Aimee Chanthadavong for ZD Net writes: Research by MYOB shows that two-thirds of small to medium enterprises (SMEs) do not offer credit card as a payment option, and as a result of it 1 in 10 have lost customers.
To help SMEs resolve this issue, the company has launched a mobile payment solution, called MYOB PayDirect, for a limited release to allow them to receive payments and issue invoices.
MYOB head of product services, connected services Matt Mulligan said cash flow is one of the biggest pain points of SMEs.
"Business owners don't start businesses to become accountants or chase down invoicing, they go into business to do what they want to do. They're really not brilliant at collecting payments or invoicing," he said.
The free mobile app has been designed to integrate with MYOB's existing cloud solution AccountRight, so payments are automatically entered into clients' books. It also enablesreceipts and invoices to be delivered to their customers on the spot.
According to Mulligan, MYOB customers set out four criteria for the company to meet when PayDirect was being designed. These were that it had to be an easy to use solution, it would enable them to handle invoice and payments at the same time, it would allow them to do bookwork as they went, and it had to work in all formats whether that's on-premise or mobile.
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