US-based financial services company Stripe has partnered with New Zealand-based business platform Xero to facilitate small businesses get paid faster. Stripe and Xero are working together to build a deeper integration of Stripe Connect into Xero’s small business platform that will enable greater convenience for customers and automate accounting for transactions.

The expanded partnership will see Xero continuing to leverage Stripe’s expertise in payments infrastructure to support millions of small businesses on its platform across Australia, Canada, New Zealand, United Kingdom, and the United States. Improved the cashflow for SMBs Xero’s officials noted that getting paid quickly can be a matter of survival for small businesses in the current economic climate. As they increase their focus on building customer choice and experience into the Xero platform, they’re happy to deepen their integration with Stripe to deliver seamless customer experiences.

Ultimately, they expect continued emphasis on innovation with Stripe, leading to easier payment experiences and helping small businesses make better money decisions. Xero started working with Stripe in 2013 to help its customers get paid faster and to streamline recurring payments. Xero partnered with Stripe so its users could accept credit and debit card payments, and today, Xero customers can set up Stripe in just a few minutes, saving hours that they normally would spend chasing payments.

With Stripe, Xero customers now get paid up to twice as fast as customers who do not use online payments, which helps these small businesses be more productive and maintain a cash-healthy business. According to Stripe, no company wants to chase payments when they could be focused on growing their business. In a time when every dollar counts, expanding the partnership with Xero will help more small businesses get paid faster and manage revenue with less friction.

The partnership with Xero has evolved over the years as Xero became one of Stripe’s first ecosystem partners in 2018. With the Stripe and Xero integration, businesses can offer end customers to pay invoices using their preferred payment method, automate recurring billing, and reconcile transactions in one click. .