Microsoft has announced support for payments from within the Teams video conferencing platform which it hopes will enable SMBs to collect payments for their online meetings more seamlessly.
The launch of the Teams Payments app (opens in new tab), which is currently in public preview for users in the US and Canada, comes as part of a partnership between Redmond and top payment providers GoDaddy, PayPal, and Stripe.
Microsoft says the launch will allow it to target the 11 million SMBs that currently use its services.
Take payments with Microsoft Teams
Aiming to supersed competing scheduling software and payment gateways, Microsoft now lets its users handle most aspects of the interaction directly from inside the single app.
The announcement (opens in new tab) describes a lawyer or financial advisor, who will now be able to receive payments for consultative appointments without needing to rely on third-party software. Businesses operating entirely virtually could see the need for a dedicated payment platform diminish altogether.
Teams Payments also looks to be a promising tool for sole traders and contractors, such as those working in the health and fitness industries.
For the customer, it’s likely to prove a much slicker transaction. The business owner will still need an account with one of the three initial launch partners to be able to process the transaction.
Microsoft’s roadmap to full general availability is unclear, but for now, the public preview is available for Teams Essentials ($4 per month) and Microsoft 365 business (from $6 per month) subscribers as part of their existing package, making it an incredibly affordable way to take payments.
It’s worth noting that while the payment platforms don’t charge a membership fee, transactions are subject to fees as usual. Day-one users will also only be able to use PayPal and Stripe: despite the GoDaddy partnership, support for that platform is “coming soon.”