What is PayTo?

PayTo is a digital way for businesses and merchants to initiate real-time payments from their customer’s bank accounts. It provides customers with more visibility and control over their payment arrangements through an enhanced, digital customer experience.

PayTo is an easy, fast way to manage payments that are coming from your bank account, within the security of existing online banking. PayTo offers the ability to view and manage PayTo agreements in one place.

How does PayTo work?

PayTo works something like a direct-debit, but allows the customer a great deal more control. A PayTo agreement contains the payment terms agreed between the payer customer and the business or merchant. PayTo agreements are pre-authorised within a payer customer’s banking channels, most likely their internet banking, where they can also pause, resume, or cancel a PayTo agreement.

Using a PayID or account number and BSB, the payee sends an authorisation request for a new bill, subscription or online purchase. The PayTo agreement may then be authorised or declined and future updates made, simply and securely within the internet banking service.