Equifax data in Xero: so you know who you're doing business with

See the payment risk of companies you do business with in Xero and assess your risk exposure beforehand. The risk scores are provided by Equifax, Australasia’s leading credit bureau.

Make informed decisions about who you do business with.

View a business’s payment risk powered by Equifax easily in Xero and choose your terms of trade when you do business. Reward businesses with favourable payment terms when they have a low risk score. Play it cautious or do some further digging before you do business with someone with a high risk score - ask for deposits or full payment upfront and avoid being out of pocket.

Xero live contacts

Xero’s integration with Equifax makes finding a business easy. Use Xero’s lookup function to search for a business name, street, postcode, business location, or New Zealand Business Number (NZBN) .

Start typing and let the information you’re after auto-fill from the New Zealand Companies Register. Cut down time on data entry and avoid typos.


Xero and Veda trade payment indicator

Get a more complete picture of who you’re doing business with. Xero displays the payment risk for the companies you do business with. This is an assessment of the risk of default or non payment based on the company’s payment history.

To find out more you can purchase a SwiftCheck credit report from Equifax – just select View report from within the Xero contact screen.

Xero + Equifax: your questions answered

How can a payment risk indicator help my business?

Knowing the level of risk associated with companies you do business with, such as how late they pay their invoices, can help you make more informed decisions about who you’re dealing with. If a customer is high risk, you can purchase a SwiftCheck credit report to get a better insight into what payment terms would be most suitable, or ask for deposits or full payment up front. Learn more about credit reporting in this small business guide.

Where is the payment risk indicator information coming from?

The Business Lookup and payment risk information is powered by Equifax. Equifax sources the payment risk indicator information from multiple sources, and takes into account details of any commercial credit defaults and other debts, public record information, court judgements and writs, directorship details and proprietorship details. The multiple sources for the credit risk indicator are the same as Equifax’s commercial credit score – eg. courts, public record information, etc.

Xero does not exclusively hold this information or share information back with Equifax, Xero is simply making it easier for businesses to get access to a business’s credit score.

Why does my business show a high risk score?

A number of factors go into making up a payment risk indicator. If your business has been reported for defaulting on payment of invoices, has any outstanding legal actions or has gone into external administration, then these could increase its risk score. Learn more about what a credit score is and how to improve yours in this small business guide

What can I do about my business’s high risk score?

To find out what has affected your business’s payment risk indicator, you can purchase a SwiftCheck credit report from Equifax. If you’re still unsure, you can email swiftchecksupport@equifax.com.     

I believe there’s something incorrect on my file; how can I fix it?

Firstly, we recommend that you speak to the company who applied the default. You can purchase a SwiftCheck report to see the detailed information held on your credit file.

Only the company who applied the default in the first place can remove it (i.e. the company will get in touch with Equifax as a first step). If you feel that you haven’t got to a resolution and want the matter investigated, it is at this stage that we recommend you contact Equifax. You can email publicaccess.nz@equifax.com. Equifax will investigate your query and assist with any changes if required.

Who is Equifax?

Equifax (previously Veda) has grown from a credit company into a leading provider of insights and knowledge that help businesses make informed decisions. The company provides credit information on more than 91 million businesses worldwide. Learn more about Equifax.

What is a credit bureau?

A credit bureau is a company that collects and maintains individual and commercial credit information. This information is used by lenders and creditors to make lending decisions and payment risk assessments.

What is a payment risk indicator?

A payment risk displays a number that reflects how many days late a business pays their bills, from 0–120+. The longer it takes for them to pay their bills, the higher the risk. The payment risk indicator is separated into three bands: green is low risk, yellow is medium risk, and red is high risk. You can request a copy of a credit report, through Equifax’s SwiftCheck website – which you can access from within Xero.

How can I access more information about a business I am dealing with?

To get more information on a business, click through from your business lookup in Xero and purchase a SwiftCheck credit report from Equifax. A complete picture of a business you’re dealing with lets you see how they operate to mitigate the risk of not getting paid.

How do I get access to the business lookup?

The business lookup is enabled by default as part of a Xero subscription when you add a new contact.

Do I have to pay to use the business lookup and see a business's payment risk?

No, it’s available to all Xero users with access to contacts in Australia and New Zealand.

Can I hide my business’s payment risk indicator in Xero from other Xero users?

No. The Equifax payment risk is displayed to make it simpler for businesses on Xero to view what is already publicly available information and to check the credit worthiness of companies they do business with. 

Where can I get more information about SwiftCheck?

Visit the Equifax website and see the frequently asked questions there and watch the SwiftCheck video


Xero and Equifax take away the guesswork

You can purchase a full SwiftCheck credit report from Equifax right from your Xero contact entry. The report gives you the complete picture of a company or supplier’s payment history and payment risk. Sign up to Equifax to access credit reports on all their contacts through Equifax’s SwiftCheck service.

Find out more

View a detailed report on a company’s payment risk with Equifax

Trade payment rating sample report