PayTo allows NPP-enabled account holders to digitally pre-authorise one-off or recurring real-time payments from their bank account.
This authorisation is captured as a digital payment, referred to as a PayTo Agreement. It offers a better alternative to direct debit payment rails, because:
- Funds will be debited, settled and cleared immediately, no more waiting 1-3 business days.
- Customers are provided with more visibility and control through an enhanced, digital experience via their bank.
- Real-time direct debits provide an alternative to cards, removing expensive merchant fees and delays in funds settlement.
PayTo benefits
Businesses:
- Real-time account validation
- Real-time funds verification
- Real-time notification of payment
- API support
- Easy reconciliation
Consumers:
- Fast, secure payment options
- Greater visibility and control over payments from bank accounts
- Manage PayTo agreements through internet or mobile banking
- Choice of either PayID or a BSB and account number for maximum flexibility
More information
We’ve put together some useful information on PayTo:
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article