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See your money sooner with Xero + PayPal

Posted 2 years ago in Advisors by Craig Walker
Posted by Craig Walker

Xero is making huge strides towards a great online revolution in small business: to build a financial web that connects small businesses, banks, accountants and bookkeepers, and online software, that really allows businesses to grow by zeroing in on what they do best — building their own business.

But it’s hard for businesses to do that when they’re spending their time doing important yet time-sucking tasks like chasing payments, instead of innovating and growing. For example, we’ve found that Xero customers have sent almost 9.5 million invoices over the last 30 days alone. That’s a sure sign of healthy small businesses. Yet based on our current data, over 60% of those invoices will be paid late.

Xero + PayPal

With unpaid invoices causing a major headache for small business owners, we are pleased to announce a slick new integration with PayPal.

This update delivered a seamless new checkout experience for customers that will make it easy for invoices to get paid as soon as they are received, using Xero’s online invoices and PayPal Express Checkout. In addition to a fast payment experience, Xero users will now be able to see real-time status updates on outstanding invoices. Payment reconciliation will also be a breeze, with Xero doing all the heavy-lifting for you by auto-matching payments and fees.

I’m excited to have PayPal join us on our journey to rewire the small business economy. As small businesses move to simple, easy-to-use online tools like this latest integration in our ecosystem/App Marketplace, financial institutions and large enterprises are being made aware of the fundamental architectural shift. They’re connecting to these new platforms and as a result, the financial web is evolving quickly, especially where shared transactional services have become the expectation, shifting the focus on to revenue, opportunity, compliance, and risk management.

PayPal are a major online player. They’re providing an open and secure payments ecosystem across more than 188 million active accounts using 100+ currencies in over 200 countries.

Paypal Express Checkout offers a quicker, easier payment experience meaning customers can complete a payment in just 3 clicks once they receive an online invoice, removing the barriers of completing payment.

7 comments

Kirsten Barrie
August 19, 2016 at 1.48 pm

PayPal has always been a standard with Xero, very excited to see its new integration!

Kayne Middleton
August 20, 2016 at 12.22 pm

This is a good move. It’s a real headache at the moment to reconcile PayPal payments on invoices with fees etc.

Ashley Hart
August 20, 2016 at 1.12 pm

Exciting! Will the integration include the ability to accept recurring payments?

Robbie van der Heyden
August 20, 2016 at 7.17 pm

Do our customers need to be registered with PayPal? We own a storage business.

Mike Crompton
August 31, 2016 at 4.57 am

Let’s hope that Xero and Stripe will organise a similar integration…

Chris Hammond
October 30, 2016 at 9.36 pm

Will there be a facility to automatically add Pay pal fees to the invoice of the client?

I tend to find the fees PayPal charge quite expensive.

stuart
November 10, 2016 at 6.12 am

I hope all sellers that send items that have been paid via paypal even small items that unless they can show proof of posting and that the item has been posted using a tracking system the buyer can stop payment up to at least six weks after you have been paid
I have proof that I posted item but have just had and had i days notice from PayPal that they are taking payment back

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