Card Surcharges
As of 1st of October will MYOB be charging us the 1.8% Credit Card surcharge + the .25c transaction fee or will it be removed as per the RBA's recommendation?
Forum Discussion
Hi LeeSupplies and all on this thread
We have just posted an updated for all in the forum here. In particular, this links out to a landing page we have created on this change, and you have the option to register for an upcoming webinar that we will be running for our customers as well
Please take a look here when you have the time
Hi Mike,
I am stuck with the wording...For businesses, this means card fees can no longer be passed on to customers. Are we not your customers? Isnt MYOB a business? If you can clarify as the link doesn't. or I am missing it.
Hi TamaraDee , no trouble
MYOB (and you as our customer) wear multiple hats when it comes to card fees and this change.
Scenario 1: A 3rd party provides a payment platform to MYOB, MYOB is the business, and you are the customer
MYOB is the business, we sell a product, eg MYOB Business Pro ($70 per month).
When we charge our customers for this software, if you were to pay that $70 invoice using a credit card, then MYOB (as the business) has a fee for accepting that card payment. And today we could surcharge that cost to you as the customer, but from the 1st of October this would no longer be allowed.
*Note that we have another party providing us with a payment acceptance platform with fees as well.
Scenario 2: MYOB is the payment platform provider. You are the business, your customers are the customer.
You are the business in this scenario, you sell a product or service to your customers, and you need to accept payment for those products/services.
When your customer pays the invoice, you have an agreed facility with MYOB who has provided you with the ability to accept credit cards (with the 1.8% + 25c fee).
When your customer pays your invoice via credit card, today you can pass that fee on to them. But from 1st October you will no longer be able to.
