Microsoft Teams now lets you charge for a class, webinar, or other in-meeting service
Those of you who provide a service that you can deliver virtually can now charge people for payment via Microsoft Teams. On Monday, Microsoft announced the public preview of a new Payments app that integrates with Microsoft Teams, allowing you to manage and collect payments during a meeting. Currently available for users in the U.S. and Canada, the process supports payments through GoDaddy, PayPal, and Stripe.
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Though aimed at small businesses, the Payments app can benefit a variety of professionals who offer a service in a virtual space. Aside from citing teachers and tutors who conduct online classes, Microsoft suggested that a lawyer or financial advisor could collect payments for consultations, while a real estate instructor could do the same for license-renewal sessions.
The public preview of the Payments app is accessible in Microsoft's Teams Store for Teams Essentials and Microsoft 365 business subscribers at no charge. Payments are supported in both the desktop and mobile versions of Microsoft teams. Collecting funds through Stripe and PayPal is available now, while GoDaddy Payments integration is coming soon, Microsoft said.
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Though virtual meetings have been around for years, the impact of COVID-19 forced companies and individuals to ramp up their use of cyberspace to conduct business. But small business owners and users can still run into obstacles trying to coordinate all the aspects of their services in a virtual space. The goal behind the Payments app is to help smaller companies more seamlessly manage the different requirements of working with customers and clients.
"Small businesses continue to face many, many challenges," said Bernardo Martinez, VP of Microbusiness at PayPal. "Whether dealing with a cash flow crunch, finding new customers, or expanding to new channels, small businesses need partners to help them solve these problems. Our collaboration with Microsoft allows us to address a common pain point -- accepting payments for virtual customer interactions."
To try the new payments system, you first need to download and install the Payments app from Microsoft. After you've installed and customized the app, you then set up a connection to an account with GoDaddy Payments, PayPal, or Stripe. During the meeting, you're able to send a payment request to the recipients. In turn, they can then send you payment through a credit or debit card, digital wallet, or other method.
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After you've collected the money for one or more meetings, you can track and review the received payments. You're able to see which people have paid, how much they paid, and how the payment was handled. You can also follow up by sending payment reminders to those who haven't yet paid.