MYOB and Mastercard launch loyalty program for sole traders
09 Jul 2020
MYOB has launched a loyalty program in partnership with Mastercard, allowing sole traders to earn rewards points when they pay eligible business expenses using a Visa or Mastercard credit card in the MYOB AccountRight Live business solutions platform.
Enrolled customers can earn MYOB Rewards points on eligible credit card payments now and in the coming months will be able to redeem them for a variety of business perks including vouchers for popular retailers such as Uber Eats, Bunnings, Woolworths, Coles and JB Hi-Fi.
The launch is a realisation of the MYOB and Mastercard partnership announced late last year and is initially available to sole traders, with expansion to other businesses set for the coming months.
“This new program has a two-fold benefit for sole traders; it allows bulk payments via Mastercard or Visa - even to businesses who prefer not to accept cards - as well as access to an all new loyalty program for credit card payments,” said Andrew Baines, General Manager of Financial Services at MYOB.
“Our customers have told us they already see the benefit in using credit cards to make payments, whether to help with cashflow or unlock business perks.
“This program is available regardless of who the business banks with – all they need to do is make a bulk payment using a Visa or Mastercard credit card and they can take advantage of the rewards,” Mr. Baines said.
“Enabling expense payments from within the business solution platform and automating reconciliation is another example of how MYOB is helping customers focus on high value work by reducing what has traditionally been a time-consuming task.”
“Mastercard is committed to supporting small businesses as they adapt to new ways of operating and evolving customer expectations. Our partnership with MYOB is the first of its kind for Mastercard in the Australia/New Zealand region. This is the first time we have partnered with an accounting software provider to enable a convenient, safe, secure and frictionless way for businesses to process payments including bills, invoices and payroll,” said Asha Cugati, Vice President of Specialist Sales at Mastercard Australasia.
The announcement of the solution going live was made at an online MYOB Showcase event for MYOB Partner accountants and bookkeepers, highlighting key product announcements and achievements for the quarter.
Other highlights from the event include the announcement of MYOB’s integrated employee self-service feature for hourly workers, MYOB Team.
For further comment or other information please contact:
Selina Ife, MYOB
Matilda Freedman, Mastercard
MYOB is a leading business platform with a core purpose of helping more businesses in Australia and New Zealand start, survive and succeed. At the heart of MYOB is a customer base of 1.2 million businesses and a network of more than 40,000 accountants, bookkeepers and consultants, for whom MYOB delivers end-to-end business and accounting solutions. MYOB operates across four key segments: Small and Medium Enterprises (SME), Enterprise, Financial Services and Practice. For more information visit myob.com or follow @MYOB on Twitter.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.