Mastercard and MYOB Announce Strategic Partnership

MYOB and Mastercard have announced a strategic partnership to bring innovative new ways of managing cash flow to small business owners across Australia.

The companies are teaming up to introduce a payments solution for customers looking for an easier way to manage supplier invoices and payroll. Customers will be able to process payments directly from MYOB’s accounting software platform.

The solution shifts payment from being a manual process that requires business owners to rekey payment details directly into their internet banking, to an automated in-product experience using their existing credit or debit card.

The payments functionality will offer a range of additional benefits including same-day payments, mobile and web-based support, secure workflows and alerts for when payments are due. It is scheduled for release in the first quarter of 2019.