Xero and Stripe — two cloud software application companies backed by PayPal co-founder Peter Thiel — are linking up to create tighter integration between their services.
Under the new relationship, small businesses that use the Xero accounting software to keep their books and manage financial information can now accept online payments more readily using the Stripe processing service, which makes it simpler to receive online credit-card payments and other electronic transactions through Web sites.
Existing Stripe customers that don't already use Xero will get a free 60-day trial subscription to the service.
It's just the latest in a string of integration relationships announced by Xero creating more value around the small business accounting service, which is used by more than 150,000 paying customers around the globe.
Recognizing that ensuring prompt payments is a perpetual challenge for small companies, Xero is also partnering with DPS Payments and GoCardless to bring similar services to companies outside the United States.
Caitlin MacGregor, co-founder of Cream.hr, underscored the importance of online payment systems for startups, entrepreneurs and small companies:
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