Small businesses can now offer customers the option to pay their invoices with Apple Pay through cloud accounting software provider Xero. Here's what you need to know.
Xero is offering the Apple Pay feature to customers through mobile payments provider Stripe. Small business issuing invoices through Xero can already accept payments with credit cards, debit cards and PayPal.
Late payments to small businesses have become a big problem in Australia, so much so there is now a government enquiry on the matter. Xero hopes by having another method of payment on their invoices will help small businesses get paid faster. Here's what Xero CTO has to say about the Apple Pay integration:
"Mobile payments are the way of the future. Attaching a payment option to online invoices helps Xero customers get paid almost 80% faster than invoices that don’t use a payment service - so they spend less time chasing unpaid invoices for a more productive and cash healthy business.
"By enabling these connections with payment services, small businesses are able to offer multiple payment options on an invoice, giving them and their customers choice of payment and also the ability to pay the invoice as soon as it arrives, ensuring they get paid faster."
Apple Pay transactions through Xero will be automatically entered and matched against invoices in cloud accounting platform.