Craig Walker, Founding CTO & Executive General Manager Platform Business Technologies at Xero

New Zealand-based Xero, a small business platform for small businesses and their advisors, has announced a partnership with technology company Stripe. The collaboration aims to develop new innovations that help small businesses get paid faster, in more ways, and gain more visibility over their business performance.

The partnership announced at Xerocon San Diego 2019, will enable new payments experiences that are more seamless and efficient for small business owners and their advisors around the world. Xero and Stripe are building new tools to invoice customers more efficiently, bring additional insights on their business performance and get paid, no matter how or where they do business.

“Small businesses are fundamental to the growth of major and developing economies around the world; ensuring that they get paid on time is vital to their survival and growth,” said Craig Walker, Founding CTO & Executive General Manager Platform Business Technologies at Xero. “We built the Xero platform to help small businesses grow with better tools, smarter insights and comprehensive connections to the information they need to run their business. Our partnership with Stripe today brings us even closer to helping small businesses spend less time chasing payments, and more time focusing on doing what they love.”

The partnership will allow the implementation of Stripe Feed, designed to bring comprehensive transaction data for all Stripe payments into Xero for easy reconciliation and greater insights, whether a small business invoices from the Xero platform or an e-commerce site, and Auto pay, allowing small businesses to set up and receive recurring payments for repeat billing customers directly through Xero.

“At Stripe, we build payments infrastructure that enables new kinds of businesses to start, run, and scale,” said Jeanne DeWitt, Head of Revenue and Growth for North America at Stripe. “Together, Xero and Stripe will bring sophisticated payments tools to the growing community of small businesses, advisors and entrepreneurs who use Xero daily and who are critical drivers of our internet economy.”

Recently, Stripe also led the Series A investment round for Step and saw the acquisition Touchtech Payments for expansion into Europe.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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