Tax & admin Hunter Ruthven · 17 August 2016
Xero joins forces with PayPal to provide speedier checkout for small businesses
Two global technology businesses have announced a partnership, which is aiming to cut down the time it takes for small businesses to take payments from customers online. Xero, which is headquartered in New Zealand, and PayPal, based in California, have launched PayPal Express checkout with Xero. This has come about after nearly $90m worth of PayPal transactions were processed by small businesses on the Xero platform 40 per cent growth. Explaining the move, Xero’s founder and CEO Rod Drury said: By enabling third party financial services providers such as Braintree and PayPal 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. According to a statement, PayPal Express Checkout for Xero will allow customers to either log-in and pay with PayPal or pay with a credit card meaning directing to a separate website to complete payment will not be necessary. New features include auto-creation of fees, whereby a PayPal fee comes through as a separate line item and the business owner can then create a rule to reconcile fees to an account. In the competitive small business accountancy provider space, Xero now has 130, 000 users in the UK. Speaking to Business Advice in January, when he was providing insider expertise on the government’s transition to digital tax accounts, Xero’s UK MD, Gary Turner, said that the relevance of mobiles and tablets in the business world is reflected in the company’s product offering. if we all decided to quit our jobs and set up a business we would be unlikely to go to PC World and buy a PC each. Wed be on Google Apps, Office 365 and use social media rather than the old specification, he said.
ABOUT THE EXPERTHunter Ruthven
Hunter Ruthven was previously editor of Business Advice. He was also the editor of Real Business, the UK's most-read website for entrepreneurs and business leaders at the helm of growing SMEs.