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Australia’s MYOB sells RentPay rental business to Rent.com.au for $425,000

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MYOB, an accounting software vendor has sold RentPay, its rental payment system to Rent.com.au for $435,000.

The platform allows renters to pay their rent with a handful of different payment methods, as well as a payment gateway with secure payment solutions like merchant service facilities and invoice payments. MYOB's payment solutions division will continue operating the payment gateway.

The acquisition includes the existing RentPay system, website and customer base of more than 6000 renters.

Rent.com.au chief executive Greg Bader said the company would continue to improve on the system and focus on delivering front-end changes that customers expect.

"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," he said.

 

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