Clear Books has added an integration to Stripe for its financial management solution. Stripe is the third payments processing solution that Clear Books has integrated to, with PayPal and GoCardless the other two. Stripe is the second-largest payments processor in the UK (behind Paypal).
The integration enables Clear Books users to add a “Pay Now” button to invoices they send to customers. On receipt, customers can either pay the invoice from their mobile phone or desktop device. Customers can use either a credit or debit card; this speeds up the payment process and potentially improves cash flow. The invoice is marked as paid as soon as the payment is processed. This avoids any awkward conversation by any credit control team as payment information is immediately updated.
Enterprise Times asked some questions about the announcement. First, is it considering any other payment integrations? Violet Rahmani, Marketing Manager at Clear Books responded: “Not in the immediate future, but something that we are definitely considering.“
Other accounting platforms perform matching automatically for payment fees and currency differences. Does Clear Books do this too? “Yes – if it’s a Stripe payment via Clear Books invoices that would happen once the payment is made. If it’s an externally made Stripe payment, it’s automatically allocated once our user explains the payment itself within our system.”
Finally, Enterprise Times asked why Clear Books completed the integration. Rahmani answered: “A couple of reasons. One, Stripe is one of the most used payment processors in the market. Two, our customers have been asking for it, and we listened. Additionally in COVID times, this adds extra flexibility for our users as they adapt their business models.“
Enterprise Times: What does this mean
The immediacy of payment is important for small businesses during COVID-19. The integration also enables Clear Books to import and understand Stripe payment data from eCommerce sites. Clear Books can import Stripe data and bank transaction data simplifying the matching process.
Clear Books CEO, Ruth Fouracre said: “In May we launched a partnership with Revolut, in June we enhanced our mobile app to include interactive bank balance reporting, and today we are launching an integration with Stripe. The increased pace of new feature development at Clear Books is all about the customer – all our new features are to make Clear Books the easiest-to-use accounting software for small businesses. The integration with Stripe makes it easier for our customers to get paid, and easier for them to do their bookkeeping.”
From an idea posted seven years ago on its website, it has taken a while for Clear Books to complete the integration work. With customers looking to move away from the Clear Books as Stripe gained more traction in small businesses Clear Books has finally completed the integration work. This should help retain customers and also add new ones as small businesses turn to eCommerce to make payments easier for customers.