1 Apr 2014

Xero announces Square integration

7:00 pm on 1 April 2014

Xero plans to integrate its software in the United States with Square, a company which provides payment systems.

The accounting software firm on Monday announced its alliance with big-four accounting firm KPMG in Britain.

Xero on Tuesday said its accounting software and Square's transaction systems would enable customers of both companies to seamlessly link their Xero and Square accounts.

Craigs Investment Partners head of wealth research Mark Lister said it was impossible to quantify the importance of the latest linkup.

"Well I think it's just another incremental step in Xero's plan to enter and grow in that US market," Mr Lister said.

"Square is not a company that many people will probably be aware of here in New Zealand but it has been around for a few years and does feature a few of those movers and shakers from the US tech scene."

The announcement was light on detail around what it would mean in terms of earnings or growth but it was another piece of evidence that the product was appealing to some offshore players, he said.