SME business platform Xero has expanded its partnership with GoCardless to streamline the online payment process for North American clients.
The GoCardless for Xero payment solution will enable SMEs in the US and Canada to automate payment collection and reconciliation.
The integration will utilise automated clearing house (ACH) debit in the US and pre-authorized debit (PAD) in Canada to facilitate such payments.
ACH debit and PAD collect payments automatically once they are due. Accordingly, the process enables the businesses to predict their future cash flow as well as offers accurate accounting data.
GoCardless co-founder and CEO Hiroki Takeuchi said: “In the US alone, 60% of B2B payments are still taken by paper checks.
“That’s a staggering amount of revenue that is processed offline, with little visibility or control on the part of the merchant.
“Through our partnership with Xero we can offer businesses a better, more integrated way to collect payments across the US and Canada so they can avoid high fees, late payments and the stress of worrying about cash flow.”
Xero and GoCardless first partnered in the UK to support payments for SMEs. Last year, the collaboration was expanded to Australia and New Zealand.
Xero founding CTO and executive general manager for payments Craig Walker said: “Small businesses drive economies of the world, yet late payments are a big issue for small businesses and impact how they make day-to-day decisions.
“By working with GoCardless, we’re helping to remove the hassle of late payments so small businesses can save more time and focus on doing what they love so their business can thrive long-term.”