On 7th July 2014, MYOB announced the launch of a new credit card reader for its popular mobile payments solution 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. 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,” stated General Manager, Connected Services Andrew Birch, in a press release. “This means around 5.13 million Australians aged 16 and over could potentially be walking away from a sale or service every month,” he added.
- MYOB states that the new card reader supersedes the current MYOB PayDirect audio jack card reader and is compliant with mandatory chip and PIN card payment authorisation from 1 August 2014.
- Existing PayDirect clients will receive the new device at no extra charge.
- MYOB PayDirect turns SMEs’ smartphones into quick, easy payments terminals.
- It offers deep integration with popular cloud accounting solution AccountRight so payments are automatically entered into clients’ books.
- It also enables receipts and invoices to be delivered to their customers on the spot.
- MYOB PayDirect is based on Mint Wireless’ Minterprise, a flexible and highly customisable 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 payments compatibility will follow over subsequent months, according to the release.
“An increasing pressure for many SMEs is managing cash flow. 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,” added Andrew Birch. “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,” commented Tony Wu, One of the co-founders of Victorian-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.”
Established in 1991, MYOB is Australia’s leading accounting software provider. It makes life easier for approx. 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 ongoing innovation, particularly in cloud computing solutions, and spends more than AU$35 million annually on research and development.