Microsoft is launching the Teams Payments app, which allows SMBs to easily manage and collect real-time Stripe and PayPal payments directly within the Teams meetings interface
The new Teams Payments app will enable SMBs to collect payments for appointments, classes, webinars and any other professional service meetings they host in Teams in real time before, during or after the meeting itself. The function works both on desktop and mobile devices, adding even more flexibility to the ways one can get paid.
These new capabilities bring added value to video conferencing, voice, messaging, workplace organizer, premium security solutions, AI automation and other embedded tools Microsoft Teams offers to businesses.
Stripe- and PayPal-powered payments are already live on the platform, currently available in public preview in the Teams Store for Teams Essentials and Microsoft 365 business subscribers in the United States and Canada. The GoDaddy functionality will be released soon.
With the new partnership, Stripe Connect will streamline payment acceptance and ID verification for transactions in Teams, while also handling the onboarding requirements.
Stripe’s businesses processed over $817 billion in 2022, up 26% from the previous year. The cooperation with “one of the world’s most popular collaboration platforms” will only “help millions of companies accelerate their online revenue growth,” believes Stripe Chief Revenue Officer Mike Clayville.
The new version of Microsoft Teams, boosted by AI capabilities and payment features, brought the use of the tool to an all-time high, having surpassed 300 million monthly active users during the most recent quarter.