eftpos partners with MYOB to deliver Aussie merchants more choice online
15 May 2019
In an Australian first, eftpos is partnering with MYOB to deliver low cost, real time eCommerce transactions to Australian merchants.
eftpos CEO, Mr Stephen Benton, said MYOB would leverage eftpos’ eCommerce payment processing and settlement capabilities to offer low cost efficiencies and real time transactions to merchants and consumers in digital channels.
Mr Benton said digital was a natural progression for eftpos that will boost competition and drive efficiency in the Australian Payments System as we have seen in the bricks and mortar retail environment.
“With more than 51 million eftpos-enabled cards, eftpos offers real-time eCommerce capability to almost every Australian with a bank account,” Mr Benton said. “This means merchants and consumers can get their money instantly, while merchants may benefit from lower costs which they can pass on to consumers through lower surcharges”.
“eftpos is striving to create innovative and cost-effective solutions for Australians, while upholding the reputation, integrity, security, reliability and stability of the eftpos payments system.”
Mr Benton said eftpos would roll out its eCommerce capabilities in stages, starting with dispersements (paying people or sending money) and card on file transactions. Person to person and consumer payments would follow in coming months.
MYOB’s Chief Operating Officer, Andrew Birch, said MYOB PayBy payment solutions and services will help Australian businesses get paid faster by enabling them with greater payment acceptance options.
“MYOB’s core purpose is about helping businesses succeed,” said MYOB’s chief operating officer, Andrew Birch. “We are always looking for new ways to innovate to ensure our customers have the tools and options they need to deliver their own business success.”
“We know payments and cashflow are one of the biggest headaches for businesses. Providing greater freedom to accept more payment methods, such as eftpos, means our customers’ payees have more options to pay, helping them keep on top of their cashflow.”
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eftpos is Australia’s own debit card system, accounting for around 2 billion CHQ and SAV transactions in 2018 worth almost $130 billion. For more information on eftpos, please visit: www.eftposaustralia.com.au
MYOB 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 three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. We also provide ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. We are committed to ongoing innovation, particularly through our Connected Practice Strategy and through the development of the MYOB Platform. For more information visit https://www.myob.com/au/ or follow @MYOB on Twitter.
Warwick Ponder, eftpos
0408 410 593