How the choice of payments system can help you through the crisis

March 23, 2020
Share

‍

The Coronavirus is forcing us to adapt to new ways of going about our every day, at least for a while. Now more than ever, small businesses need to lower overheads, improve cashflow and look after the health of their customers and staff. How can improving your payments process help achieve this?

What you can do as a customer
Support your local business and help protect them from the virus. Set up digital payment methods such as Apple Pay or GooglePay to pay at restaurants and cafes when ordering takeaways, without needing touch and transfer germs between devices. These digital wallets generally don’t require actual tapping. It’s enough to be within centimeters of the terminal for the payment to work and no PIN is required.

What you can do as a business
If your business takes cash on delivery, ensure you have set up your PayID to receive your money instantly without actually using cash. With casual workers at risk of losing income, ensure you are set up to get paid at the time when you need it, no waiting.

What is Pay ID?
PayID is a simple service that makes paying money into your account easier. You can create a PayID by choosing something easy to remember, like your phone number, and registering it with your bank. This means you do not have to share your BSB and account number, simply share your PayID.

How can it be set up?
Simply register your PayID with your bank

Get in contact with us.

‍

Related Articles

Building a Fairer Financial Future: How Brolly and Monoova are Powering Community-Driven Lending

Together, Brolly and Monoova are reshaping the way Australians access credit - empowering communities to support one another while unlocking new opportunities for everyday lenders and borrowers alike. Brolly is pioneering a new era of peer-to-peer lending in Australia - one where financial opportunity is shared, circular, and accessible. With Monoova powering its payments backbone, Brolly can focus on what matters most: building a fairer financial future for everyday Australians.

Future-proofing payments in the insurance industry

The financial landscape in Australia is on the brink of a monumental shift, driven by mandatory regulatory changes. For the insurance industry, this change marks a significant turning point. Incorporating real-time payments into the insurance sector is about more than just compliance—it’s about delivering superior value to both customers and insurers.

Monoova: Get to know us

The problem of wasting time and money when managing cumbersome payments and reconciliation processes.

Australia's Financial Innovation Strategy 2026: What It Means for Fintech and Payments

The Australian Government released its Financial Innovation Strategy, outlining how technology, data, digital infrastructure and financial innovation will shape Australia's financial system in the years ahead.