Microsoft teams up with Stripe, GoDaddy and PayPal for in-meeting payments
Microsoft Teams, a video product used by 300 million people monthly, will now allow users to process payments within the meeting platform.
As many businesses continue to operate in a remote space, Microsoft is embedding payment capabilities into its video platform, Teams. The new offering will allow users to connect to their GoDaddy Payments, PayPal, and Stripe accounts, to facilitate transactions within a meeting setting.
“Getting paid for appointments, classes, and webinars—essentially any meeting you host in Teams—has just become easier,” Microsoft wrote in its blog announcement. The offering, now live, is available for businesses in the United States and Canada and will allow users to collect payments on both desktop and mobile meetings.
The offering appears targeted at small businesses, Microsoft reported that 300 million people use Teams every month, making their potential market size substantial. Businesses will be able to “access the funds in seconds,” before, during, or after a Teams session, according to Stripe’s press release.
"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," Stripe’s chief revenue officer Mike Clayville said.
Microsoft wrote that “a lawyer or financial advisor can collect payments for consultative appointments… or a teacher for tutoring classes—all while the customer is engaging with them.” The tech giant said the offering can help SMBs increase their revenue and ease customer interactions.
And while users are currently able to connect their PayPal and Stripe accounts to the new offering, those hoping to with GoDaddy will have to wait as the press release said that functionality is “coming soon.”
Users can download the Payments app in public preview in the Teams Store and Microsoft 365 business at no charge.