What is PayTo?
Australia is transforming the way people and businesses make payments through PayTo
PayTo is a modern alternative to traditional direct debits, allowing businesses to initiate payments directly from a customer’s bank account with their authorisation. Unlike direct debits, PayTo provides customers with more control and visibility, as they can view and authorise payment agreements through their online banking app.
KEY BENEFITS OF PAYTO
- Customer Control: Customers can see all active PayTo agreements in their banking app, making it easier to manage recurring payments.
- Transparent and Secure: PayTo provides transparency by requiring upfront authorisation for each payment agreement.
- Fast and Reliable: Payments are processed in real time through the NPP, ensuring funds are available to businesses immediately after each transaction.
PayTo is ideal for subscription payments, bill payments, and other recurring transactions, offering an improved experience for both businesses and customers.