A modern alternative to direct debit
PayTo solves many of the current challenges with direct debit to deliver improved outcomes for businesses and consumers
Reduce exception processing
When a PayTo agreement is set up, the account is validated in real-time, so you can be sure that the account details are correct. You will also receive notification when an agreement is paused, changed or cancelled
Customer authorisation within internet or mobile banking
PayTo agreements are authorised in the customer’s internet or mobile banking app, so you can be confident that the customer’s authorisation has been verified
Real-time payment processing
PayTo payments are processed in real-time, every day, 24/7, with confirmation of payment outcomes helping to improve business efficiencies and cashflow
PayTo solves many of the current challenges with direct debit
Direct debit today
Uncertainty of receiving payments with no upfront validation of customer’s account details
Slow payment processing
Limited data
Direct debit agreements must be self-stored for seven years
Account holder’s authorisation not verified
No visibility of customer cancellations or changes to bank account details
PayTo’s solution
Real-time account validation when setting up a PayTo agreement
Real-time payment processing and confirmation of payment outcomes
PayTo agreements contain more information and data
Centralised, secure, digital storage of PayTo agreements which are readily accessible
Confidence that the account holder has authorised the PayTo agreement
Notification when a PayTo agreement is paused, changed or cancelled
Improved outcomes
Increased confidence in receiving payments and reduced exception processing
Improved cashflow and processing efficiency
Better matching and easier reconciliation
Less administrative burden, reduced overheads
Reduced fraud and unauthorised payments
Reduced exception processing and improved customer relationship management