Take control of payments from your bank account
PayTo is a fast, efficient, and secure way to digitally pre-authorise payments from your bank account.
The New Payments Platform (NPP) enables banks, building societies and credit unions to support PayTo for their payer customers from mid-2022. Once available, PayTo will roll out progressively, as merchants, businesses and third parties such as fintechs offer PayTo as an alternative payment method.
View and manage payments from your bank account, giving you up to date, real-time visibility of your payments.
An easier way to make payments from your bank account. You can use either a PayID or a BSB and account number, making it simple to set-up a payment on the spot.
Manage your PayTo transactions and agreements within the security of your existing online or mobile banking, enabling you to keep track of your payments from the one place.
PayTo agreements are stored centrally in a secure and encrypted database managed by NPP Australia, the organisation that operates and oversees the New Payments Platform.
The initial step is to pre-authorise a PayTo agreement. This agreement contains the payment terms agreed between the payer customer and the business or merchant.
Among other uses, PayTo could be used as a fast and efficient alternative to the current direct debit system. It supports a range of different payment types, including fixed or variable payment amounts and payment frequencies.
A new payment service
is set to modernise the way Australian businesses
use bank accounts for payments.
It’s being developed by the Australian financial services industry,
using the world-class, real-time payment capabilities
of the New Payments Platform.
a new digital way to pre-authorise payments –
whether one-off or recurring –
directly from a bank account.
PayTo keeps people and business moving.
For payer customers,
it means having more control over payments
that come directly from their bank account.
PayTo a phone bill, flights or music subscription
and then see and manage these
within the security of your existing online or mobile banking.
Here PayTo agreements can be viewed,
moved or stopped from one place…
making life that little bit easier to manage.
PayTo removes the uncertainty of making
and receiving payments from bank accounts.
It's a smarter, more reliable way to support payments,
offering real-time account validation
and notifications at various stages of a payment.
Whether you’re a merchant receiving payments for goods and services…
A business that outsources payroll…
Or a fintech that relies on money moving quickly…
PayTo’s accuracy and instant payments means your business
can run that little bit smoother.
PayTo is set to offer the payments industry
a platform for future innovation.
To find out more, visit: payto.com.au