PayPal, now an independent payments company, has announced new features for its 11-year old invoicing tool. The company said it rolling out six new invoicing features "to help businesses bill more efficiently and get paid faster."
PayPal's new invoicing service gets three new invoice template options for flexibility. The service can now account for quantity for breaking out the item sold, for billing by an hourly rate, or amount only (when quatity or hours do not apply).
Businesses can now allow partial payments and a minimum payment amount so their customers can pay a deposit upfront and pay the remainder later. Once paid, the invoice will have a partially paid status until it has been paid in full. And, the amount paid and due will appear on the invoice for both the business and its customer.
The tool will allow businesses to create and manage all of their invoices with PayPal, even if customer pay them by cash or check. They can also CC multiple parties when sending an invoice.
"Most often you’ll enter your customer’s email on the invoice, and we’ll email the invoice to your customer. If, however, you want to send the invoice to your customer yourself you can copy a link to your customer’s invoice."
Users will also be able to download a PDF of their invoice.
PayPal is launching the new invoicing product in the US first and then rolling it out to global markets in the coming months.
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Updated Date: Jul 23, 2015 15:23:46 IST