AccountRight

Credit Card Surcharge

CartonConcepts
9 Posts
Cover User
Australia

I have looked through posts dating back to 2012 and beyond where people have been requesting the ability to have MYOB automatically calculate and (where applicable) add a surcharge for Credit Card payments.

I have the PayDirect device and need to re-issue an invoice to manually add an extra line for a surcharge to the invoice while the customer is with me.

Now that PayDirect Online has been released, a customer has the ability to pay an invoice with their credit card at their leisure, but I end up being charged for it without the customer even being aware. I have phoned customer service and was informed that there is currently no way of automatically adding the surcharge and the system doesn't do it. I am currenlty on the screen to setup PayDirect Online so have not tested it myself. The advice of customer service was to increase my fees to cover the surcharge. Not really fair on people who are not paying by card.

Personally, I would have thought this is something that should have been written into the software prior to releasing the Online component, or should be an option included in the online section that adds the surcharge to the final total prior to the customer paying.

 

Current Status: Under consideration

Thank you everyone for your comments and votes on this idea.

 

Those of you who have used PayDirect Online will find it to be a great tool to make collecting invoice payments easier. By giving your customers the ability to pay straight from their online invoice, you can now spend lesser time chasing payments.

 

According to the RBA, in Australia it takes an average of 45* days for an invoice to be paid. And we have found that invoices that are paid using PayDirect Online are paid on average in just 11 days. That’s a reduction of the average payment time by almost three quarters!!

 

We recognise that having the ability to oncharge credit card surcharge is a very popular request among our PayDirect Online clients. However, research shows that while customers enjoy the benefits of being able to pay by credit card, they find the act of surcharge being passed on as an annoyance. Something that tends not to be rewarded by customer loyalty.

 

So, before we commit to the development of this request, we are conducting our own research to analyse the impact of such a change on the speed of invoice payments.

 

I will provide an update on this idea as soon as I have something more to share on the topic.

 

*Source: Dun & Bradstreet, “Australian Trade Payments Analysis: Payment times remain low in Australia”

151 Comments
Ultimate Partner AlanT
805 Posts
Ultimate Partner
Partner Tactical
7 Posts
Partner

Following on from the article that was linked by AlanT,

I think MYOB will need to reconsider the very high surchage rate 2.2%

 

It would be good if MYOB now lets everyone know what they plan to do on this issue.

 

Will it be fixed or will it be left as is.

runshepsrun
1 Post
Cover User

I won't be using this service until we can pass the fees directly on to customers. I can't believe this feature was not considered after waiting so long for the online payment to be added to MYOB in the first place, i am now waiting even longer and will continue to use another service until this feature is implemented. Very backward MYOB!

LancerBeerParts
1 Post
Cover User

I can only use this service if I can forward the costs thru to the customer. 

MYOB really needs to get this sorted.

Experienced Cover User mickhammond
14 Posts
Experienced Cover User

I strongly agree that this feature is needed.

 

I really cannot understand why it wasn't included by default. It could always be turned off by people that do not want it. But by not having it, others are forced to pay hundreds of dollars to cover the costs.

 

Who runs these planning meetings? The mafia?

Experienced Partner VickiS
46 Posts
Experienced Partner

I would think that it would be something the developers are working on, not considering. Like others, I will not implement until the option to automatically calcualte and add in the credit card surcharge has been added to the feature.

 

And while you are there, please add the same ability to automatically oncharge credit card surcharges when using the PayDirect device.

MG123
1 Post
Cover User

Myob not smart.....if you fix this issue about surcharge and reassess your surcharge % (I.e negotiate a better rate with the credit card companies) just think how many users would be signing up to this feature.

Stephen_Z
2 Posts
Cover User

As a not for profit organisation the cost of the online credit card feature @ 25c plus 2.2% fee is substantial and not one we could afford to contain in-house and eat into our donated funds as a service overhead :-( we would only use this feature IF there is the ability to automatically inform the donors of the fee incured and pass this on to them.

SH-19
1 Post
Cover User

I agree that if this function was added it would be good for businesses, as we can not track these extra charges when and where to add them.

SharifE
1 Post
Cover User

Need to have this feature added, otherwise wont be using this service.