PayTo
PayTo® is Australia’s next-generation bank transfer technology, enabling businesses to initiate real-time payments from their customers bank accounts. Businesses can send payment agreements to customer PayID’s that define the details terms of payment. Customers can then review and approve the agreement through their banking app, with payment instantly debited according to the payment terms.
Benefits for your business
Verify customers’ account and take the first payment in real-time, reducing failed sign-ups and fraud.
Confirm that a payment has been successfully completed and get the funds straight away.
Get notified if a payment succeeds, fails, or if a customer pauses or cancels an agreement, enabling you to take immediate steps to retain business.
Information about customers, invoices and products is embedded in PayTo agreements. This can help you match incoming payments automatically in your systems.
Benefits for your customers
PayTo agreements can be seen and managed in one place, and transferred between financial institutions so customers always have a record of their payments.
Payments are taken out of customers’ bank accounts in real-time, which can help them stay on top of their money.
Businesses can only see a customer’s PayID (mobile number or email address) when they pay, which ensures their account details and personal information stay private.
Payments are protected as they’re approved within online banking, a secure environment that reduces the risk of fraudulent transactions.