Bendigo Bank completes roll out of PayTo

Developed locally using the real time payment capabilities of the New Payments Platform - the same system used for secure PayID and instant Osko payments between individuals - PayTo is a new, digital way to pre-authorise one off or recurring payments directly from a bank account.

Bendigo Bank customers can now access PayTo through their existing online or mobile banking to authorise or pause the payment of bills, subscriptions, and one-off purchases.

PayTo delivers customers more control over payments that come directly from their bank account and allows them to manage these within the convenience and security of their online or mobile banking.

For businesses, PayTo removes the uncertainty of making and receiving payments from bank accounts, offers real time account validation and is a smarter, more reliable way to support payments.

Ryan Brosnahan, Chief Transformation Officer, Bendigo and Adelaide Bank, said the addition of the PayTo service will allow the Bank’s customers greater control of payments they make from their accounts.

“At Bendigo Bank, we’re committed to creating connected, seamless customer experiences. As one of the first Australian banks to roll out PayTo to our customers, we believe this new capability will help them better manage their payments,” Mr Brosnahan said.

“Whether you’re a customer paying a utility bill or a business looking for an alternative to direct debit, PayTo’s accuracy and instant payments will give consumers and businesses alike more real-time control over the payments they make.

“And, as PayTo agreements can be found in your internet or mobile banking app, your information is protected by the same level of security as the rest of your banking data.

“The swift roll out of the PayTo service to our Bendigo Bank customers is another example of the progress being made on the Bank’s digital transformation, which remains focused on delivering and embedding digital capabilities, and reducing complexity.”