The companies announced news on Wednesday (May 23) that Sage is integrating PayPal into its platform, enabling companies using Sage 50cloud to pay invoices with PayPal; companies can begin accepting payments from their business customers that pay with PayPal by creating a PayPal business account.
In its announcement, Sage pointed to its own research that found small businesses spend up to 120 days on admin and as much as 15 days chasing late payments. More than a tenth of all invoices issued by small businesses around the world are paid late. Sage noted that its integration with PayPal can help reduce the time it takes for SMBs to get paid.
“Our partnership with PayPal is another great example of how we can support businesses who want simple, accessible and flexible ways of managing money,” said Sage EVP of Global Payments and Banking Seamus Smith in a statement. “We have created a partnership with a world-leading payment provider to offer a secure and easy way for customers to pay by adding a ‘pay now’ button to invoices. I’m excited about the potential opportunities provided through this partnership to further drive customer success.”
“For small businesses looking to grow, time and money are both paramount,” added PayPal Senior Director of Small and Medium Business and Partnerships Nicola Longfield. “PayPal has the solution to support a business with payments online, on a mobile device, in an app or in person, and our integration with Sage continues our commitment to create better ways to manage and move money … [while] offering choice and flexibility when making payments or getting paid.”
Sage noted the integration is currently available for business customers in the U.S., U.K., Canada and Germany.
PayPal has made similar partnerships in the past; in 2016, the company struck a deal with small business accounting platform Xero, which also sees invoices generated through Xero ready to be paid via PayPal. PayPal also made another agreement that year with Reckon, since acquired by Xero rival MYOB, to facilitate invoice payments with a Pay Now button.