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MYOB extends range of on the go payment solutions

Latest MYOB Business Monitor findings show that almost half of all small-medium businesses are taking payments on the road

Australia’s leading accounting software provider, MYOB has announced that its popular mobile payments solution, MYOB PayDirect now accepts EFTPOS payments.

MYOB PayDirect’s popularity has been driven by being the only mobile payments solution with accounting software integration available in Australia. MYOB General Manager, SME Solutions, James Scollay says this new feature will further increase its appeal.

“We know that EFTPOS transactions are the most common type of card transactions in Australia. We also know that many consumers prefer to use their own money to pay for everyday items, rather than using a credit card.*

“The uptake of MYOB PayDirect has been encouraging so far. We’ve seen thousands of PayDirect app downloads and have received really positive feedback from users, with an average iTunes customer rating of 4.5 stars.

“MYOB is committed to making PayDirect the best solution in the market. No annual subscription fees make it really easy to get up and running and with reduced merchant transaction fees, our customers can keep more of the money they make,” Scollay says.

The latest data from the MYOB Business Monitor, a Colmar Brunton conducted survey of more than 1000 Australian small-medium sized businesses, shows that 56% of respondents report that they or one of their team now works on the road. This has increased by 4% from the same time last year.

Further, 49% of all respondents take payments on the road and 13% of businesses reported losing customers due to not having EFTPOS facilities. Those business owners aged 18 – 29 are the most likely to report losing customers (28%) due to not having EFTPOS facilities.

“By introducing the ability to take EFTPOS payments, we are making it easy for businesses to manage payments and their accounts wherever they are,” Scollay says.

Ivan Zarezkij, Iv’s Burritos General Manager, says the introduction of PayDirect has simplified the way he accepts payments from his mobile food truck. As an existing PayDirect customer, Zarezkij is delighted he can now take EFTPOS.

“MYOB PayDirect gives us the ability to not only accept every kind of payment, wherever we are, it also makes it really easy to keep track of our accounts.

“In the past we could only accept cash, which made it really difficult. We used to keep an eye out for the nearest ATM to direct customers to. If there was no ATM nearby, it meant we would miss out on sales,” Zarezkij says.

MYOB PayDirect payment plans

Pay As You Go Plan: $0 per month + 1.77% (ex. GST) per credit card transaction or 27 cents (ex. GST) per EFTPOS transaction + card reader fee* of $199 ex GST. Ideal for mobile businesses who have the need to take payments on the go. No lock-in contracts.

Further information

Recognised at the 2014 Australian Mobile and App Awards, MYOB PayDirect took out the top prize in the ‘Business’ category.

For more information about MYOB PayDirect, go to: myob.com.au/paydirect

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB website, or its blog, LinkedIn, Twitter, Facebook, Instagramand YouTube sites.

*Source: TNS Omnibus March 2014 (n=1,005)


About MYOB PayDirect

Launched in April 2014, MYOB PayDirect turns a compatible iOS and Android smartphone into a mobile merchant terminal, taking payments on-the-go, sending receipts and improving cashflow.

About MYOB

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. For more information, visit myob.com.au.

About the MYOB Business Monitor

After six years of conducting the MYOB Small Business Survey we've enhanced it to better reflect the profile of Australian businesses. We've now incorporated medium businesses, along with the sole traders and small businesses that were already part of the survey. We're pleased to present the new look MYOB Business Monitor.

The MYOB Business Monitor is a national survey of Australia's business owners (and directors) conducted twice a year by Colmar Brunton.

Key indicators presented are:

Perceptions of current and future performance of business in Australia

Perceptions of the outlook for the Australian economy

Perceptions of Federal and State Government support for business in Australia

Business outlook.