19th March, 2024
As an MYOB Partner, you are crucial in driving business innovation and helping your clients optimise their operations, boost cashflow and secure their future.
Online Payments are a powerful tool to improve clients’ payment processes for MYOB Business and AccountRight users through the MYOB business management platform.
To help your clients maintain a competitive edge, suggest offering popular payment options and enabling online invoice payments to boost cashflow.
This will help your clients succeed and establish you as an expert in supporting their business growth.
In the digital era, the ability to adapt isn’t just an advantage but a necessity.
Adapting payment processes with Online Payments in the MYOB business management platform streamlines the invoicing processes and supports SMEs to:
1) Boost cashflow: Businesses can receive payments up to 3x faster* when they offer Online Payments on invoices. This game-changer for small businesses helps savvy owners invest in and grow their businesses.
2) Be more efficient: Online Payments simplify invoicing and payment processes, helping businesses save time chasing payments, reconciling invoices, and reducing administrative tasks. As a result, companies can spend more of their valuable time focusing on strategy and growth.
3) Offer more payment options: Catering to customer preferences is crucial in today’s market. Online Payments enable businesses to accept popular payment methods, including Apple Pay™, Google Pay™, PayPal, Pay in 4, AMEX, Mastercard, Visa and BPAY.
Understanding Transaction Fees: While the 1.8% + $0.25 transaction fee in Australia is a consideration, it is essential to weigh it against the benefits of faster payment times, improved cash flow, and time saved on admin.
As MYOB continues to evolve its Partner ecosystem, being up to date with features like Online Payments guarantees you are at the forefront of business technology and ready to make the most of future opportunities.
If you want to recommend Online Payments to your clients confidently, you’ll need to educate yourself and have access to the right resources.
MYOB provides a variety of educational materials and support systems specifically designed to help you understand the details of online invoice payments.
Here’s where you can start:
Support: Online Payments
Recommending Online Payments helps your clients boost cashflow and free up time, while helping you build even stronger relationships with your clients.
Learn more about the benefits your clients will enjoy by adding Online Payments to their invoices.
Applications for Online Payments are subject to approval. Fees apply: $0.25 per transaction + 1.8% of total invoice. Fees are inclusive of GST and will be automatically passed on to your customers unless you turn off surcharging. Payment accepted via Visa, Mastercard, AMEX, Apple Pay, Google Pay and PayPal. You can also choose to enable BPAY but cannot pass on a surcharge to customers who pay via BPAY. View terms and conditions here.
MYOB makes no recommendation regarding whether you should surcharge your customers. Visit the ACCC website here to find out more about surcharging and your obligations.
*Based on a sample of 115,341,810 invoices issued by Australian MYOB customers between January 2023 and January 2024, comparing days to payment for invoices paid with or without online payments
Google Pay is a trademark of Google LLC.
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.