Xero has announced a partnership with PayPal claiming that, by allowing a business’ customers to pay direct from the invoice, it will reduce payment delays.
Xero says that, based on its current data, over 60 percent of invoices are paid late. “Since unpaid invoices are a major headache for small business owners, we are pleased to announce a slick new integration with PayPal, which is due to be released later this month,” the company said.
Xero CTO Craig Walker, said: “By enabling third party financial services providers such as Braintree and PayPal to integrate with Xero globally, small businesses are able to offer multiple payment options on an invoice, giving them and their customers choice of payment, ensuring they get paid faster.”
Walker claimed that Xero’s integration with PayPal had allowed the cloud accounting software vendor “to address one of the biggest concerns for small businesses owners: delayed cash flows.”
The CTO said: “By extending our integrations with PayPal payments and automating the invoicing reconciliation process, we are giving customers the tools they need to spend less time chasing money and more time focusing on growing their business.”
PayPal Express Checkout for Xero uses the newest PayPal API. Payers either log in and pay with PayPal or pay with a credit card, eliminating the process of being directed to a separate website to complete payment. The integration also allows business owners to automatically view and reconcile PayPal transactions from within Xero.
Xero says PayPal Express Checkout for Xero will be available to its customers in the next few weeks.