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9 6 P L UMB I N G CO N N E C T I O N A U T UMN 2 0 15
T wo in three small business
operators don’t offer credit
card payment facilities (61%),
with 27% citing the cost of processing
these payments as a barrier to
entry, according to new research
conducted by popular Australian
provider of tax and accounting
software MYOB.
Further, one in 10 respondents said
they have lost customers due to not
having credit card payment options.
And of the respondents who issued
invoices to customers (86%), more than
one in three (37%) said at least one
quarter of their customers paid them
later than their invoice terms.
This can put unbearable (and
unnecessary) strain on a tradie.
“One of the most important
indicators of business health is cash
flow. It’s also the second most common
business pain point,” MYOB chief
executive Tim Reed says.
“Having solid control over money-in
and money-out is core to the long term
success and viability of every business,
and can be the difference between it
thriving and failing.”
For this reason, MYOB and a number
of other financial services companies
have launched mobile payment devices
that are designed to make it easier for
mobile operators like tradies to be paid
on the spot.
IN ACTION
Jim’s Group chief operating officer
Neil Welsh says the addition of a
mobile payment system to its business
– in this instance MYOB PayDirect –
allows Jim’s franchisees to close the
loop and carry-out the work, present
the invoice and collect payment, all on
the same day.
“This impacted significantly on their
cash flow,” Neil says.
“By fully integrating our Jimbo
CRM, the MYOB financial package and
PayDirect, we provide our franchisees
with significant relief around the
administrative burden of running a small
business. The new system provides them
with more time to spend with their family
or to further develop their business.
“By implementing PayDirect into
our franchisee network we also
expect our client experience to be
enhanced. Clients will be able to
choose between multiple payment
options, including credit and debit
card transactions.”
With mobile payments expanding
quickly across the world, are you best
servicing your customers’ needs?
CREDIT CARDS HIT PAY DIRT
New credit card payment
facilities are making it easier
for tradies to get paid in a timely
fashion. Paul Skelton reports.
PAYPAL HERE
PayPal
PayPal Here is a credit
card reader that has been
developed to make doing
business easier and more
convenient for merchants
and their customers.
For merchants,
it provides a whole
ecosystem from which
to manage their money,
giving them the ability
to accept debit cards,
credit cards and checks
anytime, anywhere. It also helps them track cash payments and generate invoices so
they can run their business easily and in a 100% secure environment.
Consumers get the convenience of new payment methods handled through their
PayPal account, allowing them to have purchasing options beyond swiping a card or
handing over cash.
PAYMATE ONTHEGO
Paymate
Paymate OnTheGo is designed for businesses that
currently don’t accept card payments. It allows you to
get paid wherever you do business. All you need is the
mobile Card Reader, your smart phone with internet
connection plus the free Paymate OnTheGo app.
Paymate OnTheGo is an inexpensive innovation for
your business. Plans start from just $16.50 a month.
And for a limited time, the Card Reader is half price
at only $149 (inc GST). Plus a technician will come
and set up Paymate OnTheGo for your business at no
extra charge.
Payments go directly into your business’s bank
account, improving your cash flow by getting paid
faster – no more chasing invoices.
All transactions are secured to the highest
industry standards (PCI-PED Lvl 3).
TECH