Microsoft has partnered with payment services platform Stripe to enable users to accept payments directly in Microsoft Teams.

Teams Payments will allow hosts of meetings to receive real-time card payments during virtual appointments and events. Businesses using the service will also be able to set advance payment through Stripe as a requirement to join a Teams meeting.

Stripe said the service will streamline payment acceptance and identity verification. The company will also handle onboarding requirements to ensure merchants can get paid.

Teams Payments is currently available in the US and Canada. Neither party has disclosed plans to expand the service outside of North America.

Stripe claims that 93 per cent of businesses have problems with late payments from customers, which can negatively affect cash flow. It added that once the transaction is complete, merchants will be able to access funds almost immediately.

“We’re thrilled to partner with Stripe to help unlock new revenue streams for companies on Teams Payments,” said Brenna Robinson, general manager, SMB, at Microsoft. “Our collaboration with Stripe allows us to better serve our customers, deepen the impact of Teams, and boost revenue growth.”

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