MYOB announces new SMB mobile payments solution

At its first partner roadshow event for 2014, held today, Australian accounting software provider MYOB announced it will soon launch its mobile payments solution MYOB PayDirect, turning small businesses’ smartphones into payments terminals.

A limited release will launch late in Q1 for early adopters, with the general release planned for Q2 2014.

The initial release of MYOB PayDirect comprises a free mobile app that enables business owners to take credit card payments. The app has two modes:

· Payments-only: enabling any SME to accept customer payments while on the road

· Integrated: where the app integrates with AccountRight Live and enables clients to raise invoices, manage debtors and contacts, as well as take payments.

Integration with the MYOB Essentials range and many additional features will follow over subsequent months.

“We’re excited to take another innovative step towards making business life even easier – one of numerous steps we’ll take as this app is enhanced and advanced," says Tim Reed, CEO, MYOB.

"With mobile technologies quickly dissolving the line between working in and working out of the office, MYOB is empowering many of the 1.2 million businesses we service to improve their cash flow and work on-the-go.

“Our research shows one in 10 business operators already take payments on-the-go but one in three say they would benefit from being able to.

"They could significantly improve their cash flow, a top five SME pain point, by incorporating this solution into their business – taking payments on the spot and receiving funds in two days instead of in 30, 60 or 90 days.

“A compelling app that takes advantage of the powerful usability of native iOS and Android operating systems, PayDirect signals our strengthened commitment to the on-the-go business management needs of all SMEs.

"It will empower all AccountRight Live clients to run their business from their pocket and work even more effectively while out of the office, something we’re proud to be a part of.

“We’re looking forward to revealing more features, integrations and partnerships in the coming weeks, months and years.”

The feature set for Q1 so far is:

· Payments – turning a compatible iOS or Android smartphone into a mobile merchant terminal, taking payments on-the-go, sending receipts and improving cash flow. For payments, business owners can connect a card reader to their smartphone, providing an easy and secure way to receive credit card* payments. EFTPOS compatibility will be available later in the year.

· AccountRight Live integration for clients running their accounts in the cloud, which adds:

o Invoicing - for managing, creating, editing and sending invoices

o Contacts - for managing, creating and editing contact details of customers and suppliers, including maps and driving directions