On 7th July 2014, MYOB announced the launch of a new credit-card reader for its popular mobile payments offering MYOB PayDirect. The advanced card reader accepts payments from”chip and pin” as well as ”swipe and pin” credit cards. “MYOB PayDirect has been a huge success in making business life easier by helping SMEs to improve their cash flow,” stated Andrew Birch, MYOB’s general manager of connected services, in a press release. “The app has been downloaded more than 3,500 times since its release in April this year. 64% of Australian consumers prefer to pay for goods or services via card. More than half have walked away from a sale or service because they couldn’t pay via card.This means around 5.13 million Australians aged 16 and over could potentially be walking away from a sale or service every month.”
- MYOB says the new card reader supersedes the current MYOB PayDirect audio-jack card reader and complies with mandatory chip-and-PIN card-payment authorization in Australia, which begins 1 August 2014.
- Existing PayDirect clients will receive the new device at no extra charge.
- MYOB PayDirect turns SMEs’ smartphones into quick, easy payment terminals.
- It offers deep integration with popular cloud accounting solution AccountRight so that payments are automatically entered into clients’ books.
- It also enables receipts and invoices to be delivered to SMEs’ customers on the spot.
- MYOB PayDirect is based on Mint Wireless’ Minterprise, a flexible and highly customizable corporate payments solution for banks, telcos, airlines, manufacturers, retailers and ERP software companies.
- Integration with the MYOB Essentials cloud accounting range and many additional features, such as EFTPOS and contactless-payment compatibility, will follow over subsequent months, according to the release.
“An increasing pressure for many SMEs is managing cash flow,” Birch said. “Burgeoning smartphone and tablet penetration, coupled with the advent of easy-to-use mobile payment innovations, such as MYOB PayDirect, can really help remedy cash-flow challenges facing many SMEs today. The streamlined application process, affordable monthly payment plans and no lock-in contracts make PayDirect a must-have solution for all mobile businesses – from tradies to beauty therapists, and accountants to personal trainers. In the next few years, accepting credit and debit payments via mobile devices could become as everyday as visiting an ATM.”
“We utilise traditional [tailor] methods but we can bring it and mix it into modern day flow. Utilising technology and utilising these aspects, we’re able to combine the two and understand how we get the best of both worlds and then provide the best experience,” said Tony Wu, one of the co-founders of Victoria-based bespoke men’s shirt maker Saibu No Akuma, in the same release. “When we say we can take credit card payments and show MYOB PayDirect, it adds to the value proposition of customer experience.”
About MYOB Established in 1991, MYOB is Australia’s leading accounting-software provider. It makes life easier for approximately 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, CRM, websites, job costing, practice management, inventory, mobile payments and more. MYOB also provides ongoing client support via many channels, including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to innovation, particularly in cloud computing, and spends more than A$35 million annually on research and development.