Biller Genie CEO Targets Blockchain Innovation in Invoicing Solutions

Biller Genie CEO Thomas Aronica considers cryptocurrency an unavoidable advancement in financial systems that his company will eventually need to accommodate.

Although the B2B SaaS platform hasn’t yet integrated crypto, Aronica shared in a recent Q&A that stablecoins like USDC might soon facilitate real-time settlements for payroll, commissions, and supplier payments. He envisions blockchain ultimately transforming invoicing by replacing traditional email exchanges with distributed ledgers that provide instant visibility to all parties—a shift he anticipates will occur as adoption and regulation align with the technology’s capabilities.

The following interview has been edited for clarity.

What impact has cryptocurrency had on Biller Genie?

Aronica: We’ve explored possible integrations, and there’s definitely a future for it. We’ll likely support real-time crypto payments settled in fiat. Starting with USDC, which is gaining traction, opens doors for not just buyer-supplier transactions, but also for commissions and payroll processed via crypto.

Beyond payments, I believe blockchain holds vast potential. If we differentiate crypto as a payment method from blockchain as a technology, we can envision a scenario where all invoices reside on a blockchain. Instead of constantly emailing PDFs and dealing with version control, all parties would share a single distributed ledger with real-time visibility. I truly believe that future is attainable.

It seems that cryptocurrency is significantly influencing federal policy despite its limited utility. When was the last time someone ordered a pizza with crypto?

Aronica: Necessity fuels innovation. In regions like Asia-Pacific or the EU, contactless payment at restaurants—where machines are brought to tables—has existed for 15 years. We only saw it here during COVID due to hygiene concerns. Similarly, Apple Pay wasn’t ubiquitous in the U.S. just three or four years ago because it wasn’t widely used by consumers, and merchants were hesitant to invest in upgrades.

Doesn’t volatility impede utility?

Aronica: There’s a classic chicken-and-egg dilemma. Business owners and software providers, including us, haven’t fully invested in the infrastructure for crypto payments due to cautious adoption. However, when I inquire whether they’d use it, the answer is mostly affirmative.

Volatility can certainly be managed. Stablecoins alleviate that concern, and even with more volatile cryptocurrencies like Bitcoin (BTC) or XRP (XRP), there are methods to create offboarding ramps that can settle transactions in cash instantly, removing risk for businesses receiving payments.

For me, it’s less about the technology and more about addressing the 25 other priorities people are asking us to tackle. There’s undoubtedly a role for crypto, and increased legislation and regulatory focus signifies growing adoption. We’re still in the early stages of how this will function as a payment method, but solutions to manage volatility already exist—there’s an entire ecosystem emerging for exchanging and repatriating these assets.

Are Biller Genie’s customers asking for crypto?

Aronica: We do hear inquiries from both distribution partners and users, but it’s mostly opportunistic. We’re not actively surveying for it, and at this moment, it’s not a critical focus. We have a multitude of opportunities to prioritize, with crypto being just one. When I entered this space, the challenge was to persuade restaurants to transition from cash to card payments. For the past 15 years, it has been largely about card versus card in a race to the bottom.

Now we’re entering a new era: card versus alternative payment methods, including crypto. We aren’t trying to persuade businesses already accepting crypto to switch to us. Given the tens of thousands of credit card and electronic payment providers, the presence of a few that offer crypto solutions isn’t overwhelming. We’re not rushing to be first; our priority is to help educate the market. A significant amount of education is still necessary before the marketplace becomes highly competitive.

What keeps you up at night in terms of red flags or stress points?

Aronica: My main concern is meeting demand. We’ve developed a powerful solution that customers appreciate, but I often worry about not being able to help as many people as quickly as required. The challenge lies in scaling to meet market demand in order to achieve something truly remarkable. Anything less would feel like a failure in our execution goals. Our current focus is on maintaining our momentum, delivering exceptional service, and ensuring our customers are satisfied in the process.