After much frustration following this feed and MYOB's inability to take action on what their clients want ... I think I've finally found an alternate product/facility that suits our business’s needs. Most of our Account Clients pay us by EFT which generally works well for us, with only 1 or 2 Clients that pay by cheque, other cheques would be from Cash Sale Clients and it is this group that mostly ask if we have credit card facilities in place.
MYOB's solution to not giving us the option to pass on their credit card fees is to just incorporate it into our pricing - effectively having to increase the pricing across all our clients simply because maybe 5% want to pay by credit card ... hmmm I think not, especially if we want to remain competitive in an industry who's clients are often predominately focused on the dollars, and not necessarily appreciating the extra value they get from our service.
I’ve been looking through the different products offered by our bank (Bendigo) and feel that their Online MOTO products will suit us best. This is an online payment portal that is actually run by Mastercard (is linked to our Bendigo account) and can be used via our computer/pc, tablet or smartphone. It's low cost and simple pricing makes it the perfect solution of our business as we control who we accept to make payments by credit card - which means we can make allowances for and inbuild the fees into the pricing for these specific clients.
Key features and link for those who may be interested: https://www.bendigobank.com.au/public/business/take-and-make-payments
- Separate standalone product/app – separate to your online banking.
- Can be set up and customised to suit up to 99 users.
- The Bendigo Bank have no other Set-Up or Merchant Charges on top of The Simple Pricing fees that are listed below.
- For customers with monthly transactions over $20,000 a custom pricing package is available.
- Takes approximately 1 to 2 weeks to set up.
- Simple to use
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