Businesses using Microsoft Teams can now accept payments with Stripe.
With Stripe powering Teams Payments, meeting hosts can accept real-time card payments before, during or after virtual appointments, classes and other events, the companies said in a Monday (May 1) press release.
“We’re thrilled to partner with Stripe to help unlock new revenue streams for companies on Teams Payments,” Microsoft General Manager, SMB Brenna Robinson said in the release. “Our collaboration with Stripe allows us to better serve our customers, deepen the impact of Teams and boost revenue growth.”
In this partnership, Stripe Connect streamlines payment acceptance and identity verification for transactions in Teams, handling the onboarding requirements to help meeting hosts get paid, according to the press release.
These new capabilities join the video conferencing, voice, messaging and other embedded tools that Microsoft Teams offers to businesses, the release said.
“Our partnership brings Stripe into one of the world’s most popular collaboration platforms and will help millions of companies accelerate their online revenue growth,” Stripe Chief Revenue Officer Mike Clayville said in the release. “With Stripe, more businesses can now accept payments as easily as launching a video conference, chat or virtual presentation within Microsoft Teams.”
Stripe’s businesses processed more than $817 billion in 2022, a figure that was up 26% from the previous year, the payments company said April 5 in its annual user letter.
“This is a significant deceleration from the breakneck growth that we saw during 2020 and 2021,” co-founders and brothers Patrick Collison and John Collison wrote in the letter. “At the same time, we are as confident as ever in the internet economy’s long-term prospects, and we’re heartened by the steady advancement of the millions of businesses we serve in the face of banking crises, war, pestilence, energy shocks, supply chain issues, inflation and broader volatility.”
Its partner in this new offering is growing too. The use of Microsoft Teams is at an all-time high, having surpassed 300 million monthly active users during the most recent quarter, Microsoft Chairman and CEO Satya Nadella said Tuesday (April 25) during the company’s quarterly earnings call.
“With a new version twice as fast and using half the power, Teams is also expanding our TAM [total addressable market],” Nadella said at the time.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More