UK Small Businesses Get Paid Faster and Save on Fees with Instant Bank Pay

London-based open banking payments provider Atoa announces a new integration with global small business platform Xero, which offers fast, fair and secure invoice payments for UK small businesses. 

This new integration will enable customers to attach Atoa as the payments provider and add a “Pay with Bank App” button on Xero invoices for their customers to pay directly from their bank app or online banking. Payments are automatically synced in Xero, saving businesses time on admin whilst also helping them save up to 50% on processing fees versus other providers.

Key benefits of connecting Atoa with Xero include:

• Faster payments: Invoices are paid from the recipient’s bank app without entering payment details, leading to quicker and more convenient invoice payments.
  
  
• Much lower fees: Rates start from 0.7% per transaction plus 10p on each Xero invoice payment, saving businesses up to 50% on processing fees. Note that custom pricing is available for larger clients.
  
  
• Better cash flow: Get invoice payments in seconds, not days. Faster payouts give businesses easier access to valuable cash flow.
  
  
• Reduced admin time: Payments sync with Xero, saving time spent on manual reconciliation.
  
  
• Quicker for clients: Paying invoices by bank app offers a convenient, one-click payment option for clients.
  
  

Sid Narayanan, CEO of Atoa comments: “Atoa’s new integration with Xero makes it easier and more cost effective for UK businesses to collect payments through invoices. It also frees up valuable time and resources that can be better spent on accelerating growth.” 

The Atoa and Xero integration is now available to all Atoa users in the UK. For more information, please visit Atoa on the Xero App Store.