E-invoicing and Payments System for SMEs Launches in S’pore

An e-invoicing and payments solution targeted at small and medium enterprises (SMEs) has been launched by Asia Business Solution Software Solutions (ABSS) and Mint Payments, an Australian payments processing technology provider.

Dubbed ABSS Click to Pay, the product provides SMEs with an online card payment channel for paying invoices.

The solution enables SMEs to click through directly from an e-invoice, enter credit/debit card or bank account transfer details, submit their payment online and receive a tax receipt instantly. This also allows direct card transactions to be processed in real-time, allowing SMEs to effectively manage their cash flow, reducing invoice processing costs and improving the invoice to payment process to achieve cost efficiencies.

The launch follows a partnership agreement between ABSS and Mint Payments in March. Under this agreement, ABSS will distribute, license and integrate Mint Payments’ omni-channel payment solutions with ABSS’ MYOB branded SME business software products.

Mint Payments’ partnership with NETS also enabled ABSS to be connected to NETS’ extensive payment processing network.

“More than 300,000 SMEs across Asia are already using MYOB as their accounting software of choice and it is the number #1 accounting software for SMEs in Singapore. Our partnership with Mint has enabled ABSS Click to Pay to be integrated with our MYOB software, which aims to help all SME businesses in Asia significantly increase business profitability by receiving payment faster,” said Paul Conway, CEO, ABSS.

Southeast Asian rollout

ABSS Click to Pay is currently available in Singapore and will be rolled out across Southeast Asia. The collaboration between Mint Payments, ABSS and NETS seeks to capitalise on the strong growth of eCommerce as well as online and mobile payments. Southeast Asia is also slowly witnessing the shift towards electronic payments, in replacement of cash and cheques, from consumers to corporations.

“With this collaboration, we are delivering a comprehensive omni-channel payment solution to SMEs in Singapore and the wider Asia-Pacific region. ABSS Click to Pay marks the first of a full suite of products that will be made available. Moving forward, we are targeting to launch Singapore’s first unified mPOS solution with NETS, which will also be made available to all ABSS’ merchants,” said Mint Payments’ CEO Alex Teoh.

NETS CEO Jeffrey Goh said: "Being a trusted payment partner for merchants in Singapore, this collaboration with Mint and ABSS enables NETS to deliver omni-channel payment solutions that boost business productivity and efficiency for our merchants. This completes the final leg for merchants to automatically link payments into their business management system in a seamless manner.”

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