Secure Invoicing

Hi IPSM​ , you clients payments are through a payment gateway and does not put them at risk. It is the same as purchasing flights or anything else online. IF MYOB was to be hacked, then your clients payment information would still be secure

I wouldn’t give clients the option to use the “secure online payment system.”

It costs your client an extra 25 cents plus 1.8% of the invoice value — fees that go straight to MYOB. On a $1,000 invoice, that’s an additional $18.25 simply for the convenience of paying online.

And if MYOB gets hacked, then are our clients information at risk when they use "SECURE ON-LINE PAYMENT"???

Hi there UEA​ 
Online payments may not suit all invoices, or all businesses. This is one of the reasons there is plenty of flexibility in turning this on/off either by default or per invoice.

Providing more payment options to your customers gives them the flexibility to choose the payment method that suits them best.
One example I can think of, would be If the person paying the invoice has a company credit card but doesn't have access to the bank account for bank transfer, then it would be a lot more convenient for them to pay you using the online payment method.

As the business, you would get paid faster, have better security for receiving payment, easier reconciliation and instant customer receipts.

Not all businesses will be issuing high value invoices as well. Many businesses will have a high volume of invoices at a lower value, getting paid faster and easier is a huge benefit.
Most consumers are also very used to paying invoices online and accepting the associated fees, utilities, flights and more. 

You can read up all about MYOIBs online payments here

I’m struggling to see the benefit of this option for our clients.

On a $50,000 invoice, the processing fee alone would be approximately $900 just to submit payment online. That’s a significant additional cost with no corresponding value or incentive on the client side.

Given that impact, it’s hard to understand why a client would choose this method over standard payment options. Can you clarify what advantage this provides that would justify the added expense?

Hi IFMsolutions​ , that's correct, it is based on the invoice value
This fee only applies if the person paying the invoice uses an online payment method though.
So if they still transferred to your account or paid cash, there would be no fees at all.
MYOB customers can choose in their settings whether they pay this fee themselves, or whether they want to pass this on to the person paying the invoice (surcharge).
When taking the surcharge option, the person paying the invoice is shown the fee before making payment, if they do not want to accept the fee, your other payment methods are available to them. 

Is that 1.8% of the invoice total?  So if our invoice total to our client is $20k, they have to pay (0.25c + $360.00) for the privilege to pay via MYOB?

I have been given an exemption to the secure invoicing feature after raising a case with AFCA, I highly suggest all should do this. 

Hi UEA​ , 
If you would like to learn more about the identification documents and process, we have a handy help page where you can read up about it here

This page does confirm that turnover estimates are used to assess chargeback risks (still associated with access to the secure payments feature)

The help page also includes some FAQs and the instructions on how to connect with our support team if you still have questions.

Still does not explain why you need our turnover or the number of employees as part of the process for secure payments. How is this information even relevant and how would you even know if the information provided is accurate or not?