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.
If you are looking for other fast growing companies, read this report about The Disruptors.
