Microsoft launches Teams payments app for small businesses

Microsoft has partnered with GoDaddy, PayPal and Stripe to accept real-time card payments

Businesses in North America can now accept payments over Microsoft Teams.  

The new payments app will allow small businesses in the US and Canada to collect payments from within Teams, on a desktop or mobile, during a meeting. 

For example, a financial adviser can collect payments for consultative appointments, a real estate instructor can do the same for licence-renewal sessions, or a teacher for tutoring classes. 

Microsoft has partnered with GoDaddy, PayPal and Stripe to accept real-time card payments. Businesses can also set advance payment as a requirement to join a Teams meeting.  

This should help the 93% of businesses that have to deal with late payments from customers, which impedes cash flow and damages balance sheets.  

Osama Bedier, president of commerce at GoDaddy, said: “We’ve been busy building out our commerce platform to enable small businesses to accept payments anywhere, so this expansion to Teams’ meetings is a natural extension of that.”  

Bernardo Martinez, vice president of microbusiness at PayPal, said: “Small businesses continue to face many, many challenges. Whether dealing with a cash flow crunch, finding new customers, or expanding to new channels, small businesses need partners to help them solve these problems.  

“Our collaboration with Microsoft allows us to address a common pain point—accepting payments for virtual customer interactions—by providing them with a trusted method that both consumers and businesses know well.” 

Mike Clayville, chief revenue officer at Stripe, said: “Our partnership brings Stripe into one of the world’s most popular collaboration platforms and will help millions of companies accelerate their online revenue growth.  

“With Stripe, more businesses can now accept payments as easily as launching a video conference, chat or virtual presentation within Microsoft Teams.” 

Image: Microsoft  

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.