Xero's Tap to Pay Feature

anytimeassist
Apr 8
2 min read

In today's fast-paced business environment, providing customers with quick and convenient payment options is essential. Xero's Tap to Pay feature offers Australian businesses an efficient way to accept in-person contactless payments directly through the Xero Accounting app, eliminating the need for physical terminals and reducing administrative tasks.

What is Tap to Pay?

Tap to Pay is a functionality within the Xero Accounting app that enables businesses to accept contactless payments on the spot. Customers can pay using physical cards, digital wallets, or wearable devices like smartwatches. This feature is powered by Stripe, a trusted payment processing platform, ensuring secure transactions.

Key Benefits of Tap to Pay

Immediate Payments: Accept payments as soon as the work is completed, reducing the time spent chasing outstanding invoices.
No Additional Hardware: Process payments directly through your mobile device without the need for separate terminals.
Seamless Integration: Payments are automatically recorded in Xero, marking invoices as paid and ready for reconciliation, thereby minimising paperwork and administrative tasks.
Enhanced Customer Experience: Offer clients a convenient and secure way to pay using their preferred contactless method.

How to Use Tap to Pay

Set Up: Ensure you have the Xero Accounting app installed on your mobile device and connect a Stripe account.
Create an Invoice: Within the app, generate a new invoice or select an existing unpaid invoice.
Accept Payment: Tap 'Take payment' and allow the customer to pay using their contactless card, digital wallet, or wearable device.
Send Receipt: Optionally, send a receipt to the customer after the payment is processed.
Reconciliation: The invoice is automatically marked as paid in Xero, making it ready for reconciliation.

Fees and Requirements

Setting up Tap to Pay involves no sign-up, setup, or monthly costs. Transaction fees are 1.7% + A$0.25 per transaction for domestic cards (including GST) and 3.5% + A$0.25 per transaction for international cards. To use this feature, you'll need a Stripe account and the Xero Accounting app on your mobile device. Tap to Pay is available for businesses with compatible Android and Apple devices.

Conclusion

Xero's Tap to Pay feature empowers Australian businesses to accept in-person contactless payments effortlessly, enhancing cash flow and reducing administrative burdens. By integrating this feature into your payment process, you can provide a seamless and professional experience for your customers while streamlining your financial operations.