Create PayTo agreements for authorisation by payer customers.
Send authorised payment initiation requests to the payer customer’s financial institution.
Perform certain maintenance functions for PayTo agreements including amending, pausing, resuming, and cancelling.
PayTo will roll out gradually from mid-2022
How will it work?
Once available, sponsors will provide access to PayTo through proprietary channels or services such as APIs.
Through this one sponsorship agreement, PayTo Users will be able to initiate payments from all accounts that are enabled for PayTo on the NPP in Australia. The industry expects that most customers will have PayTo enabled on their accounts by mid-2023.
Sponsorship of a PayTo User is subject to a proprietary commercial arrangement with the sponsoring organisation. For more information on which organisations offer PayTo services, please contact firstname.lastname@example.org.
PayTo supports a broad range of payment initiation use cases. Some examples of PayTo Users include:
Merchants and billers
Businesses and creditors offering PayTo as a payment option to customers Including online, in-person and in-app payments
Payment service providers (PSPs)
PSPs providing merchants and businesses with payment services and wishing to include the PayTo service Including payment gateways and payment processors
Outsourced service providers
Third parties and cloud accounting software providers managing outsourced processes Including payroll and accounts payable
PayTo enables businesses to thrive in a digital economy with fast and secure payments 24/7