The opportunity

BILL’s customers are the small and midsize businesses that power the U.S. economy – what BILL refers to as the “Fortune 5 Million” – with multiple employees but limited financial staff, often operating with one person managing controller, treasurer and accounting responsibilities.⁶ These businesses face constant pressure to keep operations running smoothly while managing tight cash flows and unexpected expenses that can arise at any moment.

When a business exceeds its available credit on the BILL Divvy Card — whether due to an unexpected equipment purchase, a weekend client dinner or a spike in employee expenses — the clock starts ticking. Freeing up credit required customers to send a wire or ACH payment and then wait a few days for the funds to clear and post to their account.⁶ During that waiting period, however, employees couldn’t make necessary purchases.
 
Large enterprises face this too, but deep treasury teams and multi-level banking help them manage it. Small and midsize businesses don’t always have these resources — so they rely on BILL, which integrates with J.P. Morgan to deliver API-driven, enterprise-grade solutions to the “Fortune 5M,” keeping operations moving and cutting downtime.⁶

Behind the scenes, BILL faced operational complexity common to growing platforms. Thousands of customer payments flowed daily into a single demand deposit account, and BILL’s Treasury team had to match each payment to the correct customer.⁷ The manual reconciliation process added tedious, time-consuming tasks to the team’s workload and diverted attention from strategic priorities.⁷

BILL recognized that its growing customer base needed the same real-time payment capabilities as large enterprises. The company sought enterprise-grade financial infrastructure with the flexibility and scalability to serve hundreds of thousands of small and midsize businesses.⁷ The solution needed to automate payment reconciliation, provide instant confirmation and work seamlessly across multiple payment rails — all while delivering the simple, intuitive experience that BILL’s customers expect.⁸

The solution

BILL implemented J.P. Morgan Wallet, an API-based sub-ledgering solution designed to manage millions of payments in real time, on any platform, all with one bank account.⁹ The company first deployed J.P. Morgan Wallet for the Direct platform before expanding to the BILL Divvy Card program.⁹ The phased approach allowed the BILL and J.P. Morgan Payments teams to gather customer feedback and refine the solution.

Instead of funneling thousands of payments into a single account, J.P. Morgan Wallet assigns each BILL customer a unique virtual account number.⁹ When customers send payments through wire, ACH or real-time payment rails, the system automatically routes funds to the correct account and updates balances instantly.⁹

When a payment arrives, J.P. Morgan Wallet APIs immediately notify BILL’s systems, activating an automated workflow that applies the payment.⁹ This solution frees up the customer’s credit line, often within minutes.⁹ Push notifications simultaneously alert customers that their payment has been received and processed, reducing uncertainty about payment status.¹⁰

“By having a strong capability like J.P. Morgan Wallet behind us — both technically and operationally — we gain features that might be easy to overlook,” said Mary Kay Bowman, Executive Vice President of Payments and Financial Services at BILL. "Those features let us do what we do best — serve our customers — without back-office delays slowing us down."

The results

After implementing J.P. Morgan Wallet, BILL saw payment posting times drop from two to three days to minutes or even seconds.¹¹ Customers can now access credit when they need it most, including nights and weekends, allowing them to cover unexpected expenses without disrupting business operations.¹² New customer onboarding accelerated from two to three days to same day, and the time from purchase need to actual spend compressed to seconds.¹²

The solution also improved BILL’s internal operations. Virtual accounts automatically route each payment to the correct customer, eliminating reconciliation headaches for BILL’s Treasury team and saving approximately 20 hours per week on manual processes.¹³ Both BILL and its customers gained complete visibility into all money movements. Automation delivered real-time payment clarity for customers, resulting in an 83% decline in support inquiries.¹³ The streamlined infrastructure also helped BILL to scale its operations, increasing payment processing capacity by 95% without adding employees.¹³

Perhaps most importantly, BILL achieved its goal of making enterprise-grade financial capabilities accessible to its customers.¹⁴ Small businesses that previously waited days for credit access now enjoy the same real-time payment processing that’s standard for larger enterprises. The solution works seamlessly across all payment rails — wire, ACH and real-time payments — giving customers flexibility in how they manage their cash flows.¹⁴

“The ability for us to gain access to the ledgering capability, visibility and reconciled event structure of J.P. Morgan Wallet was incredibly important to us,” said Bowman. “These are the types of solutions that, typically, small and midsize businesses don’t have access to, except through BILL. We’re leveling the playing field with these solutions.”

Looking ahead, BILL plans to use the rich data flowing through J.P. Morgan Wallet to provide even more value to customers.¹⁴ “We anticipate using more intelligence to predict our needs before someone is in a position where they need to do something on the fly,” said Bowman. “We can use our data and the J.P. Morgan Payments data, enhanced with AI, to provide more relevant insights to our customers that help manage and smooth their cash flow.”

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