Xero has announced the integration of Apple Pay through Stripe.
Xero subscribers can now offer customers the ability to view and pay an invoice using Apple Pay through Stripe. According to Xero, invoices paid with a payment service get paid almost 80 percent faster than invoices that don’t offer a payment service. This new feature is available automatically to everyone on Xero using Stripe where Apple Pay is available.
“Mobile payments are the way of the future,” said Craig Walker, Xero chief technology officer. “Attaching a payment option to online invoices helps Xero customers get paid almost 80 percent 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.”
Stripe is a payments application. Its Apple Pay integration allows payments to made from an application or website to be verified using a fingerprint via Touch ID. Once an invoice is issued from Xero, the Stripe integration allows the payment to be verified and completed using Apple Pay.
Businesses that want to pay an invoice via credit card today need to enter their credit card details to complete the payment. Credit card payments via Stripe mean that customers can confirm payment with Apple Pay using their fingerprint ID on their Apple device to confirm the payment quickly. Businesses who take payments via Stripe and Apple Pay also have an extra level of security. All payments made require a fingerprint or passcode, decreasing fraud, and with it, chargebacks.
The Stripe payment system, which also integrates with contactless readers, such as Square, that plug directly into an mobile device and integrates with Stripe’s payment service via an app, bring contactless payments to businesses without the need to purchase a payment terminal from a bank.
By connecting Xero users with Apple Pay transactions will be automatically entered and matched against invoices in Xero. Automating the invoicing reconciliation process makes accounting easier for small businesses.
As well as the new relationship with Xero, Stripe works with a number of other platforms including a number of web-based e-commerce solutions and other platforms.