Microsoft debuts new Payments app to help small businesses receive funds within Teams

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Microsoft has announced the launch of a new Payment app within Teams in public preview for users based in the US and Canada. The app is designed to help small businesses earn money from webinars, appointments, and more.

Ever since the COVID-19 pandemic hit, a lot of organizations shifted to hybrid work and with that, the need for a communication tool arose that would allow them to share ideas, collaborate on projects, and even provide a platform for where they could conduct virtual meetings.

Now, with the launch of the in-app payments system in Microsoft Teams, users will be able to receive payments while in meetings. While on an Interview with The Verge, the general manager of Microsoft 365 small and medium businesses Brenna Robinson said:

The pandemic changed the game. I think a lot of the SMBs have now pivoted where they’re now more tech savvy and they’re not just corner shops.

As such, this necessitated the launch of the in-app payments system in Teams. Microsoft has teamed up with third-party payment platforms, that is, GoDaddy, PayPal, and Stripe to ensure that it’s possible for small businesses to conduct virtual meetings and receive funds for the services rendered within Microsoft Teams. What’s more, the company has also indicated that it will be accessible to all Teams business users for free.

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The Payments app in Teams will change how things are done. For instance, if you need a service rendered, you’ll no longer have to meet with clients face to face. You can conduct the meeting virtually, reach an agreement, and make payments within Teams. Ultimately, this makes it easier for businesses to run effectively and efficiently.

Brenna Robinson highlighted how this new entry will change her interaction with her accountant. She says she’ll no longer have to meet up with the service provider ever again.

I’m not sure I’m ever going to meet my accountant in-person ever again. I think we’ve learned that we maybe didn’t need to be in-person for all of these things.

It is worth noting that users can use the new app to track their payments, that is, the money that has been sent as well as any pending payments. Microsoft has also indicated that the app also provides users with an avenue to make payments at any point during a meeting.

And while the app is shipping to users in the US and Canada exclusively in public preview, it’s not yet possible to make payments using GoDaddy just yet. However, both Stripe and PayPal are already available.

Microsoft has also cited that users have the capability to link more than one platform to their payments app in Teams, especially if they receive money from different third-party payment platforms.

It’s also worth noting that, mobile support is limited to meetings between the organizer and one other attendee. You’ll also be required to set up the app on a desktop computer before proceeding to send a payment request via a mobile device.

via The Verge