PayPal advances in SME B2B payments with Xero partnership

Under the terms of the partnership, Xero is adding a PayPal Express Checkout option for small businesses using its cloud accounting software for invoices. This means an invoice created via Xero can be paid via PayPal straight from the invoice as soon as its received.

Also, Xero users will be able to track the status of outstanding invoices and receive real-time notifications when those invoices are paid.

According to PayPal’s data, more than USD 88.6 million PayPal transactions were processed so far this year by small businesses using the Xero platform, an increase of 40 % over last year. Hence, this latest integration has the potential to grow PayPals SMB payment volume even further.

For Xero, the integration allows the company to offer an additional benefit to customers as it aims to expand its footprint in the US, where the Australian companys main rival Intuit commands a firm grip on the tax software market.

This year both companies entered strategic partnership. Xero teamed up with Wells Fargo to create a secure data-sharing platform for Wells Fargo small business customers who use Xero’s accounting software and with Waddle for an invoice financing product that integrates with Xero`s cloud accounting software. PayPal ups B2B payments game with a recent partnership with small business accounting software provider Reckon.