Small Business
Xero and PayPal Partner to Deliver Express Checkout
With PayPal Express Checkout for Xero, clients will be able to pay in just a few clicks from directly within the invoice, speeding time to funds. This announcement was made at Xerocon 2016 in San Francisco on August 1517, 2016.
Aug. 16, 2016
Xero and PayPal have announced a strategic partnership that will result in a faster, smoother payment experience for businesses. Xero is a maker of online business accounting software, and PayPal is the global leader in online payment solutions.
Small business owners consistently point to delays in getting paid as one of their biggest pain points, which puts a strain on cash flow. Xero customers sent almost 9.5 million invoices in the last 30 days alone. And based on our current data, over 60 percent of those invoices will be paid late. Since unpaid invoices are a major headache for small business owners, we are pleased to announce at Xerocon a slick new integration with PayPal, which is due to be released later this month.
With PayPal Express Checkout for Xero, clients will be able to pay in just a few clicks from directly within the invoice, speeding time to funds. This announcement was made at Xerocon 2016 in San Francisco on August 1517, 2016.
In the seven months to July 2016, more than $US 88.6 million worth of PayPal transactions were processed by small businesses on the Xero platform, representing a 40 percent growth over the period.
“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,” said Craig
Walker, CTO, Xero. “Working with PayPal has allowed us to address one of the biggest concerns for small businesses owners—delayed cash flows. 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,” said Walker.
More Automation, Less Manual Reconciliation PayPal Express Checkout for Xero leverages the newest PayPal API so customers have an incontext experience tied directly to their invoice. Clients can now 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 seamless integration also allows business owners to automatically view and reconcile PayPal transactions from within Xero.
PayPal Express Checkout also offers new functionality when set up with Xero bank feeds that significantly cuts down on manual processes, including:
● Invoice automarked as paid: Invoices are now automatically marked as paid within one business day of the transaction being entered into Xero.
● Easier reconciliation: Invoices are easier to reconcile when the bank transaction matches with the invoiced amount and PayPal transaction ID.
● Autocreation of fees: The PayPal fee will appear as a separate line item and the business owner can create a rule so they can reconcile fees to an account.
● One TouchTM enabled: O ptin to stay logged in for faster purchases with One TouchTM.
Customers can check out faster at their favorite sites without typing in a password, billing, and shipping info.
“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, Vice President and General Manager 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.”