Worldpay, the UK-based payments processor, has announced its collaboration with Xero in order to simplify payments for hundreds of thousands of SMBs.
As part of the partnership, Xero users will have the ability to create and send electronic invoices, including a ‘Pay Now’ option which enables customers to pay instantly once they enter their debit or credit card details. These details will be processed immediately through Worldpay’s payments gateway.
According to Worldpay, bulky payments processes cause barriers between the business owner and their customers. This inconvenience can potentially lead to delays in getting paid. By collaborating with Xero, the ‘Pay Now’ function will enable faster payments by making the whole payment process simpler for customers. The ‘Pay Now’ function also includes automatic reminders when payments are due.
James Frost, chief marketing officer at Worldpay UK, said: “It’s estimated that small business owners are owed as much as £14bn ($18.4bn), and for many business owners, chasing down payments and following up on invoices becomes almost a full-time job when they’d far rather be concentrating on something else.
“Most customers have good intentions when it comes to paying their suppliers, provided the process is made easy for them. Our partnership with Xero provides business owners a simple, efficient and professional way to make life easy for their customers, and removes the hassle of getting paid.”
Edward Berks, director sales, financial web and ecosystem at Xero, added: ‘By working with Worldpay in this way, we’re making the lives of small businesses up and down the country a whole lot easier.
“Getting paid quickly and making it easier to sell goods and services is a clearly stated priority for UK businesses. This partnership is exciting for the customers of both Worldpay and Xero.”
Worldpay supports over 300,000 small businesses in the UK.