Xero introduces to businesses a new payment solution

Xero and TransferWise to launch new solution. Source: shutterstock.com

Xero and TransferWise announced that they will launch Pay with TransferWise — a bill payment solution that will let Xero customers pay suppliers through Xero with their preferred bank account.

Pay with TransferWise will plug into TransferWise’s API, letting Xero customers in the UK pay their bills in a few steps:

1. Enter bills into Xero, and select the ones you want to pay.
2. Choose to pay using Pay with TransferWise and enter the payment details — they’re sent directly to TransferWise.
3. Transfer money from your preferred bank account to TransferWise, using the payment reference.
4. Once TransferWise receives your funds, they’ll pay all of the bills. You can see the status of the payments in Xero, and bills will automatically be marked as paid.

What is more, customers will be able to pay multiple bills in one transaction, saving time and money. In addition to that, they will also see the status of all payments in almost real-time, be alerted to potential errors before payment is processed, and be able to reconcile payments in one click.

Pay with TransferWise will be available in February, starting as a beta program.

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