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1. Multicurrency- Batch payments of Foreign Currency Bills.

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   175 comments  ·  For small businesses » Accounting features  ·  delete…  ·  Admin →
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   working on it  ·  AdminKelly Munro (Community Manager, Xero) responded

   Hi team, appreciate wanting an update - I'm pleased to share the beta went well and we've now launched international bill payments for our UK customers, making it easier to pay overseas suppliers.

   Using open banking, UK businesses can now securely send money to 180+ countries including Europe (EUR), America (USD) and Australia (AUD). So you don't have to juggle multiple platforms or hidden fees. Whether you're paying a single bill or multiple bills at once, you can authorise payments prepared by your team and easily track which suppliers have been paid.

   We’re committed to new ways to expand our bill payments feature for small businesses and their advisors in other regions by leveraging new technologies, where available. I'll keep you updated of any further developments for this, here.

   Sandrine BONIFACE supported this idea  ·  01 November, 2024

2. Multicurrency - Support for new currencies & Bitcoin

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   56 comments  ·  For small businesses » Settings & user roles  ·  delete…  ·  Admin →
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   submitted  ·  AdminMark Blundell (Admin, Xero) responded

   Hello I am the product manager for the group within Xero which looks after the currency capability.

   I follow the digital currency space closely, I find it incredibly interesting both sociologically as well as technically. However as a product manager my role is to ensure that my engineering group works on the things that create the most value, for the most people, and in alignment with the company's long term goals and aspirations.

   Digital currencies continue to have an extremely passionate, but also extremely small group of users who want to see them handled in Xero. The cost remains very high for us to deliver this feature, and does not make a difference to enough peoples lives to justify that investment. There are a lot more touchpoints than many people appreciate to implement crypto properly. Huge decimal precision, UX, currency rate feeds, revaluation logic, reporting - all need changes to support this in the way that needs to be done to allow proper accounting.

   Digital currencies aren’t prioritised in the next year, but our group is working on other initiatives which lay the groundwork so that in the future I truly believe we will be able to justify working on crypto, and that what we produce will be world class.

   I continue to monitor this thread and I look forward to sharing news that is more in line with what you hope for in the future.

   Hello I am the product manager for the group within Xero which looks after the currency capability.

   I follow the digital currency space closely, I find it incredibly interesting both sociologically as well as technically. However as a product manager my role is to ensure that my engineering group works on the things that create the most value, for the most people, and in alignment with the company's long term goals and aspirations.

   Digital currencies continue to have an extremely passionate, but also extremely small group of users who want to see them handled in Xero. The cost remains very high for us to deliver this feature, and does not make a difference to enough peoples lives to justify that investment. There are a lot more touchpoints than many people appreciate to implement crypto properly. Huge decimal precision, UX, currency rate feeds, revaluation logic, reporting - all need changes to… more

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   Sandrine BONIFACE commented  ·  25 June, 2022  ·  Edit…  ·  delete…

   90% of my clients trade crypto with differents Wallets....

   Save Submitting...