Credit Card Processing
Credit card processing using payment software allows quick payments to recipients, simplifies financial tasks, and enhances efficiency without costing the payees. Payers can use their credit cards to send money, earning rewards per transaction, while recipients receive funds through methods like ACH, wire transfers, or checks, even if they don’t accept credit cards directly.
Zil Money is a financial technology company, not a bank or an FDIC member. Zil Money offers banking services through partnership with FDIC member banks Silicon Valley Bank, Texas National Bank, and East-West Bank.
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Using Credit Cards to Save Money on Business Expenses
Cash Back Rewards
- Earn Cash Back: Credit cards like the Capital One Spark Card offer 2% unlimited cash back, while the American Express Plum Card offers 1.5% unlimited cash back.
- Offset Fees: Using a credit card with cash back can partially offset the 2.95% process fee, reducing the effective cost.
Tax Benefits
- Tax-Deductible Fees: The 2.95% process fee can be filed as a tax-deductible business expense, offering some financial relief.
- Additional Tax Breaks: Depending on the jurisdiction and tax codes, you may be eligible for additional tax breaks for using credit cards for business expenses.
Cash Flow Management
- Cash Float Period: Credit cards often provide a 30 to 45-day payment window, allowing businesses to manage their cash flow better.
- Utilize Funds: During this period, the funds can be invested in short-term opportunities or other revenue-generating activities.
Detailed Example: Capital One Spark Card
- Process Fee: 2.95%
- Cash Back: 2%
- Tax Break: 0.06%
- Final Fee: 0.35%
- Additional Benefit: 30-45 days of cash flow management and float revenue.
Floating Revenue from Bank
- Float Revenue - Cash incentive Earnings: The funds in your bank account for 30 to 45 days could earn Cash incentive or be invested in short-term revenue-generating activities.
- Capital Utilization: The cash float period allows you to strategically utilize your capital for other pressing needs or investment opportunities.
Additional Resources
By combining these strategies, the actual cost of using a credit card to handle business expenses can be significantly reduced, while also providing the flexibility to manage cash flow more effectively.
Pay or Get Paid the Way You Want It
Your vendor or payee might have said no to credit card payments due to fees, or you might have had to add extra charges. But now, with Zil Money, you can pay bills using credit cards without worrying about fees for the payee. Plus, you earn credit card reward points.
Features at Your Fingertips
From accounts payable and receivable functionalities to comprehensive online banking and beneficial integrations, Zil Money can meet the payment management requirements of all types of businesses.
Check Printing
Drag and drop to instantly create checks & print using any printer.
Pay By Credit Card
Use credit cards even when your vendors don't accept them.
ACH Payment
Make one-time or recurring ACH/RTP payments in one click.
Wire Transfers
Send money electronically from one financial institution to another.
Bill Pay
Pay & schedule bills online, managing supplier payments & reducing risk.
Digital Checks
Digitize your paper checks and make your payments via email or text.
Software Integrations
Integrate Zil Money with your accounting and payroll software.
Cloud Bank
Open an online banking account with Zil.us. Streamline payment management & save.
Payment Link
Create and send a secure URL for customers to make online payments easily.
All-In-One-Platform
Zil Money is a versatile payment platform that supports various methods like credit cards, printable checks, eChecks, ACH, and wire transfers. It offers customized expense reports, improves cash flow visibility, and consolidates invoice and bill tracking in one place. The platform connects with over 22,000 banks and allows you to link multiple bank accounts, streamlining your accounts payable and receivable management. You can choose from payment methods such as ACH, wire, and transaction checks.
Integration with Banks and Accounting Software
Zil Money connects with over 22,000 banks and financial institutions in the US and Canada and integrates smoothly with accounting software. This integration allows businesses to import bills and invoices easily. You can use the software to send or print checks electronically, making receiving payments directly on your phone simpler.
FREQUENTLY ASKED QUESTIONS
What is credit card processing?
What to do if my vendor refuses to accept credit cards?
Can I pay by credit card even if my vendors don't accept that?
Pay by Credit Card vs. No Pay by Credit Card
PRECIOUS REVIEWS FROM
OUR CUSTOMERS
Vendor Management: Easily handle bill payments, instant check printing and mailing, invoicing, positive pay, and access User/API features across various platforms.
I had to be very cautious in a disputing situation when the check hasn’t arrived and goes to the bank, digging through all my paperwork.
Frank Czar
Zil Money has made my life easy. Now I can print all the checks on Blank Check Paper and export from my QuickBooks as well.
Bimal Daftari
I always have to give checks ahead in many situations. Now it’s so easy to keep up. Same way making deposit slips on demand also very easy.
Travis Copeland
I was confused of managing multiple companies as an accountant. I found Zil money then and now everything is just easy.
William Andrews
Total Money Moved
9,520,030,217 +
Total People Paid
1,020,421 +
Total Businesses Satisfied