Australian business software provider MYOB has partnered with Mastercard to pilot agentic payment technology, exploring how artificial intelligence could automate financial decision-making and help small and medium-sized businesses better manage cash flow, bill payments, and administrative workloads. The pilot, believed to be among the first of its kind in Australia, combines Mastercard’s Agent Pay capabilities with MYOB’s business management platform to create an AI-driven payment experience designed specifically for SMEs.
AI Agents Take on Routine Financial Tasks
Under the proposed model, business owners can establish rules and payment preferences, allowing AI-powered agents to determine which invoices should be paid, when payments should be made, and which payment method is most suitable based on available cash flow and business priorities.
The goal is to reduce the time and effort required to manage day-to-day financial operations while maintaining transparency and control over business spending.
The initiative targets one of the biggest challenges facing small businesses. According to MYOB’s latest Business Monitor research, more than a quarter of Australian SMEs identify cash flow management as a major source of business stress. Data from the Australian Securities and Investments Commission (ASIC) also highlights cash flow issues as one of the leading causes of small business failures.
Agentic Payments Gain Momentum
The pilot reflects growing industry interest in agentic AI, where intelligent software agents move beyond providing recommendations and begin executing tasks on behalf of users within predefined controls.
Applied to payments, the technology could enable businesses to automate routine financial decisions while continuously monitoring cash positions, payment schedules, supplier obligations, and preferred payment channels.
For SMEs, this could mean fewer missed payments, improved cash management, and reduced administrative burdens, allowing business owners to focus on growth rather than back-office operations.
Payments Industry Eyes Next Phase of Automation
The collaboration builds on the existing relationship between MYOB and Mastercard and follows MYOB’s recent expansion into Open Banking services. Together, the companies are exploring how AI, payments infrastructure, and financial data can be combined to create more intelligent business finance tools.
While the technology remains in the testing phase, the pilot offers a glimpse into how agent-driven commerce could reshape financial operations for millions of small businesses over the coming years.
As the supporting ecosystem matures, agentic payments are increasingly being viewed as the next evolution in business automation, moving beyond digital payments toward systems capable of making and executing financial decisions in real time.
What This Means for the Industry
- Agentic AI is beginning to move from experimentation into real-world financial workflows.
- SMEs could benefit from automated payment management and improved cash flow visibility.
- AI-driven payments may reduce administrative workloads and support faster decision-making.
- Mastercard is positioning agentic payments as a future growth area for commercial transactions.
- Business software providers are increasingly embedding AI directly into core financial operations.
