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A new digital payments service that enables you to pre-authorise one-off or recurring real-time payments from an eligible bank account to a Merchant, business or institution. It’s an alternative to the current direct debit system and will be available;
PayTo gives you visibility and control over payments from your eligible bank account. You can see all your PayTo Agreements with the bank in one secure place. You can also pause, resume or cancel a PayTo Agreement through your Internet Banking.
PayTo arrangements are an agreement between you and an authorised third party – a business, Merchant or institution. That third party creates the PayTo Agreement in a safe, secure way. You then provide explicit authorisation for that real-time payment to be made from your Internet Bank account before any payments are processed.
scheduled, recurring payments
subscription services
service providers, e.g. payroll, accounting
in-app payments
in-store payments
one-off payments.
Both you and authorised third parties (businesses and Merchants) can access PayTo functions to ensure PayTo Agreements are accurate, appropriately managed and up to date.
Certain information can be amended after a PayTo Agreement is created.
view your PayTo Agreements
accept or decline a new PayTo Agreement
cancel, pause or resume a PayTo Agreement
change or update your PayTo Agreement account information
You can cancel a PayTo Agreement at any time. Once cancelled, a PayTo Agreement can’t be used to initiate any further payments. Cancelling an agreement does not change any contractual arrangement between you and the third party initiating the payment.
PayTo Agreements and their associated payments can be paused. A paused agreement can be reactivated by the party that paused it.
Member pre-authorisation is at the heart of PayTo:
The business or organisation that wants to initiate a payment(s) creates a digital PayTo Agreement that includes details of the payee business, your details (payer customer) and payment terms.
This process includes a validation step to ensure your nominated bank account is valid and can be accessed via PayTo.
You will receive notification via SMS and/or email to login to your Internet Banking account to authorise the PayTo Agreement.
Once you provide that authorisation, the digital PayTo Agreement is stored in a database managed by NPP Australia Limited, the organisation that oversees the operation of PayTo on the New Payments Platform
After a PayTo Agreement is set up and authorised, the payee party, either via their financial institution or PayTo sponsoring organisation, can use the PayTo Agreement to initiate payments from your nominated bank account.
PayTo is available for members with the following accounts.
S1 – Everyday Direct
S2 – Bill Paying account
Click here for more information and FAQs about PayTo or the NPP.