Story image

Kiwi SMEs set for improved cash-flow thanks to Xero

11 Jul 14

New Zealand SMEs will now have access to a low cost credit card gateway thanks to a new partnership between Xero and local merchant facility provider Optimizer.

The payment technology known as Swipe HQ allows businesses to insert a ‘pay now’ link into their Xero invoices and receive payment via credit card from their customers.

Optimizer Group CEO, Manas Kumar says the technology offers businesses a low cost way to improve their short term cash flow and that this new partnership with Xero comes on the back of its recent rollout of Swipe HQ into a number of Asian markets, such as Vietnam, Sri Lanka, Mongolia, Thailand and Philippines.

Kumar says the option to pay by credit card is usually readily accepted by customers as the credit card company offers additional payment days as well as loyalty rewards, such as frequent flyer points.

"For the supplier, the improvement in cash flow and reduction in administrative resources required to chase outstanding accounts far outweighs the 2.75% transaction fee for the service," he says.

"In our experience, businesses which introduce our card payment links into their accounting process get paid faster."

Xero New Zealand Managing Director, Victoria Crone, says the introduction of Swipe HQ into the Xero ecosystem is a welcome addition.

“Cashflow is hugely important to our small business customers," Crone adds. "By combining Swipe HQ with Xero, customers can bring invoice presentation and payment online and get paid faster."

Commerce Commission report shows fibre is hot on the heels of copper
The report shows that as of 30 September 2018 there were 668,850 households and businesses connected to fibre, an increase of 45% from 2017.
Dr Ryan Ko steps down as head of Cybersecurity Researchers of Waikato
Dr Ko is off to Australia to become the University of Queensland’s UQ Cyber Security chair and director.
Businesses in APAC are ahead of the global digital transformation game
“And it’s more about people and culture - about change management - along with investing in the technology.”
HubSpot announces fund for 'customer first' startups
HubSpot is pouring US$30 million (NZ$40 million) into a new fund to support startups that demonstrate ‘customer first’ approach of not only growing bigger, but growing better.
Mac malware on WatchGuard’s top ten list for first time
The report is based on data from active WatchGuard Firebox unified threat management appliances and covers the major malware campaigns.
LearnCoach closes $1.5m seed round
The tutorials are designed for students who want to learn NCEA subjects but can’t make it to a physical classroom.
Bin 'em: Those bomb threat emails are complete hoaxes
A worldwide spate of spam emails claiming there is a bomb in the recipient’s building is almost certainly a hoax.
Marriott sets up call centres to answer questions on data breach
Marriott has released an update on the breach of the Starwood guest reservation data breach which affected 500 million guests.