|BillFloat pays a consumer's bill when|
|they need it, and they repay later.|
Based in San Francisco, BillFloat has provided consumers with a reliable and affordable option for paying their bills when unplanned circumstances arise. BillFloat pays a consumer's bill when they need it, and they repay later. BillFloat represents the efforts of several highly experienced financial service professionals and has received backing from some of the most prominent venture capitalist firms in the San Francisco Bay Area, including First Round Capital, SoftTech VC, Vaseline Ventures, Venrock, and SV Angel. Since its inception in 2009, BillFloat has teamed with more than 2,500 service providers throughout the nation to help their customers and ensure that they receive timely payments. At present, BillFloat works with retailers, e-commerce sites, wireless companies, utility companies, communications, and entertainment providers, as well as insurance companies and homeowner associations. With the BillFloat service, consumers can get up to an extra 30 days to pay a bill and avoid service provider late fees, bank overdraft charges, and other penalties, including service termination.
To apply for the BillFloat service, consumers need an active bank account. Individuals enter information about the bill online, including payment amount and date. When approved, BillFloat renders payment according to the needs of each consumer and automatically draws repayment from the consumer’s bank account approximately 30 days after the transaction. The cost of the BillFloat service varies according to state, but usually includes a small interest charge and a one-time bill payment fee for processing the payment. This one-time fee depends on the amount of the bill payment and the desired transaction speed.
Understanding the importance of data security, BillFloat utilizes third-party companies to certify and monitor its high security standards. These companies include McAfee, TRUSTe, and VeriSign, which recognizes BillFloat’s use of 128-bit Secure Socket Layer (SSL) encryption for all personal and financial information.