Mobile payment technology company Sniip is taking real-time billing to small and medium-sized businesses for the first time through a new arrangement with online accounting software company Xero.

Co-founder and Chief Executive Officer of Sniip, Damien Vasta, said the company was excited about the agreement which would provide a central, secure and organised way for Xero’s customers to receive, view and pay bills.

“Working with Xero presents an exciting opportunity to bring the benefits of real time billing and bill payment to the SMB space,’’ Mr Vasta said.

“The new Sniip platform will be available to Xero’s vast customer network, allowing transactions to integrate with their accounting system in real time.”

Mr Vasta said the collaboration would utilise new blockchain technology to offer an unprecedented level of security and flexibility, allowing billers to access and easily push billing notifications to users.

Sniip offers substantial benefits to billers including cost savings over incumbent payment methods, quicker payments and conversion to paperless bills via an in-app notification to users.

“Users can scan and pay their bills within seconds using Sniip’s trademarked circular QR code, eliminating the need to enter a long account or payment reference number or bank details or waste time paying over the phone.

“Mobile payments have become a hugely popular method of making both discretionary and non-discretionary payments.

“The Sniip integration makes payments easier and safer on a mobile, allowing customers to manage their bills more efficiently in-app and simply reducing instances of misplaced bills, forgotten emails and late payment fees,’’ Mr Vasta said

Sniip has developed a speedy and safe method for making a payment – either by scanning the circular QR code on the bill or by electing to receive a bill directly into the Sniip app via a push notification.