2, 2021 by J.D. Smith
13
Accounting software provider ClearBooks is to be the first third party application to join a new business marketplace built by Revolut to house apps embedded with its own financial services capabilities. Under the partnership, Clear Books has been able to embed payments creation functionality directly into its accounting and payroll software without having to be
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Accounting software provider ClearBooks is to be the first third party application to join a new business marketplace built by Revolut to house apps embedded with its own financial services capabilities.

Under the partnership, Clear Books has been able to embed payments creation functionality directly into its accounting and payroll software without having to be a registered payment initiator.

The new functionality allows customers to manage bills and their employees’ payroll directly from Clear Books where they have linked their Revolut Business account.

Business owners or account admins can choose up to 20 bills to be paid at once within Clear Books. Once submitted, Clear Books sends the bills as ‘draft payments’ directly to the Revolut Business account. Upon approval, Clear Books is automatically updated with the payment status, giving users up-to-date insights of their business finances from the accounting package.

To kick off the partnership, Clear Books is offering any Revolut Business customers who are new to Clear Books 50% off its accounting software for six months when they sign up and connect their Revolut Business account. The firm is also offering a 30-day free trial to try out the new draft payment integration.

James Gibson, head of product at Revolut Business says: “We’re focused on building innovative products that help businesses save precious time and money. Our partnership with Clear Books does just this – allowing customers to set up draft payments directly from Clear Books in a couple of taps. Going forward we see a huge opportunity for the automation of basic tasks by using the power of APIs.”