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What is the Best Tool to Accept Payments in Xero?

Sarah Janssen

Account Lead

Managing payments in Xero can be tedious and time-consuming WITHOUT the right tools.

Many Xero users face significant challenges when it comes to handling payments efficiently. The manual processes involved can be cumbersome, leading to errors and wasted time. This not only affects the workflow but also hampers cash flow management, which is critical for any business.

The need for a streamlined solution to accept payments for Xero invoices is evident. Businesses are constantly looking for ways to simplify their payment processes, reduce transaction fees, and improve their overall financial management. This is where a powerful tool like Rescue Payments comes into play, offering an excellent option to make payment acceptance in Xero seamless and efficient.

Frictionless Payments Are Essential for Xero Users

Businesses using Xero often find the available payment options clunky, expensive and inefficient. Manual entry of payments, disconnected payment gateways, and limited reporting are just a few of the issues that plague Xero users without proper payment integration’s. These challenges make it difficult for businesses to manage their finances effectively and hinder their ability to grow.

Key Payment Acceptance Challenges in Xero

One of the primary issues with Xero’s current payment system is the manual recording of payments in your bank account. This process is not only error-prone but also time-consuming, taking away valuable time that could be spent on more important business activities. Additionally, switching between different apps to manage payments disrupts workflows and leads to inefficiencies.

The lack of comprehensive integrated reporting in online accounting softwares, like Xero, makes it difficult for businesses to gain insights into their transactions. Without detailed reports, it becomes challenging to track payments, reconcile, monitor cash flow, and make informed financial decisions.

The Impact of Inefficient Payment Processes on Small Businesses

Inefficient payment processes can have a significant impact on small businesses. When payments are delayed or not recorded correctly, it can lead to cash flow problems, making it difficult for businesses to meet their financial obligations. This can result in missed opportunities for growth, as businesses may not have the funds necessary to invest in new projects or expand their operations.

In addition, inefficient payment processes can lead to increased administrative costs. Businesses may need to hire additional staff to manage their payments, or they may need to invest in additional accounting software, or tools to handle their payment processing. This can add to the overall cost of doing business and reduce the profitability of the company.

Introducing an Optimized Payment Acceptance Tool for Xero

Rescue Payments is an ideal solution for businesses looking to streamline their payment processes in Xero. We offer both a traditional and compliant surcharging model that helps businesses reduce credit card processing fees, all while speaking directly to Xero. By using Rescue Payments, businesses can eliminate the hassle of manual payment recording, improve their cash flow, reduced expenses and gain valuable insights into their financial transactions.

How Rescue Payments Streamlines Xero Payments

Rescue Payments seamlessly integrates with Xero, providing a two-way sync that ensures all payment data is accurately recorded. This integration allows businesses to create beautiful invoices and take payments within the same system, eliminating the need to switch between different apps. Automation of all payment information collection further enhances cash flow by ensuring that payments are collected promptly and efficiently.

The transparency provided by Rescue Payments is another significant benefit. With detailed reporting and reconciliation, businesses can easily track their payments, monitor their cash flow, and make informed financial decisions. Additionally, Rescue Payments offers phone and email support from payment experts, ensuring that businesses have access to the help they need whenever they encounter issues.

Key Benefits of Using Rescue Payments with Xero

One of the standout features of Rescue Payments is its ability to slash credit card fees using a compliant surcharging model. This model allows businesses to accept credit card payments and pass on a small surcharge to their customers, which helps offset the processing fees they would normally incur. As a result, businesses can optimize their revenue and reduce their overall costs.

Enhancing Customer Experience with Rescue Payments

Using Rescue Payments not only benefits businesses but also enhances the customer experience. Customers appreciate the convenience of being able to pay their invoices quickly and easily. With Rescue Payments, businesses can offer multiple payment options, including credit cards, direct debit, and popular payment options like Google Pay and Apple Pay. This flexibility makes it easier for customers to pay on time, improving the overall payment experience.

The professional invoices generated by Rescue Payments also contribute to a positive customer experience. These invoices are clear, detailed, and easy to understand, making it simple for customers to see what they are being charged for. This transparency helps build trust and confidence between businesses and their customers.

Comparing Rescue to Traditional Merchant Accounts (like Stripe)

Traditional merchant accounts have long been the standard for businesses accepting credit card payments online. However, these accounts often come with high processing fees, complex fee structures, and cumbersome application processes. In contrast, Rescue Payments offers a more streamlined and cost-effective solution on both our traditional and surcharge programs.

Lower Transaction Fees with Rescue Payments

One of the most significant advantages of using Rescue Payments over traditional Xero gateway options is the lower transaction fees. By using Rescue and utilizing a compliant surcharging model, businesses can pass on a portion or all of the processing fees to their customers. This can result in near-zero processing fees for the business, significantly reducing the overall cost of accepting payments.

Simplified Payment Processes

Traditional merchant accounts often require businesses to navigate complex fee structures and deal with multiple providers for different payment methods. Rescue Payments simplifies this process by offering a single platform capable of taking EFT’s and credit cards. This integration reduces administrative overhead and makes it easier for businesses to manage their payments.

Faster Payment Processing

Rescue Payments also offers faster payment processing times compared to traditional Xero gateway accounts. By providing a robust merchant account, configured specifically for your business, Rescue can enable next business day funding for your approved credit card transactions.

Start Accepting Payments the Easy Way with Rescue Payments

Rescue Payments is undoubtedly the best tool for accepting payments in Xero. Its seamless integration, cost-saving features, and comprehensive support make it an invaluable asset for any business using Xero. By choosing Rescue Payments, businesses can streamline their payment processes, reduce costs, and improve their overall financial management.

To start accepting payments the easy way, visit Rescue Payments today and sign up for our robust payment service. With Rescue Payments, you can take control of your payments, reduce cost, easily integrate and focus on what matters most – growing your business.

What are the key benefits of using Rescue Payments with Xero?

Key benefits of using Rescue Payments with Xero include:

  • Reduced Credit Card Fees: Through the compliant surcharging model, businesses can pass on processing fees to customers, significantly lowering their own costs.

  • Elimination of Manual Data Entry: The seamless integration with Xero automates data entry, reducing errors and saving time.

  • Improved Accounting and Cash Flow: Automated payment collections, recurring transaction capabilities and detailed reporting systems enhance financial management and cash flow.

  • Seamless Integration with Xero: The two-way sync ensures that all payment data is accurately recorded in real-time, maintaining up-to-date financial records.

  • Enhanced Customer Experience: Offering professional invoices and multiple payment options improves customer satisfaction and loyalty.

By integrating Rescue Payments with Xero, businesses can streamline their operations, reduce costs, and improve their overall financial health.

Want advice on setting up a surcharge program?

We host weekly live trainings teaching you how to get the most out of your surcharge program, and if you want to get learning right now, you can download our Surcharge Canada Guide.

Download the Surcharge Canada Guide
Surcharge Canada Guide