PayTo: Five Things Merchants Will Love

PayTo is set to revolutionise the way Australians pay for things directly from their bank accounts. Here are five reasons why we think merchants and business will love PayTo.

What is PayTo?

PayTo enables merchants to initiate pre-authorised payments directly from their customers’ bank accounts like a smart, secure and real-time direct debit. 

PayTo will fundamentally change the way merchants and customers connect, engage and transact. Freed from ageing payment rails, money will move seamlessly and pre-authorised between bank accounts as it should. Consumers will have more visibility and control over when and where their payments are going, and the annoying and costly friction points of traditional direct debit will be a thing of the past for those who embrace it.

PayTo offers the set-and-forget benefits of direct debits and credit cards with a decreased risk of missed payments and fraud. It’s revolutionary in the way it delivers a single, flexible, secure payment solution connecting merchant and customer bank accounts without the delays and limitations of traditional payment methods.

Zepto co-founder and Executive Director Solutions, Ian Lennie, is a fan.

PayTo will fundamentally change the way money moves. This is a once-in-a-generation opportunity to change the way in which payments are initiated, agreed to, and protected so that we can build the payment experience of tomorrow's economy.

Ian Lennie

Payto will bring a raft of benefits to both merchants and consumers. Here are five key benefits that we think merchants should understand.

01 More Successful Payments

PayTo will increase successful payment collection as everything is automated, verified, customer pre-authorised and moves in real-time.

02 Data & Smarts

PayTo's real-time account validation, notifications at various stages of payment, and confirmed funds verification in customers’ bank accounts when a payment is initiated eliminates dishonours for good.

03 Let's Get Digital

No more paper agreements, drastically reduce back-office admin and reconciliation busywork.

04 Keep Customers Close

The superior customer experience of seamless payments without having to leave the merchant’s digital environment.

05 Insights in Real-Time. All the time.

PayTo provides visibility when a customer pauses, changes or cancels a PayTo agreement, providing the insight needed for timely engagements to maximise payment success.

PayTo supports a range of use-cases including one-off retail purchases, as well as recurring payments like premiums, memberships, subscriptions or loan repayments. Designed for digital experience, PayTo allows customers to link their bank accounts to apps and digital wallets –– think trading and gaming platforms –– enabling real-time account top-ups directly from their bank accounts.

Why Choose Zepto for PayTo?

As a Connected Institution on the New Payments Platform (NPP), Zepto is unhindered by intermediaries between it and Australia's modern, real-time payment rails. This frees Zepto from the limitations that come with connecting to the underlying payments infrastructure through a 3rd-party, and allows Zepto to innovate beyond the base PayTo framework and offering.

Merchants who integrate with Zepto for PayTo can expect a classic Zepto, light-touch integration, best-in-class payment flows and experience throughout their entire onboarding journey. 

Significantly, too, we have conducted extensive merchant and consumer research to ensure their valuable insights inform our PayTo product roadmap and ultimately deliver the payment experience they expect and value.

Speak to Zepto today about our PayTo advantages and give your business and your customers the world class account-to-account payment experience they deserve.

Curious about what PayTo means for consumers on the flipside? DOWNLOAD Zepto’s nifty one pager HERE.

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