Add payment services to your Xero and get paid faster

Nobody likes to get paid late. Chasing after customers for payments can feel awkward and takes time that you could be spending on other things. Plus, late payments have a negative impact on your cash flow. Unfortunately, late payments are a common occurrence still.

Direct payment option

A business survives by being paid on time and maintaining a healthy cash flow. Afterall it takes money to keep the doors open, the employees paid and the lights on. According to a recent survey*, 62% of small businesses don’t think they could survive more than three months if their outstanding invoices were not paid.

Adding a payment option directly to your Xero online invoices gives your customers more ways to pay you. Xero data shows that customers with a ‘Pay Now’ button to take credit card payment with Stripe or via Paypal can get paid up to twice as fast as invoices without a payment option.

If you don’t have a payment service you can easily add one in your Xero account. To learn more about setting up a payment service in Xero, visit our Help Centre.

Once you’ve signed up with one of the supported payment services, your customers will be able to pay immediately when they receive an online invoice – they simply click the Pay Now button, enter their credit card details and voila – invoice paid.

Once your invoices are out the door, don’t forget to follow them up with automatic invoice payment reminders.

Lastly, for more details about the survey, and for advice on tackling late payments, visit www.xero.com/au/cashflow-gap

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Source: Xero Blog