Capital One, a major U.S. bank has partnered with Xero’s cloud accounting platform. The deal to allow Capital One’s credit card feed was signed in May, and went live last week.
The goal for the partnership is to expand Xero’s presence with smaller banks and penetrate the smaller local markets, according to Ryan Himmel, financial partnerships lead for Xero. The way the credit card feed works, Himmel explained, is that by using a direct secure integration with Capital One’s new API, small businesses will be able to connect their Capital One card data with Xero, thus giving users an on-demand view of their financial profile.
