Story image

MYOB sells off its rental payments platform for $425,000

01 May 2018

Accounting and business software company MYOB has sold off its RentPay solution to local rental property organisation Rent.com.au (RENT), in an acquisition deal worth $425,000.

As a result of the deal, RENT is set to acquire the existing RentPay system as well as its website and customer base.

RentPay currently has over 6,000 renters using the system to pay their rent using a variety of payment methods.

RENT says an initial payment of $225k has been made, with the rest of the balance payable upon the completion of the formal sale and operational support agreements.

Rent.com.au Chief Executive Officer Greg Bader says, “We have been quite clear that we see payments as a core part of our future and this transaction allows us to ‘hit the ground running’ with an existing customer base and income stream.

“Renters are at the heart of all we do, and RentPay delivers a good service which we will build upon. It currently provides renters with choice of payment methods for their rent and related bills, reminders and automation as well as full transparency on their payment history.

“We will, of course, continue to improve on the system, focussing on delivering the front end changes our customers expect,” Bader continues.

The payment gateway of the RentPay platform will continue to be operated by MYOB’s payment solutions division, which provides secure payment solutions including merchant service facilities and invoice payments.

“The great thing about this acquisition is that it also allows us to deliver value to our Agent and Landlord customers. We already provide a platform that allows our landlords and agents to manage the listing and letting of their properties on our site, and RentPay will allow us to build on that and offer payment solutions to clients facilitating rent collection, reconciliations, accounting and more,” Bader concludes.

Seven Aussie projects shortlisted in IDC's Smart Cities Awards
The nominated projects include three from Newcastle alone and span smart water metering, solar farms, virtualization and transport.
Y Soft and Brother partner to enhance print management
YSoft SafeQ integrated print management and document capture solution is now embedded in Brother multifunction devices.
F5 acquisition of NGINX now complete
The companies have released blogs on the topic, explaining how NGINX will now operate as a unit of F5, and the benefits they expect this merger to bring.
IXUP goes "post-quantum" with security tech upgrade
The secure analytics company has also partnered with Deloitte as a reseller, and launched a SaaS offering on Microsoft Azure.
Infoblox appoints channels head for A/NZ
Kenneth Cartwright’s appointment extends Infoblox’s position in secure cloud-managed network services throughout the region.
Adobe & Amazon: Making merchants' stores a lot more powerful
Magento Commerce branded stores for Amazon sellers features native integration with Amazon merchant tools including Amazon Pay and Fulfillment by Amazon. These provide the convenience of secure payments and speedy shipping services for buyers.
Edge computing market to provide ‘lucrative opportunities’
The market is set to skyrocket in the coming years, paving the way for emerging market players.
CIOs in A/NZ are slowly making digital business progress
“A/NZ CIOs have the chance to step up to become more influential business leaders, but most are not seizing that opportunity to drive change.”