Microsoft has joined forces with financial platform Stripe, PayPal, and GoDaddy to launch payments for businesses on its Teams platform.
The integration will allow North American businesses to accept real-time card payments on Teams when hosting virtual appointments, events, and classes.
Stripe will handle all onboarding requirements when merchants sign up for Teams Payments, and businesses can set up an advance payment feature as a requirement for joining a Teams session. Companies can also collect payments during or after the session, with access to funds in seconds.
This partnership will “unlock new revenue streams” for businesses, said Brenna Robinson, general manager for small and mid-size business at Microsoft, and will enable Microsoft to deepen the impact of Teams, provide a better customer experience and boost revenue growth.
Business customers with a Microsoft 365 or Teams subscription in the US and Canada have free access to a preview of Teams Payments with Stripe and PayPal, with the GoDaddy preview launching soon. It remains unclear if Microsoft plans to roll out the feature worldwide. – FintechFutures