Xero names eWAY as its partner of the year

Accounting software outfit Xero has awarded Canberra-based payment services company, eWAY as its partner of the year.

The award follows last year's collaboration where the two companies partnered to introduce a single click, 'pay now' option on invoices.

Xero founder and CEO Rod Drury said: "The partner awards are an opportunity for us to acknowledge and celebrate organisations for the outstanding and innovative provision of services that support the Xero platform."

CEO and founder of eWay, Matt Bullock, said the two companies shared a customer-focused approach to business, "and we're committed to working together to ensure our respective and collective technologies assist customers to grow their businesses".

He described the integration of the eWay and Xero solutions as a gamer changer as it enabled businesses to greatly reduce their receivable days through real-time payments.

The company claimed that in just six months, eWAY's services have helped the 250,000 Xero users to decrease debtor days from an average of 44 to 28 days. Meanwhile, eWAY said it had experienced a 20 percent increase in the value of online payment transactions in the past year and now processes $4 billion of cash receipts.