PayPal is making further moves into the B2B payments space through a partnership with SME accounting platform Xero.
The deal will see PayPal’s Express Checkout offered through Xero’s invoicing software to allow companies to pay invoices via the payment processor as soon as they’re received.
Xero users will also gain access to real-time updates to check the status of outstanding invoices and receive updates when they’re paid.
While PayPal is better known for its consumer-facing online payments it is steadily growing its presence in the B2B market, primarily targeting SMEs. The company claims that so far this year more than $88.6m PayPal transactions where processed by SMEs using Xero, a 40% increase on last year.
For Xero the deal could help the Australian firm expand its footprint in the US market.
The integration is scheduled for release later this month.
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