Microsoft continues to improve Microsoft Teams, a communication and collaboration platform which recently received performance improvements and optimization. Now, Microsoft is offering an in-app payment functionality in partnership with GoDaddy, PayPal, and Stripe which allows users to charge for business services like appointments, webinars, and classes. It’s currently live in North America and Canada within Teams and will expand to other regions.
This feature will help small to medium businesses (SMBs) get benefits such as financial advisors, lawyers, tutors, and instructors who provide services remotely, and Microsoft Teams makes it easy to receive payment from their clients. With Microsoft Teams, you can handle a large number of attendees, which makes it ideal for SMBs to conduct online classes and private networking events.
Microsoft Teams allows you to receive payments directly within the Teams app during virtual meetings
After COVID-19, there has been a massive rise in the growth of online services, and with the recent significant change in how services are provided online and shifted to virtual meetings, SMBs have adapted their operations in order to keep up with the trend. Many companies are becoming more tech-savvy, which means they embrace technology more to improve their business operations and productivity. Since the beginning, Microsoft Teams has aimed for businesses, and with this update, the company is now offering more flexibility in the use of Microsoft Teams.
All businesses that offer online services through Microsoft Teams, with this in-app payment integration, will provide more services online and will engage with their customers remotely. Traditional small businesses rely on face-to-face interaction with clients, but online meetings have a different vibe all around. Microsoft wants to make it smooth and wants to transform with the power of digital technology and how they are changing the way small businesses operate and connect with their customers.
SMBs can accept online payments without any additional fees
It will enable small businesses to offer webinars or one-on-one sessions and accept payment within the Teams platform. Also, the service doesn’t include any charge for Teams business users. This will potentially increase reliance on Microsoft Teams for their business. There are more than 280 million monthly active users of Teams, and users can make payments with a credit or debit card, or digital wallet, and more. It will even work on mobile, and will expand functionality to have meetings between organizers and single attendees, but it is still recommended to set up on a desktop computer for payments to be available.
Teams also has the ability to track payments of received or outstanding payments during meetings. Customers can make any payment during meetings, and the payment begins processing with Stripe and PayPal at this time, while GoDaddy payment integration will be added soon. It’s currently in public preview (Download and install Configure from MS Business AppSource Store), so it may take some time before everyone will be able to use this. With such partnerships, it will be easier and more secure for payment transactions, enhancing the overall user experience and their client.
Microsoft is also considering adding a subscription option in the future. With this, users can have a monthly subscription to the class and pay for it through Teams. This also helps the company in interesting continuing to develop the payment system to help SMBs better engage with their customers.
