KASHFLOW PARTNERS WITH PAYPAL TO LAUNCH UNIQUE WEB-BASED ACCOUNTING SOFTWARE PACKAGE Wednesday 28 May 2008 PDF Print KashFlow, the accounting software company, and PayPal, the leading online payment provider, have linked up to provide a fully automated web-based accounting and payment integration package. The package is the first of its kind and means small business owners who run online retail sites or eBay shops will now have an automated and seamless online process for logging sales on their accounting software. KashFlow is an online tool specifically designed to help SMEs manage their accounts. The software has been built by small business owners for small businesses and offers a range of services including invoicing, cashflow management and VAT reports. Since its launch KashFlow has quickly won a significant share of the accounting software market as well as launching a direct to accountant division. PayPal enables any individual or business with an email address to send and receive payments online securely, easily and quickly. In 2007, PayPal processed more than $47 billion in total payment volume, up 33% year on year and the total payment volume for PayPal Merchant Services was $6.1 billion in Q4 2007, up 66% year over year. PayPal has over 141 million accounts worldwide and supports payments from 190 markets in 17 global currencies. By partnering with PayPal KashFlow users can now include “Pay Now” buttons on their invoices that link directly to their PayPal accounts as standard. There is also the ability to import payment information from PayPal directly into KashFlow at the click of a button. Chairman of KashFlow and former Secretary of State for Trade and Industry Lord Young of Graffham said, “This is an exciting announcement and there is a great deal of synergy between the two brands, the demonstrated ability to be able to predict and be prepared for future market trends along with the fact that we have both won awards that have been chosen by our users rather than a judging panel. “To get the chance to partner with such a globally renowned brand such as PayPal not only demonstrates how far KashFlow has come as a business, but also speaks volumes about the team behind the company and of whom I am immensely proud”. Cameron McLean, General Manager of Merchant Services, at Paypal comments, “We are delighted to have partnered with KashFlow who like PayPal, have a strong foothold in the SME market and offer PayPal a great way to reach a significant audience.” “Enabling small businesses to link directly to PayPal accounts at the click of a button not only offers convenience but helps safeguard against sales data being lost or entered incorrectly due to human error. In addition a number of SMEs that use KashFlow are also PayPal customers saving business a huge amount of time.” - Ends – - Notes to editors: * PayPal can increase sales by an average 14% by delivering greater shopping convenience. A 2006 PayPal survey of 200+ US sellers who were already accepting credit cards online, but added PayPal showed that PayPal generated an average incremental sales lift of 14%. ** PayPal Express Checkout has a 72% conversion rate, converting more browsers to buyers. Based on PayPal analysis conducted in Q2 2007 on Top 100 PayPal merchants in UK and US combined (in terms of volume), using the Express Checkout payment mark. *** According to independent Forrester research, 23% of European online shoppers prefer paying with PayPal. For further information please contact: firstname.lastname@example.org 020 7566 9777 Sophie Lilley / Helen Thomson / Laura Moss / Neil Gregory / Louise Bromley - Lansons Communications KashFlow, Andy Barr, 10 Yetis Public Relations, Andy@10yetis.co.uk, 01452 527898 or, Emma Stockley, email@example.com. About KashFlow KashFlow launched its flagship product; an online tool specifically designed to help owner-managers in small businesses manage their accounts, in mid 2005. Since that time it has quickly won a significant share of the valuable accounting software market along with launching a new direct to accountant division in late 2006. In late 2007 KashFlow won a Business Software Satisfaction Award, judged entirely by customer feedback, for the category of web-based accounting beating the likes of Sage and Netsuite. The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk . The site also displays examples of feedback from actual users. In 2007 KashFlow won a Sift Media award, judged entirely by customer feedback, for the category of web-based accounting beating the likes of Sage and Netsuite KashFlow has received two rounds of venture capital funding from Lord Young of Graffham, former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless. Journalists can subscribe to a KashFlow press release and media announcement newsfeed by visiting the following link and clicking the RSS feed icon. http://www.kashflow.co.uk/pressroom.asp About PayPal Thousands of merchants accept PayPal today from their websites, including leading e-commerce sites such as Boots, DHL, Harrods, Friends Reunited, New Look and eBay. PayPal also supports payments for Monarch Airways with a payment solution for flight bookings. With PayPal, merchants can sell their goods to the tens of millions of proven online shoppers that prefer PayPal***, often seeing a reduction in shopping cart abandonment therefore increasing sales conversion. PayPal is a safer, easier way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts or account balances, without sharing financial information. With more than 141 million accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. More information about the company can be found at https://www.paypal.co.uk or https://www.paypal-press.co.uk This press release was distributed by ResponseSource Press Release Wire on behalf of 10 Yetis PR and Marketing in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.