Aussie SME's in online payment boost

Aussie SME's in online payment boost

Small and medium sized Australian businesses can now quote prices for customers and bill credit cards online in US dollars, thanks to a system developed by Internet payment facilitators Paymate.

Paymate says the system, called MyExports, will enable exporters and online merchants to increase sales and provide their customers with a more convenient payment system.

The company already provides an online service enabling individuals and small sellers to accept credit card and bank account payments online in Australian dollars. However, until now only overseas providers have offered US Dollar denominated payments services, costing Australian sellers up to 13 percent in merchant service and currency conversion costs, according to sellers on eBay Australia & NZ.

Managing Director of Paymate, Dilip Rao said the system is the first US dollar service from an Australian online payments provider and is targeted at smaller merchants as it is easier than existing services to implement and cheaper to use.

"US and overseas buyers can bill their credit cards in a familiar currency and sellers can receive Australian dollars directly into their bank accounts - there are no set up costs or high conversion fees. Sellers can sign up online and start receiving USD payments in three minutes," said Rao.

The Australian Trade Commission (Austrade) and DHL Danzas partnered Paymate in developing the payment system. 

Austrade’s Internet Adviser, Edwin Kuller, said the US dollar credit card facility is the first step in the MyExports suite.

"When fully operational, the suite will allow clients to present documents securely, eInvoices for payment by their counterparts from any overseas bank account and interface with agents to export, such as the Australian Customs Service."

Paymate is the only Australian provider of person-to-person payment services, successfully launched with eBay Australia & NZ in October 2001. Over 25 percent of eBay's listings now offer Paymate as a payment option.

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