It's here: the new way to manage real-time payments

PayTo is a revolutionary new service allowing businesses to initiate real-time payments from their customers’ bank accounts.  It ensures payments will be more efficient and less complicated for businesses and consumers and Zai will allow businesses to plug seamlessly into the PayTo service.

Read our article, Introducing PayTo - Australian payments made better to find out more.

Efficient and secure

Instant account-to-account payments

  • Funds debited, settled, and cleared immediately
  • Reduce risk of fraud with real-time customer verification
  •  24/7, real-time notifications of payment outcomes
  • Simplified and instant reconciliation
  • Cost-effective alternative to accepting credit and debit card payments
Flexible and convenient

PayTo for your customers

  • Fast, secure payment option
  • Greater visibility and control over payments from their bank accounts
  • Ability to manage PayTo agreements through their banking portal
  • Use their PayID to set up PayTo payments to be more convenient

PayTo use cases

Here are some of the use cases for which PayTo would bring immediate benefit:

Companies that want faster payments and less market exposure

Under the current system, a direct debit takes one to three days to clear. However, even a few hours of delays are massively consequential if, for example, you need to convert currency and send it onwards or fund your market account.

For example, remittance companies that offer FX exchange often have to go out to the currency market and enter into short-term forward contracts. These hedges are meant to cover market exposure between when the payer’s debited funds hit your market account and when you can execute the conversion.

With PayTo, the funds can enter your market account and immediately go out for exchange at (close to) the market rate. PayTo vastly shortens the entire remittance process, reducing market exposure and, more crucially, getting the funds to the people who need them.

Trading, investing and banking apps and other financial services companies are in a similar situation. For users on these platforms, their objective is to trade when they see an opportunity. As stocks and cryptocurrencies trade almost around the clock, being able to fund your account and execute your strategy immediately is a huge benefit of PayTo.


Companies that are trying to reduce their reliance on costly credit cards

Payment cards are a double-edged sword. On the one hand, users love them because they’re convenient and have some layer of security. On the other hand, businesses have to pay a hefty premium to accept them.

Direct debits in their current form offer an alternative cheaper solution, but they take up to three days to settle and aren’t convenient for the customer.

PayTo brings together the benefits of both the credit card and direct debit, but offer instant settlement and are more cost-effective than credit cards

It’s also worth noting that PayTo’s centralised mandate depository also improves UX by making it easier for payers to validate a new payment with PayID. This convenient method reduces a lot of the friction associated with the older direct debit system, making the PayTo experience closer to that of a credit card for the end user.


Power your PayTo workflows

Find out how Zai's best-in-class, API driven solution can help your business access the PayTo service.