Stripe will power payments for Teams, Microsoft’s collaboration and communications platform for businesses. The move will allow meeting hosts to accept real-time card payments during virtual appointments, classes and events. Businesses can also set advance payment through Stripe as a requirement to join a Teams session.

When merchants sign up for Teams Payments, Stripe handles the onboarding requirements to help them get paid.

Stripe uses the example of an online yoga instructor, who can request payments from students within a Teams chat. Microsoft will use Stripe Connect to programmatically route funds from customers to merchants after a payment has been made.

"Our partnership brings Stripe into one of the world’s most popular collaboration platforms and will help millions of companies accelerate their online revenue growth," says Mike Clayville, chief revenue officer, Stripe. "With Stripe, more businesses can now accept payments as easily as launching a video conference, chat, or virtual presentation within Microsoft Teams.”