Wednesday, 15 May 2019 13:39

Eftpos, MYOB partner to deliver ‘more choice’ to merchants online

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Payments provider eftpos is partnering with accounting software company MYOB in a move designed to deliver low-cost, real-time eCommerce transactions to Australian merchants.

eftpos chief executive Stephen Benton said on Wednesday that 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 over the coming months”.

Benton said digital was a natural progression for eftpos, designed to boost competition and drive efficiency in the Australian Payments System as 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,” he said.

“This means merchants and consumers can get their money quickly while merchants may also 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.”

Benton said eftpos would roll out its eCommerce capabilities in stages, with consumer payments to be the final stage.

MYOB chief operating officer Andrew Birch said MYOB PayBy payment solutions and services would help Australian businesses get paid faster by enabling greater payment acceptance options.

“MYOB’s core purpose is about helping businesses succeed; 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," he said.

“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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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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