BPAY is one of the latest additions to the list of payment services that can be integrated with Xero accounting software.
Time to Speed Up Payments
Aiming to expand their payment services option in Australia, Xero online accounting software partners up with BPAY, one of Australia’s renowned and trusted bill payment system. This integration would give customers more options on how they want to pay online invoices.
Xero believes that online invoices should be paid 33% faster than the usual paper invoices, and that this latest integration with BPAY was one of the most anticipated features requested by their startup customers.
In a recent blog by Xero, they mentioned:
“This has been one of the most-requested additions from our small-business users. It is among Australia’s favourite ways to pay bills. The average BPAY amount is $823. And 368 million BPAY payments are processed annually via online banking, which averages to over to a million payments a day.**”
How it Works?
It’s simple! After you integrate BPAY with Xero, you can now accept BPAY payments from the invoices you’ll send to your customers.
Once you add a payment service in Xero, it automatically creates a Pay Now button for created invoices — making payments faster and convenient. This integration aims to reduce the need for chasing payments and provide more options for customers on paying you through Xero.
Customers can simply click the Pay Now button in the invoice, then they need to log into their online bank and choose BPAY as payment. Once funds are deposited, Xero auto-matches the payment with the invoice using the customer’s CRN (Customer Reference Number).
What are you waiting for? Speed up your payments by integrating your Xero account with BPAY! Setup your BPAY account by visiting Xero App Marketplace. You can also visit this blog to learn more on how Xero’s multiple payment options can benefit you and your customers.