Thursday, 03 April 2014 07:25

MYOB turns phones into credit card readers Featured

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Australian accounting software company MYOB has launched PayDirect, which turns iPhone and Android smartphones into portable credit card terminals.

The technology is from Australia developer Mint Wireless. MYOB is claiming an ‘accounting industry first', though the Mint Wireless technology has been in use in more limited applications for over a year now.

The technology uses a free app and a small card reader which connects through the smartphone’s audio jack. Given the widespread use of MYOB accounting software in Australia, the release is likely to greatly accelerate the use of mobile payments locally.

The app is initially available only on iPhone, with an Android app soon. The company says it has no plans to release a Windows Phone app for the card reader, though it does have a Windows 8 app for AccountRight

MYOB says the system is ideal for on-the-go tradespeople, and will help with their cashflow by enabling them to bill and get paid immediately. It integrate with MYOB's AccountRight cloud-based accounting software.

There are three payment options: pay-as-you-go at zero monthly, plus a 3.2% transaction fee, an ‘everyday’ plan at $20 a month, plus 2.1% transaction fee, and a high volume plan at $60 a month, plus 1.5% transaction fee. For all plans there is also an initial $199 upfront fee for the card reader.

“Mobile technologies are quickly blurring the line between our personal and work lives,” says CEO Tim Reed “For people running a business, having a central device to stay in control of their business can be extremely handy.

”PayDirect will enable business owners to take payments, send receipts and manage their invoicing and contacts on-the-go. Our research shows one in ten business operators already take payments on-the-go, but one in three say they would benefit from being able to. You can run business from your pocket and work even more effectively while out of the office.

“For accountants and bookkeepers, MYOB PayDirect will also help realise the vision of a paperless office. As clients sync payment straight from their phones to AccountRight, this will reduce data entry, improve accuracy and save time.”


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Graeme Philipson sadly passed away in Jan 2021 and a much valued senior associate editor at iTWire. He was one of Australia’s longest serving and most experienced IT journalists. He is the author of the only definitive history of the Australian IT industry, ‘A Vision Splendid: The History of Australian Computing.’He was in the high tech industry for more than 30 years, most of that time as a market researcher, analyst and journalist. He was founding editor of MIS magazine, and is a former editor of Computerworld Australia. He was a research director for Gartner Asia Pacific and research manager for the Yankee Group Australia. He was a long time weekly IT columnist in The Age and The Sydney Morning Herald, and is a recipient of the Kester Award for lifetime achievement in IT journalism. Graeme will be sadly missed by the iTWire Family, Readers, Customers and PR firms.

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