PayTo is the new, digital alternative to direct debit payments

Save time, money and improve cashflow with the real-time, secure, data rich features

Simplify the way you work with direct debits
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What is PayTo?

PayTo is the smarter, mandated alternative for businesses to initiate real-time payments from their customers' bank accounts.

PayTo delivers real-time account validation and funds verification, immediate reconciliation with NPP and instant notifications of payment outcomes, removing the uncertainty and long wait times of traditional direct debits. Plus, eliminate costly dishonours for both recurring payments and one-off payments.

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PayTo for Business

PayTo is here and will change the way your business initiates real-time payments from your customers' bank accounts.

It’s the smart way to do business, with real-time, reliable payments to help your business streamline your operations:

  • Improve your cashflow with real-time transactions and funds verification.

  • Reduce errors and exception processing with real-time account validation.

  • Get notified when a payment agreement is paused, changed, or cancelled.

  • Simplify reconciliation with the additional data in PayTo agreements making matching easy.

PayTo will enable your businesses to make money move swiftly and securely 24/7.

PayTo for Customers

PayTo gives your consumer a better customer experience. Easy to establish and simple to manage, PayTo reduces admin whilst increasing control.

PayTo features give more visibility to your customer:

  • Easily access and manage PayTo agreements in their internet or mobile banking.

  • Recurring payments, such as bills and subscriptions can be paid directly from their bank account in real-time.

  • Fast and simple new payments can be set up using PayID or BSB and account number.

The result is less uncertainty for both your business and your customer as each party knows the status of digital agreements at bank level.

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PayTo Use Case

Early adopters are already benefiting from PayTo. Since switching to PayTo with Monoova for their direct debits, Wagepay are successfully streamlining their pull payments in real-time, reducing wait times and costly dishonours.

Download the Use Case

What our clients say

"PayTo has enhanced our platform by providing an integrated payment experience. The authorisation process gives clients more control of their money and takes them to the next level of efficiency and ease."

Tim Wu
Head of Product, Webull

"The key benefit of PayTo is that cash flow component. With PayTo, you send through the request, receive and approve PayTo transactions, and you get the funding within the next couple seconds or so. That flow of funds is crucial for any business."

Tony Chan
CEO and Founder, Wagepay

Want to learn more about PayTo?

Chat to the experts in PayTo. Fill out the form and one of our team will reach out.

PayTo will lift your customer experience

Speed, convenience and efficiency are among the most important elements of a great customer experience. With PayTo you can achieve, secure, real-time, reliable direct debit payments that not only help your business run more smoothly but also brings those CX goals to life.

Want to learn more about PayTo? Our PayTo Sandbox is live.

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PayTo FAQs

How Does PayTo Work?

Developed by New Payments Platform Australia, PayTo works on a contract between the payer (the customer) and the payee (the business). At the core of PayTo is customer pre-authorisation of a PayTo agreement. PayTo agreements can be pre-authorised within a customer’s usual internet or mobile banking, where PayTo agreements can also be paused, resumed or cancelled. Once the agreement is approved, the payee can deduct funds straight from the payers bank account based on that agreement.

What are PayTo agreements?

Payment agreements contain the terms of the agreement like the amount and frequency of the payments that must be agreed to between the payer customer and the business or merchant before payments can be made. It’s a contract that customers can manage online through the convenience of their online banking platform.

How can PayTo be used?

Merchants can offer PayTo as an alternative payment method for a variety of products and services, such as subscriptions, online or in-app purchases.

Businesses can use PayTo to authorise third parties to manage payments on their behalf, such as payroll and accounts payable.

Third parties such as fintechs and payments service providers, can incorporate PayTo into their own service offerings to broaden their payment capabilities.

Where can I use PayTo?

NPP enabled banks, building societies and credit unions, and payment service providers, are in the process of rolling out PayTo for their payer customers. Once available, PayTo will roll out progressively from merchants, service providers and other users that have opted to integrate PayTo. View of full list of banks that have currently switched on PayTo here.

When can I get access to PayTo for my business?

PayTo is now live. Switch on PayTo for your business with Monoova. Contact us for more information.

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