July 10, 2007
Small Business Online Banking Reaches Tipping Point; Usage Fulfills Survey Findings
“CashEdge Inc., the pre-eminent provider of online fund transfers and the pioneer behind opening and funding accounts online, today announced strong small business usage data, echoing the findings of several recent small business surveys. CashEdge usage data for online payment, invoicing and collections during 2006 and through the first quarter of 2007, reflects the growth in adoption that was predicted by BAI’s Small Business Payment Strategies research study in 2006, Aite Group’s April 2006 survey of small businesses, and CashEdge’s 2006 Small Business Survey. In June 2006, Bank of America became the first U.S. bank to offer electronic invoicing presentment and payment (EIPP) to small-business customers (through its Online Business Suite) and reports that the service has been extremely successful.”