Global financial infrastructure platform, Stripe and global small business platform, Xero have expanded their partnership to help small businesses worldwide get paid faster.

Stripe and Xero are working together to build a deeper integration of Stripe Connect into Xero’s small business platform to enable greater convenience and automate accounting for transactions. The expanded partnership will see Xero continuing to leverage Stripe’s expertise in payments infrastructure to support millions of small businesses across Australia, Canada, New Zealand, United Kingdom, and the United States. 

“Getting paid quickly can be a matter of survival for small businesses in the current economic climate,” Xero chief growth officer, Chris O’Neill said.

“As we increase our focus on building customer choice and experience into the Xero platform, we’re excited to deepen our integration with Stripe to deliver seamless customer experiences. Ultimately, we expect our continued emphasis on innovation with Stripe, a leader in embedded finance, to lead to making payment experiences easier and help small businesses make better money decisions.”

Xero started working with Stripe in 2013 to help customers get paid faster and streamline recurring payments. Xero partnered with Stripe so its users could accept credit and debit card payments, and today, Xero customers can set up Stripe in just a few minutes. With Stripe, Xero customers now get paid up to twice as fast as customers who do not use online payments.

“No company wants to chase payments when they could be focused on growing their business,” Stripe vice president of global partnership and alliances, Dorothy Copeland said.

“In a time when every dollar counts, expanding our partnership with Xero will help more small businesses get paid faster and manage revenue with less friction. We value our long-term partnership with Xero and becoming an instrumental lever for their customers and their strategic growth of their business.”