Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced it is partnering with PayPal, to enable faster and simpler payment options.
An integration of PayPal, the global payments provider, as a payment option on Sage 50cloud, enables users of Sage 50cloud to offer their customers a secure online payment method, making financial transactions easier and, quicker.
The integration of Sage 50cloud with PayPal gives businesses more choice by providing an integrated way of getting paid quicker and improving cash flow. PayPal has 237 million active account holders globally, with over 24 million in the UK, meaning customers can easily sign-up to PayPal and start to accept payments with a business account, making it one of the most flexible methods of digital payment. Simple to activate, once the account has been set up, Sage 50cloud customers can start taking payments on invoices straight away.
Recent studies have shown that small businesses spend up to 120 days a year on administrative tasks, and with up to 15 days spent on chasing late payments, and with 11% of all invoices paid to small and medium businesses globally are paid outside payment terms. With Sage 50cloud and PayPal, businesses can reduce the time spent on chasing those late payments, and with built in auto reconciliation, accounts are automatically updated reducing time spent on administration.
Seamus Smith, EVP of Global Payments and Banking, Sage, said: “Our partnership with PayPal is another great example of how we can support businesses who want simple, accessible and flexible ways of managing money. We have created a partnership with a world-leading payment provider to offer a secure and easy way for customers to pay, by adding a 'pay now' button to invoices. I’m excited about the potential opportunities provided through this partnership to further drive customer success.”
Nicola Longfield, Senior Director of Small and Medium Business and Partnerships, PayPal, said: “For small businesses looking to grow, time and money are both paramount. PayPal has the solution to support a business with payments online, on a mobile device, in an app or in person and our integration with Sage continues our commitment to create by better ways to manage and move money, at the same time as offering choice and flexibility when making payments or getting paid.”
The integration is currently live in Canada, Germany, UK and US.