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Mobile payments for SMEs

MYOB-PayDirect oOnline pre-registrations for MYOB’s mobile payments solution, PayDirect, have opened prior to its limited release on March 31.

MYOB PayDirect turns small businesses’ smartphones into payments terminals. Following a limited release later this month, a general release is planned for next quarter.

The app is compatible with internet-enabled devices with iOS 6 or higher, and Android 4.0 or higher, and will be free to download from the Apple app store and Google Play store.

The PayDirect reader connects to smartphones via an audio jack and will accept ‘swipe and sign’ and ‘chip and sign’ credit cards. It will provide users with a daily transaction limit of $2500 and when fully charged can perform up to 2500 transactions.

MYOB connected services GM, Andrew Birch said PayDirect is geared to local business owners, for whom cash flow is a crucial focus.

“The average Australian consumer performed double the number of credit or debit card transactions in 2012/13 than they did five years prior, so we imagine this app will be embraced by both business owners and their customers,” Birch said.

MYOB-PayDirect-Iphone5+Sign+Reader o“Operators can take credit card payments and administer receipts and invoices on the spot, rather than having to return to the office, to generate and send them, and then wait weeks to get paid. The greater an SME’s ability to be paid quickly, and the deeper the insight they have into their cash flow situation, the more likely they are to be able to succeed and grow their business.”

MYOB PayDirect does not require lock in contracts or set up fees, instead using an application process and monthly payment plans.

Other features of PayDirect include AccountRight Live integration for clients running their accounts in the cloud, which adds invoicing (managing creating editing and sending), and contacts (for managing, creating, and editing contact details of customers and suppliers, including maps and driving directions).

PayDirect also integrates with the MYOB Essentials range. Additional features including eftpos compatibility will follow as the app progresses.

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