Stripe is for any online commerce or business that requires online payments.
Hundreds of thousands of businesses—ranging from startups to Fortune 500 companies—rely on Stripe’s software tools to securely accept payments. Stripe offers fraud protection tools powered by advanced machine learning algorithms to help you detect and prevent fraud. You can also take advantage of Stripe’s rich, third-party ecosystem with hundreds of integrations ranging from tools for email alerts, shipping, ERP, and more.
Stripe + Xero
Stripe makes it simple for businesses using Xero to get paid faster. Stripe and Xero together allows business owners to accept payments from their customers via credit card, debit card or ACH bank transfer.
Stripe processes all transactions for you. Once your Stripe account is integrated with Xero, you can accept payments immediately.
When will I Get Paid
Funds are added to your bank account on a seven-day rolling basis. A two-day payout schedule may be possible after your first payout – you can set the frequency of the payouts in the Balance tab of your Stripe dashboard. From there, you can also view all payouts from Stripe to your bank account.
It is important to know that due to ‘Know Your Customer’ financial regulations there is a mandatory 7-10 day period to receive your first payment from Stripe. For example, UK payments are received on a 7-day rolling basis i.e. payments received on a Tuesday are paid out by the following Tuesday. Other countries use different payment schedules.
Stripe and Xero Reconciliation
When a Stripe payout comes in through your bank feed, Xero will do the matching work for you. All the transactions in Xero tied to the Stripe statement line will be automatically matched against it. Say goodbye to tracking down a ton of payments and fees included in a daily, weekly or monthly Stripe payout.
You can use Stripe with Xero in any country where Stripe is supported, and you have an active bank account.