Microsoft is launching a Teams Payments app intending to help small and medium businesses (SMBs).
SMBs can now manage and collect payments for the products and services they provide over Teams — including classes, webinars and appointments — during conversations within the Teams platform. Microsoft has partnered with Stripe, PayPal and GoDaddy to support Teams Payments with commerce features.
Alberto Martinez-Interiano, Product Marketing Leader at Microsoft, wrote in a blog post:
For example, a lawyer or financial advisor can collect payments for consultative appointments, a real estate instructor can do the same for license-renewal sessions, or a teacher for tutoring classes—all while the customer is engaging with them.”
The solution is usable via desktop and mobile and is now in public preview in the Teams Store. It will be available for Teams Essentials and Microsoft 365 business subscribers at no extra charge. It is currently exclusive to the United States and Canada.
Partnerships Key to Payments App
Partnering with some of the most significant vendors in internet payments enables Microsoft to fuse the collaboration capabilities in Teams with the cutting-edge commerce technology that GoDaddy, PayPal and Stripe can offer.
Martinez-Interiano said the Payments app aspires to “increase your revenue and make it even easier for customers to interact with you.”
After a user configures the Payments app into their platform, they can connect to their GoDaddy, PayPal or Stripe account(s). They can then send a payment request to customers mid-meeting with just a few clicks. Customers can also remit payments using their credit or debit card, digital wallet, and more.
The app includes an at-a-glance view of payments feature, allowing users to see what payments have been received and those still outstanding from customers.
“Small businesses continue to face many, many challenges,” said Bernardo Martinez, Vice President of Microbusiness at PayPal. “Whether dealing with a cash flow crunch, finding new customers, or expanding to new channels, small businesses need partners to help them solve these problems. Our collaboration with Microsoft allows us to address a common pain point—accepting payments for virtual customer interactions—by providing them with a trusted method that both consumers and businesses know well.”
A Busy Time for Teams
Although Teams is always updated regularly, the Payments app launch is the latest in a particularly busy period for the platform.
Teams introduced a raft of new features in its April update, including the automatic lowering of a user’s hand after speaking and green screen integration.
Also among the wave of capabilities was echo detection and automatic muting of nearby Teams devices that create an audio feedback loop. Closed Captions was enabled for embedded videos in PowerPoint Live for Teams. Microsoft Teams Auto Install Approved Apps aimed to enable admins and users to streamline the management of apps within their businesses.
Last month, Microsoft added Snapchat Lenses to Teams to allow meeting participants to express themselves creatively mid-call. Microsoft partnered with Snap to leverage their Camera Kit SDK capabilities, allowing Microsoft to integrate 26 Snapchat AR Lenses into Teams without requiring a separate add-on.
In February, Microsoft announced several AI-powered features to the newly-revealed Teams Premium service, including its Intelligent Recap, Live Translation and Meeting Templates capabilities.
