Why Myob Group Ltd is targeting this $1 billion market opportunity

Myob Group Ltd (ASX: MYO) estimates that last year’s acquisition of payment services company Paycorp could open up a new market worth over $1 billion.

This is according to a presentation made by the company at the Macquarie Group Ltd (ASX: MQG) conference in Sydney. An integrated accounting and payments solution is a real value add for Myob users as it makes their internal processes much easier through the automation of payment services.

Foolish takeaway

While I think there is real value in the payment services, I think drawing out this value in other payment areas such as e-commerce might be difficult to implement.

Even if the proposed Myob acquisition of Reckon Limited (ASX: RKN) goes through, my preference would still be Xero Limited (ASX: XRO) which has been growing at a much faster rate.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia owns shares of Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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