Microsoft continues to improve. Microsoft Teams, a communication and collaboration platform, recently received performance improvements and optimizations. Microsoft is now offering in-app payment functionality in partnership with GoDaddy, PayPal, and Stripe, allowing users to charge for business services like appointments, webinars, and classes. It lives within Teams in North America and Canada 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. Microsoft Teams makes it easy to receive payment from their clients. With Microsoft Teams, you can handle many attendees, making it ideal for SMBs to conduct online classes and private networking events.
Microsoft Teams lets you 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. With the recent significant change in how services are provided online and shifted to virtual meetings, SMBs have adapted their operations to keep up with the trend. Many companies are becoming more tech-savvy and embracing technology to improve their business operations and productivity. Since the beginning, Microsoft Teams has been aimed at businesses, and with this update, the company is now offering more flexibility in using Microsoft Teams.
With this in-app payment integration, all businesses that offer online services through Microsoft Teams will provide more services online and engage with their customers remotely. Traditional small businesses rely on face-to-face client interaction, but online meetings have a different vibe. Microsoft wants to make it smooth and transform with the power of digital technology and how they are changing how small businesses operate and connect with their customers.
SMBs can accept online payments without any additional fees.
Small businesses can offer webinars or one-to-one sessions and accept payment within the Teams platform. Also, the service does not include any charges for Teams business users. This could increase their 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, a digital wallet, and more. It will even work on mobile and expand functionality to have meetings between organizers and single attendees. However, it is still recommended to set up a desktop computer for payments to be available.
Teams can also track payments received or outstanding 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 is currently in public preview (download and install Configure from the MS Business AppSource Store), so it may take some time before everyone can use it. Such partnerships will make payment transactions more manageable and secure, enhancing the user’s and their client’s overall experience.
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 by continuing to develop the payment system to help SMBs better engage with their customers.