The accounting software provider's PayDirect Online service enables quick payment of invoices.
MYOB PayDirect Online is now integrated with MYOB AccountRight and MYOB Essentials. The aim is to speed up payments by providing an easy way for customers to pay their account online directly from an emailed invoice.
It's similar to Xero's 'Pay Now' button but where Xero leaves it to businesses to set up their own accounts with payment service providers, MYOB PayDirect Online deposits the proceeds into the user's bank account in exchange for a fee of 2.2 percent plus 25c per payment.
Customers can pay with MasterCard or Visa.
PayDirect Online's integration with AccountRight and Essentials means payments are automatically recorded in the accounts, minimising the administrative load.
"Australian businesses currently on average wait 44 days to get paid, and our research continues to tell us that cash flow is a significant concern for businesses," said James Scollay, general manager of small and medium enterprise solutions at MYOB. "We're working to reduce this time, and address SME pressure points of cash flow and uncertainty in finances. Through PayDirect Online, SMEs will get paid faster, and can gain better control of their sales with online invoices."
"We know that the bulk of SME payment volume is through an invoice. Now, when a customer receives an invoice from a business, they can hit the 'Pay Now' option and directly make payment through their credit card. This reduces the clutter and administration for the paying customer," he added.