Xero and Paymark join forces to eliminate paper receipts

Xero and Paymark join forces to eliminate paper receipts

A clear step in establishing New Zealand as a leader in electronic business

AUCKLAND, 30 April, 2015 – At Xerocon Auckland today, Xero and Paymark announced that they are teaming up to eliminate paper receipts in New Zealand.

The Paymark EFTPOS network processes more than 75 per cent of all electronic transactions in the New Zealand retail market. Coupled with Xero’s 138,000 New Zealand business customers, the companies are well positioned to eliminate paper receipts to small businesses and consumers.

Xero and Paymark have been working in partnership on mechanisms to allow electronic receipts (eReceipts) to flow directly into accounting software and expect to have the service in market during 2015.

Rod Drury, CEO Xero says, “New Zealand is already the leading country in online business with around a quarter of small businesses already using Xero’s online accounting software and half the population using online banking.”

“We have a leading EFTPOS network and by working with Paymark we can dramatically reduce paper receipts and save small businesses money and time by accurately and automatically capturing expenses directly into the Xero platform.”

“Our vision for New Zealand is to be the world’s leader in electronic business and this is a clear example of how we can work together to make a real difference.” Drury adds. “We want this to be open and we are sure that other accounting and expense management vendors will leverage the work done by Paymark and Xero to fulfil our vision.”

Mark Rushworth, CEO of Paymark says the collaboration presents unlimited opportunity.

“Wouldn’t it be great if, as you leave a taxi, you could simply wave your bank card or phone over the EFTPOS terminal to complete the transaction, and leave knowing that your eReceipt is instantly expensed in Xero,” Rushworth says.

“Revolutionising the way we store and use receipts will streamline many processes. It means no more waiting for receipts only to put another piece of paper in your wallet that you’ll need to do something with later. eReceipts will undoubtedly result in increased productivity for businesses.”

About Xerocon

Xerocon is the largest accounting conference in New Zealand and fast becoming one of the biggest industry events in every major market where Xero operates, including Australia, the UK and the US. The event is attended by more than 1000 accountants, bookkeepers, and financial professionals and 35+ exhibitors. Keynote speakers at this year’s event include Xero CEO Rod Drury; Victoria Crone, Xero NZ Managing Director; Hon Bill English, Deputy Prime Minister and Minister of Finance; Gerhard Vorster, Chief Strategy Officer, Deloitte; Linda Jenkinson, Entrepreneur; Andy Lark, Xero CMO; and Graham Lowe. The Premier sponsor for 2015 is NZI.

For more information visit the Xerocon website.

ENDS

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