Payments

Microsoft brings payments for businesses on Teams

  • Microsoft has collaborated with Stripe and PayPal to enable in-app payments for small businesses on Teams.
  • Connecting or signing up for one service – Stripe or PayPal – is required to set up the Teams Payments app, with support for GoDaddy in the cards.
close

Email a Friend

Microsoft brings payments for businesses on Teams

Microsoft has collaborated with Stripe and PayPal to enable in-app payments for small businesses on Teams.

Late payments have become one of the most pressing challenges faced by businesses today. Data shows that 59% of small businesses experienced late payments from customers, and about one-third raised concern about their ability to continue as an ongoing concern because of it.

A photograph showing a live Teams session, in which the host is sending a payment request to one of her clients during the meeting
Source: Microsoft

Teams Payments will let meeting hosts accept payments during virtual appointments, classes, sessions, webinars, or events. Customers can pay at any point during a meeting by connecting to their Stripe or PayPal accounts to facilitate transactions within a meeting setting. Additionally, hosts or businesses can also add an advance payment option for consumers looking to join a Teams session.

Connecting or signing up for one service – Stripe or PayPal – is required to set up the Teams Payments app, with support for GoDaddy in the cards. Consumers can also connect to more than one payments provider to have the flexibility of using different services for different types of transactions. 

Stripe accepts credit and debit card payments including Visa, MasterCard, and American Express, while PayPal accepts PayPal wallet payments as well as credit and debit card payments from customers. 

Microsoft is tapping Stripe’s Stripe Connect to streamline payment acceptance and identity verification for transactions in Teams. Stripe Connect offers payment integration for platforms and marketplaces through its APIs. 

“We’re seeing that platforms are integrating payments in more places because it’s proving to solve more problems for more businesses,” Aakash Sahney, head of product, Stripe Connect at Stripe told Tearsheet.

“By partnering with Microsoft, we're able to reduce barriers to payments for businesses across all industries by integrating our solutions into the Teams platform, which has become a useful meeting place for consumers and businesses to engage.”

A screenshot showing that meeting hosts can track the status of received or outstanding payments, once a customer settles up
Source: Microsoft

Microsoft Teams lets meeting hosts track the status of successful and/or failed payments  – whether the amount is received or outstanding – once a customer settles up.

Business customers with a Microsoft 365 or Teams subscription in the US and Canada can download the payments app in public preview at no charge. However, the global rollout of the new feature hasn’t been announced yet.

0 comments on “Microsoft brings payments for businesses on Teams”

Payments

Instant options are becoming the top pick for ad hoc payments

  • In catering to pressing enterprise needs, ad hoc payments may complicate companies' routine invoicing and payroll processes, introducing interruptions.
  • However, a spike in senders embracing instant payments in ad hoc transactions indicates that a shift toward speedier and more responsive payments is likely underway.
Sara Khairi | November 27, 2023
Payments

Is Pay by Bank on the verge of becoming a consumer favorite? Adyen and Plaid’s collaboration echoes a ‘yes’

  • Adyen has taken another step forward with its alliance with Plaid, connecting a sequence of moves aimed at gaining traction in the US market.
  • The new alliance can be a way to remedy the shortfall in both Adyen's stock value, which dropped about 39% since the start of the year.
Sara Khairi | November 22, 2023
Payments

The Rock and Acorns have released a new debit card

  • Acorns and Dwayne The Rock Johnson have teamed up to create the Mighty Oak debit card.
  • The debit card's marketing campaign is pulling out all the stops and is using The Rock's celebrity, the holiday season, and talk show appearances to stand out.
Rabab Ahsan | November 17, 2023
Payments

Are gaming companies missing the opportunity to monetize instant payouts?

  • As the digital transformation sweeps across industries, the gaming sector has also adjusted its course.
  • However, gaming enterprises are likely not fully attuned to the prospects for capitalizing on the expansion of the online gambling market.
Sara Khairi | November 16, 2023
Payments

Credit card balances are sky-high and a tenth of consumers are locked into persistent debt

  • Credit card balances have hit a new high of $1.079 trillion, rising $154 billion from last year.
  • Delinquencies are also rising in tandem, and a tenth of consumers are locked in persistent debt.
Rabab Ahsan | November 14, 2023
More Articles