Payment Adviser and Cuscal today announced a new partnership to deliver Australia’s first superannuation online transaction service in support of small business owners.
The service will benefit Australia’s two million small to medium enterprises (SMEs) by enabling secure, online payments for all employee superannuation contributions.
Payment Adviser head of sales and marketing, Brad Rosenthal said with the new system, employers will be able to make regular electronic superannuation payments with “greater confidence, enhanced efficiency and at a vastly reduced cost.”
Adrian Lovney, Cuscal’s general manager of business development, strategy and people said there was a need among small business owners for a super system that saves them time and money without risks or set-up costs.
“By helping SMEs avoid painstaking cheque writing and manual postage to pay employee super…our easy to implement solution will cut red tape and inefficient practices,” he said.
The new superannuation clearing house service will be rolled out progressively, commencing with SME customers from a handful of superannuation funds in the next few months and then more broadly to the market in 2010.
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