Mind your own portability

Mobile payments and invoicing will soon be available to MYOB clients with the release of its paydirect app for iOS and Android mobile devices.

At its first partner event for 2014, the business accounting software provider announced that it will be offering the app for limited release late in the first quarter of this year. A general release is planned for the second quarter.

MYOB CEO, Tim Reed, said, “With mobile technologies quickly dissolving the line between working in and working out of the office, MYOB is empowering many of the 1.2 million businesses we service to improve their cash flow and work on-the-go.”

Reed said company research showed one in three business did not currently take payments on the go, and that they say they would benefit from doing so. He claimed that by using the software, many small to medium enterprises would be able to receive payments in two days instead of waiting up to 90.

The initial release of the product combines a free app that allows for Visa and Mastercard payments. The app has a payment only mode and one that integrates with MYOB’s accountright live software, allowing for invoice raising, debtor management as well as payments.

The release comes at the same time the company announced plans to solidify its position in the market with further product releases, extensions and changes in branding. MYOB said it plans to launch a series of Cloud products in the coming year.

Reed said that influx of foreign players into the local market meant that the company needed to increase its competitiveness and the upcoming releases were part of that plan.