Microsoft Teams Enables Real-Time Payments with Stripe Partnership

Stripe will provide payment services for Teams, Microsoft’s platform for business communication and collaboration.

In a collaboration between Microsoft and Stripe, North American businesses can now receive payments directly through Microsoft Teams.

This new development will allow meeting hosts to receive payments in real-time using credit cards during virtual events such as appointments, classes, and other events. Additionally, businesses can request advance payment as a condition for joining a Teams session.

To help merchants receive payment, Stripe will take care of the onboarding process when they sign up for Teams Payments. After payment is made, Microsoft will use Stripe Connect to transfer the funds from customers to merchants.

An example of how this can be used is for an online yoga instructor who can request payment from students within a Teams chat.

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Mike Clayville, the chief revenue officer at Stripe, states that “our partnership with Microsoft will bring Stripe’s payment capabilities into one of the most popular collaboration platforms in the world, helping millions of businesses increase their online revenue growth.

With Stripe, businesses can accept payments as easily as they launch a video conference, chat, or virtual presentation within Microsoft Teams.”

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