Small Businesses in the US and Canada Now Have Access to Microsoft Teams’ New Payments App

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  • Microsoft’s Teams platform has introduced a new payment system to allow small businesses in the US and Canada to earn money from virtual meetings, classes, webinars, and one-on-one sessions.
  • The payments app will enable businesses to collect payments during meetings and is available for free to Teams business users.
  • The app is currently in public preview and can be configured from Microsoft’s business AppSource store.
  • The payment system is designed to be easy to use and can track money received by businesses, offering options for customers to pay at any point during a meeting.
  • Microsoft has partnered with GoDaddy, PayPal, and Stripe to power the payment system.
  • The new feature is expected to be useful for financial advisors, lawyers, instructors, tutors, and other small and medium-sized businesses.
  • Users will also be notified if any amount is outstanding, and Stripe and PayPal integrations are already available as part of the public preview, with GoDaddy payments expected to arrive soon.
  • The payment system is aimed at making it easier for small businesses to conduct virtual meetings and provide online services, and it adds huge potential for small businesses to use this system for online classes, private networking events, and more.
  • The service is currently only available for users in the US and Canada, but the company may later add a subscription option for users to easily subscribe to a class and pay through Teams.
  • According to Microsoft 365 small and medium businesses’ general manager, the pandemic has changed the game, and small businesses have now become more tech-savvy and are pivoting to virtual meetings to conduct business.