Microsoft taps Stripe, PayPal and GoDaddy to launch payments on Teams
US tech giant Microsoft has partnered with financial infrastructure platform Stripe, as well as PayPal and GoDaddy, to launch payments for businesses on Microsoft Teams.
Through the integration, North American businesses will be able to accept real-time card payments directly on the Teams platform when hosting virtual appointments, events and classes.
Businesses can set up an advance payment feature via Stripe as a requirement to join a Teams session, and can also collect payments during or after the session, with access to funds “in seconds”.
Through Stripe Connect, Microsoft will be able to streamline payment acceptance and identity verification for transactions on Teams, with Stripe handling all the onboarding requirements when merchants sign up for Teams Payments.
Brenna Robinson, general manager for small and mid-size business at Microsoft, says the partnership will “help unlock new revenue streams” for companies, allowing Microsoft to deliver a “better” customer experience, deepen the impact of Teams, and boost revenue growth.
Business customers with a Microsoft 365 or Teams subscription in the US and Canada now have access to a preview of Teams Payments with Stripe and PayPal free of charge, with the GoDaddy preview launching soon. Microsoft did not mention if they have plans to roll out the feature worldwide.