Xero Integration with Swipe HQ Set to Improve SME Cash Flow
Xero Integration with Swipe HQ Set to Improve Cash
Flow for Kiwi SME'S
By Fleur Revell
10 July 2014
New Zealand SMEs will now have access to a low cost credit card gateway thanks to a new partnership between Xero and local merchant facility provider Optimizer.
The payment technology known as Swipe HQ allows businesses to insert a ‘pay now’ link into their Xero invoices and receive payment via credit card from their customers.
Optimizer Group CEO, Manas Kumar says the technology offers businesses a low cost way to improve their short term cash flow.
He says this new partnership with Xero comes on the back of its recent rollout of Swipe HQ into a number of Asian markets: Vietnam, Sri Lanka, Mongolia, Thailand and Philippines.
Kumar says the option to pay by credit card is usually readily accepted by customers as the credit card company offers additional payment days as well as loyalty rewards, such as frequent flyer points.
"For the supplier, the improvement in cash flow and reduction in administrative resources required to chase outstanding accounts far outweighs the 2.75% transaction fee for the service.
"In our experience, businesses which introduce our card payment links into their accounting process get paid faster,” he says.
Xero New Zealand Managing Director, Victoria Crone, says the introduction of Swipe HQ into the Xero ecosystem is a welcome addition.
“Cashflow is hugely important to our small business customers. By combining Swipe HQ with Xero, customers can bring invoice presentation and payment online and get paid faster. ”
The Swipe HQ virtual payment gateway is free for Xero customers to join, and has no monthly fees. More information on the service is available at www.swipehq.com/xero-integration.