PayPal payments for invoices launched in Reckon One
Get Paid faster with PayPal, now integrated with Reckon One for invoicing.
PayPal is here!
Great news for small businesses – having your invoices paid just became simple, fast and effortless.
The partnership with PayPal will see Reckon’s online accounting platform, Reckon One, issue invoices with their world leading payments technology.
Invoices generated from Reckon One will now include a ‘pay now’ option to accept payments via debit and credit cards including AMEX, MasterCard and Visa or a PayPal account.
What does this mean for small business? Essentially payments are more likely to be made immediately and PayPal is able to rapidly process the transaction, transferring funds directly back to the vendors merchant account. Meaning money is put back in your pocket quicker.
Creating more options for small businesses
The partnership also assists SMEs by offering additional payment options for those that would otherwise not have EFTPOS facilities.
This importantly helps increase cash flow and removes the tiresome dependency on matching cheque and EFT payments to customer invoices.
“Cash flow is a major concern for small business and steps to alleviate the problem, such as setting up independent credit card processing technologies can be troublesome”.
– Sam Allert, Reckon Managing Director Australia and New Zealand.
“Setting up your own online credit card processing facility takes time, and forces companies to complete extensive steps including merchant facility approvals.
“We see this partnership with PayPal as a very innovative step forward for Reckon One. We are able to enhance our technology to help solve a real business problem and we are able to do this so efficiently we create substantial time and cost savings in the invoicing and payments process”.
“According to ASIC, in the 2014-2015 financial year approximately 44% of company failures were caused by inadequate cash flow or high cash use so any advantage which can be gained is critical,” he said.
PayPal is able to offer competitive rates and world class security, servicing more than 6 million Australian customers and more than 179 million globally.
What did PayPal have to say on the partnership?
Our partnership with Reckon offers its customers freedom of payment choice and confidence that payments are being made securely. Each PayPal transaction is monitored and heavily guarded behind advanced encryption to help prevent fraud and identity theft.
– PayPal Australia Managing Director, Libby Roy.
High Value Partnerships add to Reckon’s Appeal
The partnership between Reckon and Paypal adds to the list of deals which we have recently completed, with Reckon last week announcing a strategic partnership with OzForex Limited trading as OFX (ASX:OFX) which will provide access to better-than-bank rates on 55 currencies to Reckon customers using the OFX platform for international payments. Sam Allert added:
“Reckon One has the capacity to develop into Australia’s leading online accounting platform and is already the most affordable premium solution in the market. We’re rapidly integrating a suite of financial applications for SMEs that would otherwise be unavailable or too costly to access individually”.
To learn more about Reckon One visit:
Reckon One online accounting software
To learn more about the PayPal integration with Reckon One visit:
Reckon Community – Reckon One and PayPal