Cloud accounting software provider Xero has clinched a major win for subscribers, launching integration with Apple Pay through payment system Stripe today.
Xero chief technology officer Craig Walker said “mobile payments are the way of the future”, adding that, considering more than 60% of invoices issued by Xero’s customers are paid late, its small business subscription base would appreciate the time and effort a payment service would save.
“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,” he said.
Apple Pay transactions are automatically matched against invoices within Xero, meaning there’s no need for a manual reconciliation.
Meanwhile, the customer doesn’t have to enter credit card details, instead using fingerprint ID on the iPhone to push the payment through.
Banking challenger Stripe is handling the actual credit card transaction with Apple Pay.
“We’re excited to work closely with Xero to help hundreds of thousands of businesses use Apple Pay to get their invoices paid with little more than a fingerprint,” said Stripe head of business development Cristina Cordova.
Xero’s Apple Pay deal comes after September’s integration with Facebook Messenger. The New Zealand software firm, which claims it has 862,000 subscribers in more than 180 countries, says it now integrates with more than 500 apps.