Category Archives: News

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New security feature for B2Bpay

New Security Feature for B2Bpay

We have launched Multi-factor Authentication in B2Bpay. This provides an additional layer of security, on top of email address and password.

We are pleased to announce that we have set up Multi-Factor Authentication (MFA) to provide yet another layer of security when accessing your B2Bpay profile.

This means that all of our users will be prompted to set up Multi-Factor Authentication after entering their email address and password when they first log in to their profile.

Once this has been set up, you will be prompted to authenticate your own profile each time you log in. If using the Google Authenticator or Microsoft Authenticator apps, you can select the ‘Remember me’ box and you won’t be asked for a MFA code for 30 days if you are using the same device on the same network. 

You can choose one of the following methods of authentication (we suggest the Google or Microsoft Authenticator apps for the top level of security):

Google Authenticator App

Simply download the Google Authenticator App to your phone. If you don’t already have the app, go to your App Store or Google Play and search for, then add it.

In B2Bpay, select ‘Google Authenticator’ as your preferred MFA method. This will display a QR code. You can scan this code from within the Google Authenticator app which will set up authentication for your B2Bpay profile.

Then you simply need to open the app and enter the code provided when prompted when you log in to B2Bpay in the future. 

Microsoft Authenticator App

Simply download the Microsoft Authenticator App to your phone. If you don’t already have the app, go to your App Store or Google Play and search for, then add it.

In B2Bpay, select ‘Microsoft Authenticator’ as your preferred MFA method. This will display a QR code. You can scan this code from within the Microsoft Authenticator app which will set up authentication for your B2Bpay profile. 

Then you simply need to open the app and enter the code provided when prompted when you log in to B2Bpay in the future. 

Email

If you select Email as your preferred MFA method, this will enable you to have a code emailed to your registered email account each time you log in.

There is the usual potential for emails going into ​Spam or Junk folders.

More tips for keeping your business profiles secure online

We’ve compiled some other top tips on how to keep your logins secure across your profiles below. 

1. Never use the same password on multiple websites or systems


Using the same password across different sites is a surefire way to decrease the security of a password. If a hacker determines your password for one site, they’ll be equipped to access more of the websites and systems you use without any extra work on their part. The simplest way to avoid this scenario is to not only use stronger passwords, but distinct ones for each and every website or system you use. 

2. Don’t use personally identifiable terms


Sure, using your children’s or pet’s name makes it easy to remember a password. But it makes them easy to hack, too.

Hackers can find out these easily by mining your social media profiles, and odds are that personally identifiable information will be the first thing they will try if they’re attempting to log into your profiles. Avoid using this info in passwords and opt for something that’s harder to guess instead. 

On a related note, always be mindful of what you share online. Giving away too much personal information via your social media profiles makes it easier for hackers to gain access to your profiles.

3. Avoid using common words or phrases


That means “Password,” “12345” and “qwerty” are out. Also remember to avoid using easily identifiable information such as your partners name, your wedding date and so on.

4. Use different types of characters


Instead of opting for just letters or just numbers, opt for a mixture of characters — including ones such as %, @, $, numbers, uppercase and lowercase letters, and so on.

5. Make it long


Longer passwords take significantly longer to crack (we’re talking the difference of weeks or even years!), so opt for eight characters at an absolute minimum; more than 15 is ideal if you’re serious about stronger passwords.

6. Always enable multi-factor authentication


Although we have switched on Multi-factor Authentication  at B2Bpay (to help keep your B2Bpay profiles secure), with other websites you may have the choice to add this extra layer of security.  Enabling two-factor authentication will make it much more difficult for hackers to access your profiles, and give you peace of mind that they are secure. 

7. Never save or share passwords


Never save your passwords or check the “remember me” box when you’re using a public computer. Better yet, try to avoid logging into personal profiles unless you’re on a private device.

Avoid sharing your passwords with other people whenever possible. If you have a written list of passwords to help you remember them, avoid storing this list on your computer or phone.

Because electronic devices are hackable, this means you could potentially put all of your profiles at risk. If you must keep a list of passwords, use pen and paper and store the list in a secure place. Avoid writing down your stronger passwords at all.

8. Use a password manager


If you’re struggling to manage your stronger passwords (now that you’ve got them), consider using a password management system. 

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Amex Pay with Points

Pay any business bill using your Membership Rewards Points - Amercian Express SafeKey

Use your Amex Membership Rewards points when paying business bills.

B2Bpay has partnered with American Express to enable its Card Members to ‘Pay with Points’ when paying bills. 

Use your Membership Rewards points when paying any bill including tax, supplier invoices, super, rent and more. Choose points only, or a combination of points plus payment, using your card. 

20,000 Membership Rewards = $100 worth of bills paid.

Why pay bills with points?

How do you pay with points?

Log in

Log in to B2Bpay and click 'Make One-Off Payment' or click a 'Pay by B2Bpay' link on your supplier's invoice.

Enter payment details

Select (or add) the biller your wish to pay and follow the steps to make the payment

Use your Amex

Select or enter your American Express card details then agree to the terms and press 'Pay Now'

Use Points to pay

The American Express SafeKey popup will give you the option to use points to pay. You can choose to use points only or a combination of points plus payment

All done

Complete your payment

American Express will charge your card for the full transaction amount, and within 72 hours will raise a statement credit for the points portion of your payment.+ 

Your customers can pay you with points too

If you sign up to accept payments through B2Bpay, your customers or clients can now pay your invoices with points too. ‘Pay with Points’ gives your customers a new option to pay you and helps them boost cash flow and pay you on time.

This is available to Australian businesses at no cost and is easy to implement on Xero, MYOB or QuickBooks invoice templates. 

Want to know more?

If you need assistance setting up to use B2Bpay and/or paying with points, give our Sydney based team a call on 1300 205 575

Using Membership Rewards® Pay with Points with SafeKey®

Using Pay with Points with B2Bpay: 
Pay with points with B2Bpay is available when on and when you, the primary card member, pay bills using the one-off payment page on the B2Bpay Customer Portal. Pay with points is also available on all B2Bpay biller’s ‘Pay Now’ payment pages (including integrated Xero, MYOB and QuickBooks pages) that are hosted by B2Bpay (the URL will start with pay.b2bpay.com.au) and on websites using the B2Bpay Payment Plugin. 

Eligibility to‘Use points to pay with SafeKey’: 
You can‘Use points to pay with SafeKey’if You are the Primary Card Member of an Australian issued American Express® Card; Your Card is enrolled in the Membership Rewards programme; and Your Card account is in good standing (i.e. not overdue or in collection). Supplementary Card Members are not eligible toUse points to pay with SafeKey. 
 
+Using ‘Use points to pay with SafeKey’: 
The minimum redemption value is 1,000 Membership Rewards points. The maximum points redemption is the lower of the total transaction value or the total Membership Rewards points. The number of rewards needed for a credit may vary over time. The points required for the credit value will be displayed during the redemption process, prior to submission. 
 
The full transaction amount will be charged and appear on your account and the statement credit for the value selected will appear within 72 hours of the charge (this may not be the full transaction amount). The credit may not appear on the same statement as the full charge. In this case, you must still pay the amount due on your statement, and the credit will apply to charges on your next statement.

 

^ Membership Rewards points are subject to the Terms and Conditions of the Membership Rewards program available at https://www.americanexpress.com/en-au/rewards/membership-rewards/terms

General 
Returns & refunds. If required, contact B2Bpay for refund eligibility but remember, payments cannot be refunded after funds have been forwarded to your biller. If you do subsequently obtain a refund, the refund amount will apply to your Card account. Membership Rewards points are not reimbursed automatically. In the event of a refund, you may keep the credit, but if you prefer reimbursement of Membership Rewards points, please call American Express on the number on the back of your Card. 
The card terms and conditions continue to apply when youUse points with SafeKey. You must continue to make payments as outlined on your Statement of Account and in your Card Member agreement, even when you ‘Use points to pay with SafeKey. All Membership Rewards points are subject to the Membership Rewards Terms and Conditions availablehere.
American Express may change or suspend the ‘Use points to pay with SafeKey’ feature for any reason and at any time without prior notice, including when a Card account is not in good standing (overdue or in collection). 
For more information, see Pay with Points FAQ’s at: https://www.americanexpress.com/content/dam/amex/au/benefits/use-points-with-safekey/faqs.pdf 


B2Bpay is owned and operated by Zenith Payments Pty Ltd, a leading payment processing business based in Balmain, Sydney. Payment processing and merchant acquiring facilities are provided by Westpac, American Express, Diners Club and other leading financial institutions. More details about  Zenith Payments.

A standard and tax-deductible credit card processing fee (from 1.2% excl. GST) or a bank account processing fee (0.65% excl. GST) applies to all payments and the applicable fee will be displayed when you set up a biller and/or when you make a payment.

*A business must be a Qantas Business Rewards Member to earn Qantas Points for business. A one-off join fee of $89.50 including GST normally applies, however this will be waived for B2Bpay customers  using this link. Membership and Qantas Points are subject to the Qantas Business Rewards Terms and Conditions. Qantas Points for business are offered under the  B2Bpay Customer Terms and Conditions. Members will earn 1 Qantas Point for every $7 paid to the ATO by card, 1 Qantas Point for every $10 paid to all other billers by card, and 1 Qantas Point for every $3 paid to a biller by bank account.

^^Members can also earn up to 3 Qantas Points per $1.50 paid to B2Bpay Bonus Billers. See B2Bpay website for a list of current B2Bpay Bonus Billers. 

Qantas Points will be credited to the Members’ Business Rewards account by the 14th day of the month following the eligible spend. Any claims in relation to Qantas Points under this offer must be made directly to B2Bpay by emailing  [email protected]. Businesses must ensure the ABN registered with Qantas Business Rewards is saved in the B2Bpay customer profile or entered online when paying in order to earn Qantas Points. Qantas Points earned using B2Bpay will be credited to the Members’ Business Rewards account by the 14th day of the month following the eligible spend as outlined in the B2Bpay Customer Terms and Conditions. 

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Keeping on top of cash flow during Covid

Top 5 tips to keep on top of cash flow during Covid-19

If you own a business or manage a business’s finances, you know that staying on top of cash flow is the key to keeping a business running. This is constant battle for most businesses but throw Covid into the mix which for many businesses means less money coming through the door, and it gets even tougher! 

We’ve put together five tips for riding out a cash flow slump to keep your business in the black and ready to go for the future.  

Tip 1. Use your credit card strategically

You have probably heard about the “up to 55 day interest free period your credit card offers. But what exactly does this mean and how do you take advantageThe reason it always says “up to” is because the amount of interest free days available depends on what day of your billing cycle you make the purchase. For examples you would get 55 days interest-free on purchases made on the first day of the billing cycle, 54 on the second day and only 1 day interest free if you made a purchase the day before your statement was issued for that billing period. 

To be eligible to receive interest-free days, you also must repay your account’s outstanding balance in full by the due date on your statement. 

So how do you know what your billing cycle is so you can take full advantage? Each credit card has different rules but you should be able to find your Statement Period on your Credit Card Statement – each statement period runs for about 30 days and there is then 25 days from when your statement period finishes to the payment due date (hence 55 days). 

See below example of a Statement period that runs from the 15th June.

15th June

Statement period begins.

16th June

Make a purchase for 55 days interest free.

30 June

Make another purchase for 40 days interest free.

15th July

Statement period ends.

9 August

Payment due date. Pay closing balance in full.

30 day Statement Period

25 more days to pay

0
Days in total

Eligible Purchases 


Don’t forget interest free days only apply for eligible purchases made on your card. Exclusions typically apply for government payments (eg. paying the ATO directly) and some other bill payments. To make sure your Interest free period applies to these purchases too, use B2Bpay as the spend will then be classified as “General Spend”.  

What if a supplier doesn’t accept credit card payment? 


Again, this is where B2Bpay can help. You can use B2Bpay to pay ANY supplier, regardless of whether they accept card payment or not. This is because you pay your bill with credit card using B2Bpay, and we transfer the payment by EFT to your supplier. This means that you can turn every bill into one that maximises your cash flow. 

The take aways?  

Tip 2. Cut Costs

This is a good one to focus on if your business has needed to slow down or shut down during Covid. It gives you a chance to take stock of anything you have been paying for that you don’t need. 

For example, are you spending money on subscriptions or services you are no longer using? Or do you have insurances you no longer need? Can you renegotiate the terms of outstanding loans or leases? Are you monitoring stock levels at efficient levelsTake a good hard look at a few month’s expenses for your business. Print it out if you can so you can analyse and tick each item off. Look for anything you could cut out or renegotiateThis is something that takes time and brain power that you often don’t have the capacity for when you are knee deep in your everyday business activities. But if you take the time out to take stock and complete this admin task, you could be saving serious dollars over the long run.  

Tip 3. Ask for payment extensions

To stay cash flow positive means you need to keep cash coming in as quick as possible, while holding back on expenses for as long as possible. 

One way you can do this is to work closely and build strong trusting relationships with suppliers who can offer flexible payment terms. That way you can negotiate and maximise payment terms when you need to.

If a payment is due in 30 days, see if you can extend it to 45 and don’t pay any earlier. And if you’re paying by card, time payment early in your Statement Period to provide you an extra 55 days interest free on the payment (see tip 1). Just remember to not leave it to the last minute to request an extension on payment. Make sure you are always looking ahead at upcoming bills. 

Tip 4. Talk to your bank

The Government’s SME Recovery Loan Scheme is designed to support Australia’s economic recovery, by allowing eligible businesses to access finance as JobKeeper is now phased out.  

This scheme is designed to help small to medium sized enterprises (SMEs) get access to cheaper funding, with the government guaranteeing 80% of eligible business loans

Most bank lenders and many non-bank lenders are taking part and are also offering repayment holidays for up to 24 months as part of the scheme. Loans include term loans, overdrafts, working capital facilities, leases and hire purchase agreements. Different criteria will apply depending on the individual business and the lender. Get in touch with lenders to find out what options they have to suit your business cash flow and situation.

Tip 5. Get your invoices paid faster

We will say it again. Keeping on top of cash flow is all about ensuring you keep cash coming in as quick as possible. 

Some ways you can do this is to always make sure you send invoices as soon as the work’s completed or products are delivered. Use invoicing software to ensure it is easy to do this by sending out templated invoices on the go. And don’t let restrictive payment methods stop your cash flow! By accepting all major credit and debit cards as payment optionsallows your customers to manage their cash flow options too and pay you online 24/7

You can sign up to B2Bpay to accept card payments on your invoices at no cost to you! Click here to get started today.  

Michael McCarthy
Michael McCarthyB2Bpay Customer
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Extremely happy with the B2Bpay service. It has given me the ability to offer my clients another payment option. Previously I was only able to offer direct debit, now my clients can pay by their cards. The staff and service I have received in helping me set this all up has been exceptional!
John Nettle
John NettleNettle Construction
Read More
B2Bpay works well within our business, It is easy to set up payments and to make recurring payments including to contractors who would not normally accept payment via credit card.
Stuart White
Stuart WhiteTotal Access Solutions
Read More
B2Bpay is a great way to pay suppliers, even if they don't accept card. We've even put it on our invoices as a handy payment option for clients to pay us.
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How this Real Estate company was able to travel to Port Douglas entirely with Qantas Points

City Residential Real Estate was established in May of 2007 without a single property to its name and has since grown to manage 400 properties. City Residential now comfortably occupies the niche of inner-city real estate, thanks to their expertise within the Melbourne CBD market. Despite the scale of its portfolio, City Residential remains a family run business that takes a uniquely personal approach to the real estate business. 

“We treat every client’s property as if they were our own and make an effort to know each and every landlord,” says Glenn Donnelly, Managing Director and Sales Consultant. 

As many small business owners experience, managing back-end business tasks can often be time consuming, overwhelming, and ultimately costly. Specifically in an industry such as real estate, keeping track of incoming payments can quickly become an administrative nightmare. 

“I find using the B2Bpay system is easy by having the ability to navigate through each payee’s history of bills,” explains Donnelly.  

Streamlining workflow is made significantly easier with B2Bpay, as B2Bpay can be connected with a business’ accounting software like Xero, MYOB or QuickBooks to accept card payments directly from the invoices created in the software. This means clients can make payments by simply clicking a button on your invoices, which directs them to a secure payments page that is branded with your business logo.. Businesses love that when a customer pays their bill, this is automatically recorded in their Accounting Software.  

However, one of the greatest advantages according to Donnelly and many other B2Bpay businesses, is the ability to earn Qantas Points on all business payments. This includes both making and receiving business payments. businesses are able to cover travel expenses, and even arrange for travel upgrades thanks to the Qantas Points earned simply from making and receiving their regular business payments. 

“My current Qantas frequent flyer account has never been as high as it has since using B2Bpay, with over 500,000 points to my name.” 

In fact, recently Glenn was able to head to Port Douglas and fund the trip entirely with the points earned from using B2Bpay! 

Get Started with B2Bpay Today 

Start accumulating reward points for simply for collecting and making your business paymentsSetting up a B2Bpay account is easy, and free!  Click HERE to sign up to make payments for free.  

If you are interested in receiving payments and earning Qantas Points, click here to get started. Alternatively, talk directly to our Sydney-based B2Bpay customer support team by contacting us at 1300 205 575.

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EOFY Tips for Small Business 2021

With the end of the financial year fast approaching, here are 5 quick tips to get you prepared for EOFY.

  1. Be aware of tax changes: Many tax changes come into effect at the start of a new financial year. Check ATO and chat to your accountant for the latest news on tax changes.
  2. Check your superannuation is in order by 30 June: Businesses must ensure that they are paying superannuation for their employees and all payments are completed before 1 July. Business owners should be aware of the cash flow implications and make plans accordingly. Check on Superannuation Policy.
  3. Get your paperwork up to date: Having the right paperwork will help you streamline the EOFY process. Some examples of records you need to have on hand are:
    • Receipts for sales and purchases
    • A statement of you B2Bpay credit card processing fees which can likely be claimed as a tax deduction – click here for instructions on how to easily access this.
    • Tax returns, activity statements and employee super contributions
    • GST returns and Business Activity Statements (BAS)
  4. Manage your deductions: It is important to know what you can claim. One of the best tax breaks for many businesses is the instant asset write-off, which offers a means to acquire capital assets and obtain an immediate tax deduction. Examples of ‘assets’ put forward by the government include coffee machines, forklifts, tractors, freezers and labellers. The scheme was due to expire on June 30, 2022, but Treasurer Josh Frydenberg announced in the Federal Budget that it will now continue until June 30, 2023. You can read more about it and how you can use B2Bpay to take advantage here. There is also now no cap on the scheme, which originally has a cap of $150,000 for purchase.
  5. Other COVID-19 relief: Other government initiatives such as JobKeeper Payment may impact your EOFY tax situation. For latest information, refer to General COVID-19 support for businesses and employers

This content was put together for information purposes only. The Content does not constitute tax and/or legal advice and should not be relied upon as such. You should seek tax, legal or other professional advice before acting or relying on any content.

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Cyber Security tips – how to protect yourself and your business

Protecting your business from the dangers of the internet can seem overwhelming and extremely complex. As businesses increasingly rely on technology, stringent measures in cyber security and protection are also necessary. 

Cybercrime does not discriminate. Nor is it uncommon. Every organisation’s computer and online networks are susceptible to hackers, viruses, email phishing, malware and ransomware attacks.  

According to a recent Australian Cyber Security Centre survey, small businesses report a cybercrime incident every 10 minutes. The estimated cost of annual losses from cybercrime is upwards of $300 million.  

Usually, financial damage is only one consequence of cyberattacks. Businesses can also suffer from loss of reputation and diminished goodwill, leading to customer turnover. Rebuilding customer relationships and market share ends up costing more than just time and money.   

Keeping your business data and network safe and secure doesn’t need to be overcomplicated. Below, we list our top 5 cyber security tips on what you can do to stay protected and prevent cybercrime and malicious internet attacks.  

Keep passwords strong and long 

As a business has multiple employees using multiple devices to log into multiple websites or to access different software, it can be quite tempting to choose a generic password. However, strong passwords are a must. Not only to secure to ensure outsiders can’t gain access to your software and websites, but to ensure that critical customer information, like payment details, are kept private. Periodical reminders to change them are also important.   

Stuck on what to use? Make sure your password is:

  • Long. Use at least 14 characters, we find that stringing a series of random words put together works perfectly
  • Memorable but unique. Use an uncommon or unusual phrase or combination of words that only you will remember, and a hacker wouldn’t know. 
  • Complex. Use a mix of uppercase and lowercase letters, as well as special characters and numbers. 
  • Unpredictable. If hackers know personal details such as the name of your pets, they can use this information toguess your password. Don’t use easily obtainable information such as birthdays, current addresses or your spouse’s name and personal information. Avoid natural number or alphabet sequences such as abcd1234 
  • Random. Forget pet names or favourite foods. Create a password that’s unexpected. Need inspiration? Think of a memorable incident from past places you’ve lived or visited or a particularly fun memory from your childhood.  

When it comes to sharing passwords with employees, there’s a few rules to consider: 

  • Limit access. Only give password information to relevant staff who need access to that platform or device.  
  • Use password protection software. A password storage and sharing tool can keep relevant employees updated as passwords change to keep access restricted. It also hinders employees from sharing passwords casually among the team. 
  • Password storage. Do not keep a document that lists all your passwords. Do not send passwords via email as well. If an employee’s email account is compromised, ‘password’ is the first thing that hackers will search for. 
  • Set regulations and guidelines. To keep all company devices safe and protected, let staff know the criteria they need to meet in setting their passwords. Create a guideline sheet with password and cyber security requirements and pass it around the team, ensuring everyone has a copy at their desk. 

Educate and train your team  

Expanding on our last point in setting guidelines for the team, make the time to train staff on the company’s policies and procedures for cyber security. 

Training sessions are a great opportunity to educate employees about the dangerous realities of cyber threat. It’s also essential that staff members are made aware that they all play an important role in keeping your business safe. 

Training sessions should include discussions about: 

  • The importance of maintaining strong passwords 
  • How to identify and prevent cyber threats 
  • The possible kinds of cyber threats that can occur 
  • What to do when a cyber threat occurs 
  • How and to whom they should report a cyber threat 

Remember staff also need to be regularly updated with any company policy or procedural changes. Annual or quarterly training sessions will help keep cyber security as a high priority among your team. 

Have a data back-up strategy  

While the task may seem a daunting, backing up data is highly critical for any business. It can save you from critical data loss, as well as financial ruin.  

Once a strategy for data back up and storage is established, making it a regular procedure is straightforward. Depending on your business requirements, there’s a few considerations: 

  • Back up often. Ideally, you want to back up regularly. This can be daily with incremental back-ups to a portable device or cloud storage. Furthermore, you could look into a server back-ups at the end of each week, month and year.  
  • Keep storage devices off-site. Don’t risk having physical storage devices being damaged or robbed. Think about where you can store your data in a location that is at a safe distance from your office.  
  • Regular checks. Make sure that your data is easily restored. It’s one thing to have it stored away, it’s another if you can’t retrieve it again.  

Keep software up-to-date

Outdated software may not only cause disruption and delays. Without regular updates, your network and devices leave can be exploited. Your business is left vulnerable to potential hackers.  

Updating software regularly and proactively also ensures that potential exploits are dealt with ahead of time and your systems are kept secure.  

Schedule updates after business hours or another convenient time when employees are less likely to be online if downtime on certain software is an issue. Updates will potentially fix security vulnerabilities and flaws. This is also a great time to check if there have been any cyberattack attempts.  

Security solutions for financial data  

When it comes to important financial data like payroll or taking and making payments, there is no room for risk. But where to begin? Here are some important pointers: 

  • Use encryption. Converting data into another form or code, or sending information over the internet, encryption keeps information secure. The codes keep the data confidential as it transfers through networks. Once it reaches its authorised recipient, the code is deciphered or unscrambled. Encryption can be used to add an extra layer of security for internet and computer networks as well as data. 
  • Use MFA (Multi-Factor Authentication). As a verification security process, MFA requires the user to provide two or more proofs of identification for access. For example, a user may require a password and a code sent to their mobile before given access. MFA can be used for highly confidential documents, company online payroll, accounting and payment systems.   
  • Software Security Certification. For businesses that rely heavily on ecommerce or provide online services, securing their website with SSL/TSL certification is critical. Information transferring between your website to the server is usually in plain text, leaving it vulnerable for hackers. SSL/TSL certification provides end-to-end encryption, securing your data. 

B2Bpay: The Secure Payment Solution 

When it comes to paying and taking payments online, it’s important that your system is efficient and saves you from paperwork. More importantly, you need to safeguard your company’s data and financial information. It is wise to ensure you have thehighest cyber security and protection.  

B2Bpay is an online payment portal for businesses to pay all their bills using their existing credit cards, debit cards or bank account. Completely secure and safe, all cards are tokenised meaning B2Bpay never stores card numbers in full.    

As a B2Bpay Biller, you can email invoices securely, and your customers can pay with ease on your secure payment page, resting assured their card details are protected. 

Alongside its security features, B2Bpay offers a range of other benefits for your business: 

  • Earn credit card points AND Qantas points when paying business expenses. 
  • Earn full points when paying ATO, government and utility bills. 
  • Use your credit card’s up to 55-day interest free period, helping boost cash flow. 
  • Save time and integrate your accounting software – XERO, MYOB or QuickBooks. 
  • Easy and secure to use on multiple devices. 
  • Tracking and monitoring transactions from any device at any time. 

The B2Bpay solution is Level 1 PCI DSS (Payment Card Industry Data Security Standards) Certified, meaning you don’t need to worry about credit card compliancy issues. Reaching all Australian business standards and requirements for credit card data security management, your business and customers are well-protected with B2Bpay.  

B2Bpay’s maximum security features give business owners confidence and peace of mind, knowing that whether it’s making or taking payments, nothing gets lost or stolen, and their customer payment information is kept secure 

B2Bpay: Keeping you, your business and customers cyber safe and protected 

When it comes to the security of your business data, there are no compromises. Give your employees and customers confidence that B2Bpay will protect their details with every transaction. 

Sign up for FREE today. If you have questions or need further information, contact our locally based Customer Support team on 1300 625 647 

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How This Tapas Bar Earns Travel Rewards for Paying Its Suppliers

Kipling’s Wine Bar is one of Turramurra’s most popular destinations to taste an extensive variety of vintage wines, and enjoy shared plates ranging from pulled pork croquettes to roasted figs in a relaxed atmosphere. However, this unique location has an interesting history beyond the ordinary tapas bar. The now chic, modern space was in fact once a thriving petrol station on Sydney’s North Shore. Today, its large garage wall serves as an ambient floor-to-ceiling window, where guests can dine comfortably inside the restaurant while seated on leather sofas arranged near an ornate tiled bar or gathered with friends outdoors in the sunny courtyard.  

For managing director Helen Thompson, one of the most challenging aspects of keeping this lively tapas location running has nothing to do with the busy nights of guests dining, but instead comes from managing regular payments to creditors. 

“We created a weekly pay run to pay our creditors and we set this up in B2B as a bulk payment, allowing enough time for payee terms. Previous bulk uploads have been arduous and clunky, but now that we use B2B this process seems pretty seamless as soon as creditors have been verified.” 

In addition to using B2Bpy to set up bulk payments, Helen has also appreciated the ease of connecting B2Bpay with her accounting software, Xero. Now that she’s connected, she can view all her bills she has entered in Xero in B2Bpay and can simply click and pay. Businesses such as Kipling’s Garage bar save time and admin costs with the smooth automatic reconciliation of connectingB2Bpay with their accounting software. 

Helen has also benefited from the ability to earn Qantas Points with every eligible payment the business makes, using preferred suppliers to maximise points earning. (If a supplier is registered as a Bonus Biller with B2Bpay, you can earn up to 3 Qantas Points per $1.50 on payments.) And because Kiplings Garage Bar is known for its wide selection of wines from across the world, including Australia, Europe and Latin America, travel is an important part of the business to gain inspiration. Helen has used the rewards points the business earns to pay for both business travel and staff incentives. 

“In the future, we would like to continue in this vein once things get back to ‘normal’ and we can move about the country more freely,” Helen explains. 

Get Started Today 

Getting a B2Bpay account set up is easy, and free! Click HERE to sign up and start earning Qantas Points for making business payments. Alternatively, talk directly to our Sydney-based B2Bpay customer support team by contacting us at 1300 205 575. 

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2021 Federal Budget providing a boost for Small Biz

The federal budget was announced on 11 May 2021 and provided a range of measures to help small business owners and businesses recover from the impact of COVID-19 and boost business confidence. Here is an overview of the announcements that are likely to have a positive impact on small businesses.

Tax

  • Corporate tax rate for SME’s will drop from 27.5% to25% from 1 July 2021.
  • The government has also extended its temporary full expensing of depreciable assets for business, with turnover or income below $5 billion. The measure introduced in last year’s budget will be extended for another 12 months until 23 June 2023.
  • The temporary loss carry-back scheme will be extended by one year, allowing eligible companies to carry-back tax losses from the 2022-23 income year to offset previously taxed profits as far back as 2018-19 income year. Companies with aggregated annual turnover of up to $5 billion can apply tax losses incurred during previous years to offset tax paid in 2018-19 or later years.
  • Small craft brewers and distillers will benefit from an increase in the cap for claims on the Excise Refund Scheme from $100,000 to $350,000 from 1 July 2021.
  • The Government announced increased rights for small businesses to pause the collection of disputed debts. Small businesses can now have the confidence and peace of mind that they will be able to pause ATO debt recovery actions until their case is decided by the AAT. For more detail visit https://budget.gov.au/2021-22/content/factsheets/download/factsheet_tax.pdf

Instant asset write-off to be extended and limit lifted

  • One of the best tax breaks for many businesses is the instant asset write-off, which offers a means to acquire capital assets and obtain an immediate tax deduction. Examples of ‘assets’ put forward by the government include coffee machines, forklifts, tractors, freezers and labellers.
  • The scheme was due to expire on June 30, 2022, but Treasurer Josh Frydenberg announced in the Federal Budget thatit will now continue until June 30, 2023. You can read more about it and how you can use B2Bpay to take advantage here.
  • There is also now no cap on the scheme, which originally has a cap of $150,000 for purchase.

Financial incentives for employing staff

  • The government has also extended its temporary full expensing of depreciable assets for business, with turnover or income below $5 billion. The measure introduced in last year’s budget will be extended for another 12 months until 23 June 2023.
  • $1.2 billion towards the Boosting Apprenticeship Commencements Wage Subsidy program, which will cover 50 per cent of wages, up to $7,000 per quarter for 12 months, paid to an eligible apprentice or trainee between 5 October 2020 and 30 September 2021.

Superannuation

Other Measures

  • Removal of current exclusion that applies to deductions for the first $250 spent on education courses, which will give more business owners (and their employees) a reason to learn new skills.
  • Almost $130 million to encourage entrepreneurship through the New Enterprise Incentive Scheme (NEIS) and Entrepreneurship Facilitators Program support people who want to start, run and grow their own business.

Visit the budget website https://budget.gov.au for more details on the 2020-21 Federal Budget.

Boost your small business even further by using B2Bpay

Taking advantage of the simplicity of B2Bpay can help your business to:-

  • Earn full credit card reward points on any business payment including purchases and also be rewarded with Qantas Points
  • Improve cash flow by making use of the 55 days interest free period by using card
  • Make seamless, hassle-free payments, freeing up admin time for you and your staff
  • Set payments as one-off, automatic or future dated
  • Keep accurate records on all purchases and payments, making tax time easier
  • Earn credit card reward points and bonus Qantas Points with every payment, even utility bills, rates and ATO payments

Source: Budget 2021-22 Securing Australia’s Recovery https://budget.gov.au/

This content above was put together for information purposes only. The Content does not constitute tax and/or legal advice and should not be relied upon as such. You should seek tax, legal or other professional advice before acting or relying on any content.

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How to Maximise Your Points: Pay for All Business Spending with a Rewards Card

Credit cards are an essential tool for businesses looking to conveniently and easily make purchases, and to boost cashflow. However, their value does not end there. If you choose a credit card strategically, you’ll be able to earn significant rewards. The key to maximising your points, and earning more rewards is quite simple: use your rewards card to pay for ALL your business expenses.

How to Choose the Right Credit Card 

It’s important that you research the right credit card for your business. Be sure to understand credit card offerings in the market that will allow you to maximise your rewards points. When comparing cards, consider the following:  

  • Points-to-dollar ratio 
  • Sign up bonuses 
  • Interest-free days (the set number of days in which you won’t be charged any interest, if you pay off your monthly balance in full) 
  • Complimentary features included with the card such as concierge, airport lounges etc. 
  • Interest rates and fees 
  • Points caps (limit imposed by the card provider on the number of points you can earn in any given month or year) 
  • Points expiry rules and timeframes 
  • Other card offers such as cash backs or discount when you spend with certain retailers 

 Additionally, some credit cards offer more rewards when you spend in specific categories but if this doesn’t appeal to you, there are many cards that simply offer a set earning rate on all spend. 

Pay for Everything on Credit Card 

If your business is paying stock, contractors and supplier invoices with bank account funds, you are missing out on the opportunity to rapidly boost your points balance. Remember, you can earn points on every transaction you make regardless of the amount. 

From small incidental purchases like your quick flat white on the way to workpetrol or shouting lunch for a client, use your credit card rather than cash or your debit card. Whilst these are small dollar value transactions, you’ll be surprised to see how these regular transactions add up to lots of points over time. 

Use B2Bpay To Earn More Points on ALL Payments 

Although tax payments have traditionally been paid by bank account or directly by card with reduced points earnt, B2Bpay provides the opportunity for business owners to make these substantial ATO payments, with ease, and earn full credit card points* and Qantas Points# on top! 

 In fact, you can use B2Bpay for many bills such as rent and utilities to earn FULL credit cards rewards points and Qantas Points. Many card issuers reduce or eliminate the number of points you can earn on these purchases.  

Earn More Points Through Our Special Offers 

In addition to earning full credit card points when paying business bills with B2Bpay, you will also earn Qantas Points on all eligible payments#! You will earn: 

  • 1 Qantas Point for every $7 paid by card to the ATO 
  • 1 Qantas Point for every $10 paid by card to other billers 
  • 1 Qantas Point for every $3 paid by bank account 
  • Up to 3 Qantas Points per $1.50 paid to B2Bpay Bonus Billers 

 Use Your Points for Flights to Maximise Points Value 

One of the greatest advantages of earning Qantas Points is the ability to use them for flights, upgrades, and other travel bookings with Qantas and its partners. Qantas makes it super easy for you to move points From Qantas Business Reward over to an individual’s Frequent Flyer account. You simply head over to the Qantas Business Rewards website and log in to the Transfer Points page.  

You can choose who you want to transfer the points to by entering the recipient’s name and Qantas Frequent Flyer number.  

How One Small Business Affords Travel Upgrade 

For Victoria-based Collinson’s Vacuum Packing, Qantas Business Rewards makes staff travel much more affordable. Collinson redeems points on flights, upgrades and accommodation for business trips and has even previously used them to fly his family to Japan for a Christmas holiday. 

Using B2Bpay – a secure online portal – the business earns Qantas Points when it pays bills and even when it receives payments, if a customer pays by Xero invoice. “Paying bills through internet banking is a long, tedious process but B2Bpay is fast and easy to use. Plus, we get rewarded for it,” says Collinson. “Some of our suppliers are Bonus Billers, so we can earn up to 3 Qantas Points per $1.50 on payments.” 

Collinson also uses a Qantas Points-earning business credit card to rack up even more points on top. “We always try to get the maximum points because it’s good for our business.” 

Get Started with B2Bpay 

Setting up a B2Bpay account to pay your bills is easy, and free! Simply fill out an online set up form so we can verify business details.  

 Click HERE to sign up for free. Alternatively, talk directly to our Sydney-based B2Bpay support team on 1300 205 575. 

 

# Use a Qantas Points earning credit card to earn points on every payment. Card products referred to are not issued by Qantas but by the relevant Card partners. The applicable Card Partner is the credit provider and credit licensee under the National Consumer Credit laws. Points are offered by the relevant Card partner and partner reward program and can only be earned on eligible purchases. Contact the relevant Card Partner for terms and conditions or enquiries.  

*A business must be a Qantas Business Rewards Member to earn Qantas Points for business. A one-off join fee of $89.50 including GST normally applies, however this will be waived for B2Bpay customers  using this link. Membership and Qantas Points are subject to the Qantas Business Rewards Terms and Conditions. Qantas Points for business are offered under the B2Bpay Customer Terms and Conditions. Members will earn 1 Qantas Point for every $7 paid to the ATO by card, 1 Qantas Point for every $10 paid to all other billers by card, and 1 Qantas Point for every $3 paid to a biller by bank account. Members can also earn up to 3 Qantas Points per $1.50 paid to B2Bpay Bonus Billers.See B2Bpay website for a list of current B2Bpay Bonus Billers. Qantas Points will be credited to the Members’ Business Rewards account within 90 days of the eligible spend. Any claims in relation to Qantas Points under this offer must be made directly to B2Bpay by emailing [email protected]. Businesses must ensure the ABN registered with Qantas Business Rewards is saved in the B2Bpay customer profile or entered online when paying in order to earn Qantas Points. Qantas Points earned using B2Bpay will be automatically credited to your linked Qantas Business Rewards account within 90 days of your eligible spend as outlined in the B2Bpay Customer Terms and Conditions. B2Bpay Billers will earn 1 Qantas Point for every $20 of customer payments made by customers using VISA or Mastercard via the Public WebPay payment portal supplied by B2Bpay (an ‘eligible payment’) and featured on the Biller’s invoice or statement template. Excludes failed or refunded payments and may not be available to businesses on enterprise or special pricing plans. Qantas Points will be credited to the Members’ Business Rewards account within 90 days of the eligible spend. Any claims in relation to Qantas Points under this offer must be made directly to B2Bpay by emailing [email protected] 

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Cashflow Series: 5 Tips to Manage and Improve Cash Flow in a Small Business & Instant Write-off Update

Cash flow management is key priority for any business. Effective cash flow guarantees that businesses continue operating with adequate funds for growth, as well as the means to pay salaries, suppliers, and bills on time. It is crucial to meet your financial obligations, and having low cash reserves causes stress on any business.  

Fortunately for Aussie business owners, the Australian government has recently announced an update for instant write-offs, meaning eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used (or installed ready for use)Below, we’ll discuss how to best utilise these instant write-offs for your business, in additional to several of our other top cash flow tips. 

 

What is the update for instant writeoffs? 

An instant write-off allows small businesses to claim immediate deductions up to a given amount for new or second-hand assets purchased, such as office equipment, vehicles, and other tools. In light of the COVID-19 and impact on Australian businesses, as of 12 March 2020, the instant asset tax write-off has been raised to $150,000 (up from $30,000) for those with an annual turnover of less than $500 million (up from $50 million). This is providing the asset was purchased by 31 December 2020, and first used, or installed for use, between 12 March 2020 until 30 June 2021.  

The amount you can write-off will depend on when the asset was purchased and the associated threshold amount (the cost of the asset must be less than the threshold). It is important to note that the cost of the asset includes both the amount you paid for it and any additional amount spent on transporting the asset, improving it or installing it for use. To see your eligibility, you can check the ATO website for further details. 

 

Cash flow Tip #1 – Take advantage of the instant write-offs 

Always be sure to consult with your accountant or tax advisor to assess how an asset will benefit your business before purchasing. However, you should be sure to make the decision based on the needs of your business if you’re considering taking advantage of the instant write-offs. Would this purchase be in line with your business plan? Do you have enough cash flow to support the purchase/s? Can you have the asset either operational or ready for use in this financial year? If so, now may be a wise time to purchase in terms of staying cash flow positive. A good example might be purchasing a vehicle for deliveries to expand your business operations to help achieve your business goals. 

 

Cash flow Tip #2- Use Credit Cards to Make Payments 

There are other strategies you can employ to improve your cash flow. Namely, using your business credit card to cover expenses that you would normally cover with cash or cheque, you can free up additional cash for the costs that can’t be covered by card. Extending your cash flow becomes a whole lot easier when you are able to take advantage of your card’s interest-free days, which means you can make payments in advance of receiving funds if necessary. Provided the balance is paid off by the end of the interest-free period, you’ll be able to stay on good terms with your suppliers even while extending your cash flow.   

A business credit card can also be helpful for spreading out large business expenses while keeping finance costs low. This can often work out to be more cost-effective than an up-front financing plan with a business loan. Having more money accessible and in your account day-to-day sets you up to more efficiently be able to cover unforeseen costs and to expand your business. 

Additionally, many credit cards offer rewards programs, which can help with business expenses. You’ll be able to use rewards points to pay for a range of business expenses and may even receive extra bonus points for certain types of purchases.  

If you sign up to make payments with B2Bpay, you’ll be able to pay ALL of your bills using your credit card (as well as by debit card or bank account), regardless of whether or not the biller accepts card payments. With B2Bpay, you’ll also earn Qantas Points or Credit Card reward points from your card issuer on all business bills paid, including full points on payments for ATO, government, telco and insurance. With many cards, you’d earn no points or reduced points when paying these expenses directly. And in addition to boosting cash flow by taking advantage of your card’s up to 55-day interest free period, you’ll save money with digital payments because of the reduced paper-based processing, admin, approval overheads and banking costs. Sign up to start making payments with B2Bpay here 

 

Cash flow Tip #3- Get Paid on Time 

Many businesses have a high percentage of their monthly revenue held up in accounts receivable. Ensuring a strategy for steady cash flow is crucial for having sufficient cash on hand to pay bills and suppliers on time, as well as to maintain employee salaries and purchase new capital assets.  

If you want to ensure you’re getting paid faster and on time, offering an online card payment option is essential. Offering multiple digital payment methods gives your client more options, such as payment by debit card or bank account, allowing clients to take care of payment easily and instantly. 

When accepting payments through B2Bpay, you’ll reduce payment chasing, and be able to get paid online, 24/7, at no cost to you. ‘ Pay Now’ link on all your invoices will enable you to get paid and as all your invoices will be linked to a branded payment page, where your customers can pay you online, faster with any card. Payments will be made using your customer’s nominated card, and funds will be transferred to you by EFT or BPAY within 3 business days. Plus, you’ll earn Qantas Points simply for getting paid on eligible business payments. Click here to start receiving card payments from your business customers.  

 

Cash flow Tip #4: Utilise Accounting Software 

Accounting software allows you to track your cash flow and easily streamline your payments, all in one place. Speed up cash inflows by emailing invoices directly from your accounting software, using a mobile app to process bills on the spot, and regularly check accounts receivable. You can slow down cash outflows by automating tasks, such as setting reminders for bill payments and automatically invoicing regular customers. 

B2Bpay offers integrations with XeroQuickbooks, and MYOB to allow you view all of your invoices in B2Bpay to click + pay, pay all of your invoices using credit card, and save time with automatic reconciliation. Find out more about our software integrations here. 

 

Cash flow Tip #5: The Big Four 

There are four key factors to take into account when managing cash flow, which include: staff hours, improving sales, managing inventory, and managing costs of operation.  

If you have a physical location where you sell a good or service, a temporary reduction on operating hours can help save cash in both overhead expenses and also payroll. You might also consider postponing any outsourced work, or temporarily reassigning this work to employees to complete.  

Effective inventory control can also boost your cash flow, as holding too much inventory stock ties up cash that could be invested in other areas of the business. To avoid a loss of sales, be sure to provide adequate stock to align with customer demand. Inventory software will allow you to review previous sales trends in order to determine which items are most popular vs those that are slower-moving, and provide clear indication as to which inventory you should stock up on. It might also be a prudent choice to investigate if you can get any inventory cheaper, or if you buy in bulk if you can get a reduced cost. A lot of business owners can set and forget inventory, missing out on a valuable opportunity to save on expenses. 

When it comes to reducing costs of operation, begin by cutting overhead waste. Review your software and subscription fees, energy costs, etc. Consider offering part-time or virtual work options to downsize your physical office space. And audit your supplier agreements, to see if you can negotiate more favourable deals.  

 

Cash flow BONUS Tip #6: Seek Professional Advice 

Consult and speak with a financial adviser prior to starting a new business. Small business owners often find themselves responsible for taking on many different roles and acting as the virtual head of a variety of different departments. Aexperienced financial advisor would be designated to help assess the viability of your business model and outline new strategies and timelines to meet your goals and accelerate your business’ growth and success. They can make help you to make your business more efficient and profitable by focusing on actions that deliver results. Plus, they will prepare your business for future developments and different phases of business growth, allowing you to handle these new challenges confidently. 

While no single strategy works for every business, choose one (or several!) that best suits the needs of your brand. Adopting a new approach may very well get your cash flow up to speed, allowing your company to survive and grow even during times of financial instability.  

To use B2Bpay to save money and get paid on time, be sure to reach out to our locally based Sydney team at 1300 205 575Or, click here to sign up for B2Bpay for free.