Blog Post
Hi Mel_75 , as part of protecting the privacy of our customers and ensuring the correct handling of these identification documents, the uploading and verification process is managed via a 3rd party software that specialises in secure documentation handling.
We will also treat any information in line without privacy policy you can see here
We understand that the secure payments feature may not benefit all businesses. You absolutely have the option to disable this, either per invoice or as a default.
I hear what you are saying about opt in versus opt out.
Due to the overall intiative being about security for businesses and consumers in Australia, utilising secure payment methods is the best option for an end-to-end secure invoicing workflow so it is best to enabled, but the flexibility to tailor the invoicing feature (including payments) to your business needs still exists to support you
Hi Mike,
As I understand, there is no legal requirement for MYOB to collect the verification information from subscribers.
For MYOB to reduce the functionality of the product because subscribers (all of whom have paid for the service) don't wish to provide the requested information is morally corrupt, and I suspect, illegal.
From a practical perspective, the business interruption costs is significant, for what purpose? The verification process is flawed - especially were the business structure is complicated. This makes the deadlines impractical.
We already have Business Banking Platforms in use (NAB Connect, CommBiz, ANZ Business Online Banking) all secure, and we are already paying for the services (and are verified). They are already providing the financial services and security that MYOB are coveting.
Why must every subscriber support MYOB to become a financial service provider?
I'm happy with the AccountRight product.
I'm also happy with my banks product and have no valid reason to even entertain the idea to either duplicate or move away from the platforms we are currently using.
Good morning IanBarnetson , you're correct, this is something I have mentioned previously, there is no legislated requirement behind MYOBs move to Secure Invoicing, this is a step that we are taking to help reduce invoice fraud in Australia, provide additional security to our customers and their consumers and continue to ensure that MYOB remains a trusted brand.
Having multiple software services is often referred to as 'digital disconnection' it requires additional steps to reconcile, manage, integrate etc and comes with higher costs for businesses as well. As you mentioned, you have multiple services with banks, and you are paying for them.
For many businesses (although perhaps not yourself) it would be welcome to no longer need the additional service at additional costs from the bank, but instead have an all-in-one service through MYOB with no application or monthly rental fees that you will often incur with a bank for a physical EFTPOS terminal or online payment processing facility. And on top of this, you are saving time with the automatic reconciliation of payments.
That being said, this change, as mentioned multiple times, is not solely about the payments facility. It is a Secure invoicing upgrade and platform, not a secure payments upgrade. The ability for our customers to utilise the Secure payments feature after upgrading is an additional benefit that is being appreciated and utilised by thousands of customers. If it is not something that suits your business, it can easily be disabled as well.
Thanks, MikeHi Mike
The issue is also you are forcing the granting of direct debit request authority to our business bank account. For security reasons, we refuse the granting of direct debit access to our bank account, as we do not wish to take online payments (secure payment) now or in the future and therefore believe there is no reason for MYOB to have direct debit access to our bank account.
I rang MYOB support last week and explain this to them, they said there is nothing they can do, and that we need to provide direct debit authority and finish the verification process, then we can disable the secure payment feature.
Our question to you is, if we are disabling this secure payment feature why do we need to give MYOB direct debit to our account?
It would make more sense to have the question asked first, if a business wishes to upgrade to secure payments, then you must provide direct debit authority, bank account details and security ID information.
I cannot understand why this was not done and have not been provided with a reasonable explanation from MYOB for this, thereby suggesting MYOB’s motive is to default users into the Secure Payment system, thereby generating substantial new revenue for MYOB, via the 1.8% + .25 transaction fees. This coupled with the fact that if a business does not provide this information, they will no longer be able to email invoices automatically from MYOB, shows that MYOB is forcing customers to undertake the verification process hoping they don’t disable the secure payment feature, allowing MYOB to earn a new source of substantial income.
We have subscribed to MYOB for an accounting software not for finance facilities.This needs to be fixed you should not force users to provide direct debit access to their bank account to retain invoice emailing function.
Morning Mike,
Thank you for your reply.
As you have confirmed, there is no legislated requirement behind MYOB’s move to "Secure Invoicing". Similarly, there is no technical or legal necessity to reduce the functionality of the software for customers who choose not to opt in. Reducing functionality in order to compel customers to participate would, by any reasonable standard, amount to coercion.
The aspiration that "MYOB remains a trusted brand" is noted. However, trust and confidence are earned through transparency, reliability, and respect — they cannot be coerced.
The privacy implications of the verification process are equally troubling. The volume and sensitivity of information being demanded — including corporate structures, banking details, director identification, shareholdings, and trust deeds — would ordinarily only be provided to a financial institution offering significant funding facilities, and only after robust regulatory checks and balances. Requiring such detailed information simply to continue using already-paid-for software is excessive and unjustified.
Since raising these concerns, I have already observed that the deadline for upgrading on the first impacted client file has shifted — from 13 days remaining last Friday to 34 days remaining today. While I appreciate flexibility, selective extensions reinforce the perception that these deadlines are arbitrary, inconsistent, and not genuinely based on technical need. I am not seeking special treatment — I am seeking a collaborative and respectful approach for all customers.
I urge MYOB to reconsider its strategy. Customers should be convinced to opt in through clear value and collaboration, not coerced through reduced functionality. MYOB must engage with customers, software providers, banks, industry bodies, and regulators to reduce fraud while respecting customer autonomy, privacy and choice.Regards,
Ian
Very well said, it is definitely coercion and Myob are merely using "payment security" as the excuse to gain the 1.8% fee. It is so transparent and of course there will be lots of sheep who just follow.
