BPAY 1.8% charge by MYOB for online payments pretty steep

Coolectrics
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Trusted Cover User
Australia
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BPAY 1.8% charge by MYOB for online payments pretty steep

Hi, 

 

Just wanted to post that it is pretty steep to be charging businesses 1.8% for use of BPAY online payments.

 

It is the one facility that won't be passed along to the customer as a surcharge.  Nice little cut of profit margin.

 

 

3 REPLIES 3
Steven_M
MYOB Moderator
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MYOB Moderator
New Zealand
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Re: BPAY 1.8% charge by MYOB for online payments pretty steep

Hi @Coolectrics 

 

Thank you for your feedback in regards to Online invoice payments.


As you have indicated, the current fee for online invoices is $0.20 per transaction + 1.8% of the total invoice value. Fees and charges are listed for online invoice payments are available on Help Article: Fee and charges for online paymentsNote: Invoice charges for credit card payments (Amex, VISA or MasterCard) can be on-charged to the customer, BPay payments are excluded in this and will be charged to the MYOB subscribed customer.

 

To my knowledge, there are no immediate plans to update the charges associated with online invoice payments at this stage. Although, the team does review those costs regularly.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Vincent-J
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Re: BPAY 1.8% charge by MYOB for online payments pretty steep

Charging a 1.8% (plus transactions fee) for BPAY payments is clearly an exessive surcharge and although not covered by theCompetition and Consumer Amendment (Payment Surcharges) Act 2016 - it is an unfair surcharge.

 

To make matters worse, I don't seem to be able to remove BPAY from the payment options list.   We should be able to offer only credit card and remove BPAY.

 

 

JohnBransby
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Re: BPAY 1.8% charge by MYOB for online payments pretty steep

1.8% surcharge on MYOB  BPay transactions is outrageous. At least with credit cards, the consumer has a choice to pay the surcharge if they pay by credit card and the seller does not lose money. With Bpay there is no option. The seller loses 1.8% and the buyer gets no extra time to pay anyway.  I've simply cancelled the whole MYOB facility and gone back to CBA Bpoint which charges much lower fees on credit card transactions anyway. Perhaps MYOB will take notice if enough people cancel.

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