Microsoft Teams gets new Payments app for small businesses in the US, Canada
Microsoft’s video calling platform, Teams offers several features to improve user experience. The tech giant has now introduced a payment system inside Teams. This new system will allow small businesses to earn money from appointments, classes, one-on-one sessions, webinars, and more. Businesses in some markets that use Teams will now be able to collect payments during a meeting. Microsoft is making this service available for financial advisors, lawyers, instructors, tutors, and other small and medium-sized businesses (SMBs) to collect payments from virtual meetings.
According to a report by 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”. Moreover, over the past few years, users have also seen a significant change in how services are being offered online. This shift was due to the growth and ease of virtual meetings.
Microsoft Teams payments service: Availability
The new payments system in Microsoft Teams is designed to allow businesses to host webinars or one-on-one sessions and accept payments for them. The company has also partnered with GoDaddy, PayPal and Stripe to power this payment system. Microsoft is offering this service for free to Teams business users and is currently available only for users in the US and Canada. The Teams payments app is currently available only in public preview. Eligible users can install and configure it from Microsoft’s business AppSource store.
Microsoft Teams payments service: How will it work
The Microsoft Teams payments app can track money received by businesses and will also notify users if any amount is outstanding. This system will also offer options for customers to pay at any point during a meeting. Stripe and PayPal integrations are already available as part of a public preview, while GoDaddy payments are expected to arrive soon.
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Microsoft Teams payments service: How will it help
Robinson has also explained that earlier users had met their accountants face-to-face or taken classes in person. With this new payment system, Teams is making it easier for small businesses to do it virtually.
“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,” Robinson added.
This feature also adds huge potential for small businesses to use this system for online classes, private networking events, and more. Meanwhile, for more personal one-on-one sessions, the company may later add a subscription option for users to easily subscribe to a class and pay through Teams.
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Microsoft’s video calling platform, Teams offers several features to improve user experience. The tech giant has now introduced a payment system inside Teams. This new system will allow small businesses to earn money from appointments, classes, one-on-one sessions, webinars, and more. Businesses in some markets that use Teams will now be able to collect payments during a meeting. Microsoft is making this service available for financial advisors, lawyers, instructors, tutors, and other small and medium-sized businesses (SMBs) to collect payments from virtual meetings.
According to a report by 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”. Moreover, over the past few years, users have also seen a significant change in how services are being offered online. This shift was due to the growth and ease of virtual meetings.
Microsoft Teams payments service: Availability
The new payments system in Microsoft Teams is designed to allow businesses to host webinars or one-on-one sessions and accept payments for them. The company has also partnered with GoDaddy, PayPal and Stripe to power this payment system. Microsoft is offering this service for free to Teams business users and is currently available only for users in the US and Canada. The Teams payments app is currently available only in public preview. Eligible users can install and configure it from Microsoft’s business AppSource store.
Microsoft Teams payments service: How will it work
The Microsoft Teams payments app can track money received by businesses and will also notify users if any amount is outstanding. This system will also offer options for customers to pay at any point during a meeting. Stripe and PayPal integrations are already available as part of a public preview, while GoDaddy payments are expected to arrive soon.
Read Also
Microsoft Teams payments service: How will it help
Robinson has also explained that earlier users had met their accountants face-to-face or taken classes in person. With this new payment system, Teams is making it easier for small businesses to do it virtually.
“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,” Robinson added.
This feature also adds huge potential for small businesses to use this system for online classes, private networking events, and more. Meanwhile, for more personal one-on-one sessions, the company may later add a subscription option for users to easily subscribe to a class and pay through Teams.
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