Xero and PayPal Deliver Express Checkout to Solve Cash Flow Woes

Payment solution by PayPal and Xero helps small businesses get paid faster

WELLINGTON, August 17, 2016 - Xero, a global leader in online accounting software for small business, and PayPal, a global leader in online payment solutions, today announced a strategic partnership that will result in a faster, smoother payment experience for businesses.

Small business owners consistently point to delays in getting paid as one of their biggest pain points, which puts a strain on cash flow. Based on our current data, over 60% of invoices are paid late. Since unpaid invoices are a major headache for small business owners, we are pleased to announce a slick new integration with PayPal, which is due to be released later this month.

With PayPal Express Checkout for Xero, clients will be able to pay in just a few clicks from directly within the invoice, speeding time to funds.

In the seven months to July 2016, more than $121 million ($US 88.6 million) worth of PayPal transactions were processed by small businesses on the Xero platform, representing a 40% growth over the period.

“By enabling third party financial services providers such as Braintree and Paypal to integrate with Xero globally, small businesses are able to offer multiple payment options on an invoice, giving them and their customers choice of payment, ensuring they get paid faster,” said Craig Walker, CTO, Xero.

“Working with PayPal has allowed us to address one of the biggest concerns for small businesses owners: delayed cash flows. By extending our integrations with PayPal payments and automating the invoicing reconciliation process, we are giving customers the tools they need to spend less time chasing money and more time focusing on growing their business,” said Walker.

“This partnership with Xero has allowed us to continue our mission of delivering secure and easier ways for businesses to get paid online,” said Steve Fusco, Vice President and General Manager of North American Distribution at PayPal. “Sometimes it feels like you have to go above and beyond to get your invoices paid, but with PayPal Express Checkout, we are offering Xero customers a faster and simpler way to get paid, and reduce time spent on the payment process to just a couple of clicks.”

More Automation, Less Manual Reconciliation

PayPal Express Checkout for Xero leverages the newest PayPal API so customers have an in-context experience tied directly to their invoice. Clients can now either log in and pay with PayPal or pay with a credit card, eliminating the process of being directed to a separate website to complete payment. The seamless integration also allows business owners to automatically view and reconcile PayPal transactions from within Xero.

PayPal Express Checkout also offers new functionality when set up with Xero bank feeds that significantly cuts down on manual processes, including:

• Invoice auto-marked as paid: Invoices are now automatically marked as paid within one business day of the transaction being entered into Xero.
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• Easier reconciliation: Invoices are easier to reconcile when the bank transaction matches with the invoiced amount and PayPal transaction ID.
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• Auto-creation of fees: The PayPal fee will appear as a separate line item and the business owner can create a rule so they can reconcile fees to an account.
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• One Touch™ enabled: Opt-in to stay logged in for faster purchases with One Touch™. Customers can check out faster at their favorite sites without typing in a password, billing, and shipping info.
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Availability & Resources

PayPal Express Checkout for Xero will be available to Xero customers in the next few weeks. Visit Xero App Marketplace to explore 500+ time-saving apps that connect with Xero.

Xerocon South
PayPal is proud to be a gold sponsor at Xerocon South, the largest accounting technology conference in Australasia with more than 2000 attendees, on 8-9 September, as part of its commitment to helping small businesses get paid.

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