Xero helps customers speed up the cash flow cycle with Stripe

Xero is cloud-based accounting software that helps small businesses save time bookkeeping by automating everyday tasks. The platform powers more than two million small businesses around the world.

Products used

    Payments
    Connect
Asia Pacific

Challenge

Xero needed a way to get its customers paid faster and to streamline recurring payments. They searched for a partner that could solve both of these issues so they could help their customers—including a thriving ecosystem of 700+ third-party apps and 200+ connections to banks and financial service providers eliminate some of the lag time and legwork around getting paid.

Solution

Xero partnered with Stripe so its users could accept credit and debit card payments, thus getting paid faster. Now that Xero’s clients can set up the Stripe payment method in just a few minutes, they save hours (and sometimes days or weeks) they normally would spend chasing payments. Stripe Connect allows customers to pay invoices immediately by simply entering their credit card details or authorizing the payment with mobile wallets like Apple Pay.

Results

With Stripe, Xero customers now get paid 14 days faster on average, which helps these small businesses be more productive and maintain a cash-healthy business. Making it easy for customers to pay invoices has helped Xero customers transform always-late into on-time payers, and has boosted the company’s overall retention rates.

Auto Pay: Click, pay, repeat

Who doesn’t love automation? The Auto Pay feature allows Xero customers to set up and receive recurring card-based payments for repeat billing customers. Thanks to this feature, businesses get paid on time, every time.

Reconciling payments has never been easier

Xero integrated a Stripe data feed into the platform. When a user receives payment via Stripe (whether on an invoice or in an e-commerce store), Xero will automatically create the payment for the business owners. This makes it easier to reconcile books than ever before. The partnership between Xero and Stripe has resulted in faster payment cycles for business owners, a frictionless experience for end customers, and a revenue surge for Xero.

Always know what you pay

Integrated per-transaction pricing with no hidden fees

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