MYOB and BPAY join forces to offer a new payment option for Australian small businesses

15 May 2018

MYOB has collaborated with BPAY to add a new payment option to its Invoice Payments solution. The collaboration will see MYOB, one of Australia’s leading providers of business management solutions, offer BPAY payments solutions to small businesses, in addition to the existing credit card payment option as part of its online business solutions.

MYOB’s payment software helps small businesses get paid four times faster

MYOB’s customer data shows that, on average, businesses take 42.6 days to get paid, while those who convert to MYOB merchants and accept electronic payments directly through the platform are paid in under 10 days.

“We know cashflow is one of the big pain points for businesses, particularly small and medium sized enterprises,” MYOB Head of Product Marketing Kim Owen-Jones said. “Giving customers the choice of BPAY as a payment method will provide even more ways for businesses to get paid faster.”

Two iconic Australian brands making payments easier together

“Relationships with companies like BPAY are fundamental in getting great solutions to our customers”, said Ms Owen-Jones.

 “Small businesses are the lifeblood of the Australian economy. BPAY is Australia’s leading way to pay with over 1.5 million BPAY payments made every day. We’re thrilled to be collaborating with MYOB to help allow SMBs to give their customers a way to pay that works for them. This is part of our commitment to innovating around the BPAY product and helping solve frictions for customers and businesses.” commented Keith Brown, BPAY Group’s General Manager of Product, Scheme & Business Development.

In addition to giving customers more choices on how they are paid, the latest innovation helps MYOB customers to follow up on payments with the ability to track when their invoices are viewed, saving considerable administration time.

BPAY will be rolled out to MYOB customers on May 15.

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For further comment or other information please contact:

Selina Ife, Media Relations Consultant, MYOB
M: +61 488 044 237/ E: selina.ife@myob.com

Addie Freyne, Program Director - BPAY, Hotwire
M: +61 473130842/E: addie.freyne@hotwireglobal.com

About MYOB
MYOB Group Ltd (ASX: MYO) is a leading provider of online business management solutions. MYOB makes business life easier for approximately 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across four strategic segments – Small to Medium sized businesses (SMEs), Practices (accountants, advisers and bookkeepers), Enterprise (larger businesses) and Payments. It provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. MYOB is committed to ongoing innovation and delivering efficiencies and growth opportunities for its growing client base across Australia and New Zealand.  For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.

About BPAY Group
BPAY Group is a dynamic mid-sized company, small enough that everyone’s ideas are heard and big enough to deliver. BPAY Group focuses on technology creates a culture that values innovation, embraces new ideas and provides people the opportunity to make the most of their skills and talents. BPAY Group makes the complex simple, making life easy for all Australians. 

About BPAY
BPAY makes it easy to receive, pay and store bills through the Online or mobile banking platform of over 150 Financial Institutions, helping over 11 million Australians.  BPAY processes an average of 1.5 million transactions to the value of $1.5 billion each day. In 2017, BPAY turned 20 years old and  is the leading choice for Australians in paying their Household bills (RFi Payments Diary 2017).

About Osko by BPAY
Osko will launch gradually through Financial Institutions from February 2018. It is the first product to be built on Australia’s New Payments Platform. It complements BPAY within Online and mobile banking environments by offering a person-to-person payment method across over 50 banks, credit unions and building societies (with more adding the service soon). 

For more information about BPAY Group visit http://www.bpay.com.au/aboutus