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.
“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.”