Revolut adds Clear Books to its roster as it continues to expand business banking

The new launch allows customers to track payments and payroll directly from Clear Books when they have linked their Revolut account.

Another day, another launch for Revolut.

Digital banking service Revolut has teamed up with accounting software Clear Books, enabling business customers to quickly and easily manage their bills and payroll directly from their Clear Books account. 

The new partnership will see Clear Books become the first third-party to embed its payments creation service into Revolut’s shiny new Business Marketplace, reducing the time SMEs spend sorting out their finances. 

“We’re focused on building innovative products that help businesses save precious time and money,” James Gibson, head of product at Revolut Business said.

“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.”

According to data from Revolut, 25 per cent of all B2B payments are now initiated with an API, up from just five per cent two years ago, with the new collaboration only bolstering this further. 

Thanks to Revolut’s dedicated API, Clear Books’ customers will be able to manage bills and payroll directly from their Revolut account linked to the Clear Books platform.

“Small businesses can face an overwhelming amount of business admin. By allowing users to create draft payments directly from Clear Books, we’re removing the admin burden of rekeying all that information into Revolut to make the payments,” Ruth Fouracre, CEO of Clear Books added.

“Together, we’re making bill and payroll payments quicker and easier for small businesses so they can get back to doing the things they enjoy most.”

By using Revolut’s dedicated API, Clear Books is giving its customers an added layer of security and safety, with payment data syncing directly between the two fintechs and only allowing authorised users to make payments. 

Clear Books first teamed up with Revolut just over a year ago when the SME accounting firm first joined its marketplace. 

Revolut’s SME customers were able to sign up to use Clear Books’ services with just one click in the app and this latest integration takes the partnership one step further. 

The fintech has been adding new features to its ‘super app’ as of late for its 500,000 business customers. 

Just over a week ago the digital banking service also debuted its new invoicing tool to help SMEs stay on top of their finances and send invoices directly from the Revolut app. 

Earlier this year, Revolut added QR code payments for its business customers, allowing users in 25 countries to use the socially distanced payment method.