Xero, GoCardless launch integration to help combat late payments

Tuesday 7 August 2018 10:43 CET | News

Xero and direct debit payment solution GoCardless have teamed up to launch an integration to help tackle late payments in Australia.

Businesses can now accept direct debit payments through GoCardless for Xero, which is expected to improve payment times, and the transaction is automatically marked paid in Xero.

Late payments are a big issue for small business and hugely impacts how they make day-to-day decisions. Data from Xero Small Business Insights shows that in the month of April 2018, businesses with 30-day payment terms are waiting on average 36.3 days to get paid.

While it often takes more than your 30 day invoice terms for a customer to pay an invoice, direct debit can ensure you get paid on time. With permission from the account holder, GoCardless for Xero can automatically debit money from a nominated account on an agreed day – like the invoice due date. It offers businesses of all sizes the benefits of direct debit.

Traditionally direct debit is used for regular and recurring payments however the GoCardless for Xero integration offers a lot more flexibility. Through GoCardless for Xero a business can change the amount or frequency of a payment without needing additional authorisation. 

By encouraging customers to set up automatic payments by direct debit through GoCardless for Xero, businesses can ensure no more missed payments, keeping their cash flow in good shape.

Invoices are paid automatically with the transparent integration between GoCardless and their Xero account, which improves the overall cash flow within the business.

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Keywords: GoCardless, Xero, late payments, integration, Australia, cash flow, payments , invoices
Countries: World

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