Secure invoicing

Your security is a top priority at MYOB. To help protect your business from cyber crime and online scams, we’re upgrading the security of our invoicing product. This includes built-in fraud protection for eligible transactions, secure payment options for your customers, and use of the secure MYOB system for invoice distribution.

Before you can take advantage of these features, you'll need to verify your business.

What is secure invoicing?  

Secure invoicing adds multiple layers of security for verified businesses, including:   

• Additional secure payment options (including Visa, Mastercard, AMEX, Apple Pay, Google Pay, and PayPal), with an option to pass fees* on to paying customers so you’re not left out of pocket. We've included more information on these default settings below.

• Always-on fraud monitoring for transactions and payment activity, powered by industry-standard protocols and supported by daily monitoring from our fraud team. 

• MYOB Verified badge on all secure invoices, giving customers peace of mind when they’re paying a verified business in our secure environment. 

• End-to-end secure invoice distribution, including use of the MYOB system to send invoices with secure links via email, copy link, and the additional option of SMS, so clients can easily text invoices with secure links on the go. 

Time-saving cashflow management

• Sync bank feeds for auto-reconciliation of payments and fees, reducing manual errors and data entry time.  

• Set up smart reminders for chasing overdue payments that automatically turn off as soon as an invoice is paid.  

• Get paid for multiple invoices in a single transaction with the bulk invoice view, for easy visibility of all outstanding payments owed by a customer.  

• Verified businesses also gain access to the additional option of SMS, so you can easily text invoices with secure links to paying customers on the go. 

Why we’ve made this change  

Cybercrime costs Australian small businesses an estimated $300 million every year, and invoicing scams targeting businesses are increasing in frequency, sophistication and impact. Scam reports from businesses rose by 28% in 2023, and small businesses, with fewer resources for risk mitigation, were hit hardest, reporting nearly $12 million in losses from false billing—the most common scam. 

While we continuously develop and invest in solutions to meet these challenges, cyber security is a shared responsibility. We’re upgrading the invoice experience to enhance the security of our platform for the benefit of everyone who uses it, including our valued partners, clients and customers and the customers who pay their invoices.  

Why business verification?

Verified businesses play a critical role in preventing fraud. Our verification process is intentionally rigorous, requiring individual, business and bank account verification. This multi-step process is completed using industry-standard, secure methods, and has been designed to deter cyber criminals from attempting to infiltrate the process.  

By becoming an MYOB Verified Business, customers help safeguard the entire system. A network of verified businesses means fewer risks and safer transactions, so they can invoice with confidence, and customers can pay knowing they’re interacting with a trusted business.

Secure invoicing upgrade 

Secure invoicing is gradually rolling out in 2025 to customers who send invoices on MYOB subscription plans from MYOB Business Lite through to AccountRight Premier. This staggered approach ensures we can provide appropriate support throughout the verification process.  

If you haven’t previously verified your business, you can expect to be notified by email in the coming months. You will also see in-product messaging with helpful tips and deadlines to assist you during the process. 

How the upgrade works 

• The primary business contact will receive an email from MYOB at least 30 days before you are required to complete the process. You don’t have to take action immediately, but you can get started right away by verifying your business at any time. 

• When it’s time to upgrade, we'll send another email outlining your specific deadlines and steps for completing the process. We’ll also send periodic reminders where required. 

• From the date you receive your upgrade email notification, the verification form must be completed and submitted within a set time frame outlined in the email. 

  Important 

  The secure distribution system is only available to verified businesses. If verification is not completed by specified deadlines, functionality for sharing and distributing invoices will be restricted. Specifically, the email, copy link and SMS options for invoice sharing will be disabled, and invoices will need to be downloaded and emailed manually until the business has been verified. 

New customers 

If you’d like to get ahead and access secure invoicing now, you can complete the verification process at any time. Click here to get started. 

Commencing in mid-May, we will test secure invoicing functionality with a small group of new MYOB Business customers.  

If you’re randomly selected for this test, you’ll be prompted to verify your business before you can create an invoice or set up payment methods for the first time. 

• Customers new to invoicing: You will be prompted to complete business verification before you can use the email, copy link, or SMS options to send an invoice. 

• Customers new to payments: You will be prompted to complete business verification before you can add payment options in Sales Settings.   

How to verify your business 

• To complete the verification process, identity verification of all ultimate beneficial owners is required. This is typically any individual with 25% or more ownership or voting rights for a company. 

• The settlement bank account associated with the business must also be verified. For additional security, any requests to change the bank account in future will trigger a repeat of the bank account verification process. 

• We also collect other basic information including a credit score check. This is not a bureau enquiry, and will not be noted on credit history reports. 

• Supporting documents are required, and specifics will vary depending on business type. Please refer to this support page for more information. 

• After submitting the verification form, you may be required to provide additional information. In these cases, our team will reach out directly to follow up. 

Invoice payment settings 

Secure payment methods are native to secure invoicing, which means they will be added to invoices by default after your business has been verified.  

• Visa, Mastercard, AMEX, Apple Pay, Google Pay and PayPal will be automatically enabled, with surcharging passed on to paying customers by default. The surcharge will be passed on to your customers, unless you adjust the payment settings. That means you won't be left out of pocket if customers pay online.

• You can adjust payment settings to suit your business needs, and choose whether to cover fees yourself, or toggle payment settings on/off by default or on a per-invoice basis. 

• You can also choose to enable BPAY. This method will be toggled off following verification, as you can’t pass surcharges on to paying customers using this method. 

Need some help? For verification support, please log a Financial Services request in My Account. 

FAQs

^{* Applications subject to approval. Fees apply (inc. GST): $0.25 per transaction + 1.8% of total invoice. Fees will be automatically passed to your customers unless you turn off surcharging. Payments accepted via Visa, Mastercard, AMEX, Apple Pay, Google Pay and PayPal. You can also choose to enable BPAY, but you cannot pass a surcharge on to customers using this method. View terms and conditions.}