Xero teams with PayPal for streamlined invoice payments
Xero and PayPal are linking up to create tighter integration between their services.
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More specifically, Xero is adding a PayPal Express Checkout option for small businesses using its cloud accounting software for invoices. This means an invoice created via Xero can be paid via PayPal directly from the invoice as soon as it's received.
Additionally, Xero users will be able to track the status of outstanding invoices and receive real-time status updates when those invoices are paid.
According to PayPal, more than $88.6 million PayPal transactions were processed so far this year by small businesses using the Xero platform, an increase of 40 percent over last year. This latest integration could help grow PayPal's SMB payment volume even further.
"This partnership with Xero has allowed us to continue our mission of delivering secure and easier ways for businesses to get paid online," said Steve Fusco, VP and GM of North American Distribution at PayPal. "Sometimes it feels like you have to go above and beyond to get your invoices paid, but with PayPal Express Checkout, we are offering Xero customers a faster and simpler way to get paid, and reduce time spent on the payment process to just a couple of clicks."
For Xero, the integration allows the company to offer an additional convenience perk to customers as it aims to broaden its footprint in the US, where the Australian company's main rival Intuit commands a firm grip on the tax software market.
Last year, Xero rolled out a payroll service for small businesses in the US with fewer than 20 employees. Its features help employers issue payroll, as well as with the electronic filling of state and federal payroll taxes.
In September, Xero inked a partnership with Shopify, enabling the platform's online merchants to automatically track their sales and other business financial data using Xero's software.
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