We are excited to announce that we are now offering PayTo as a secure and fast way to pay directly from your bank account. It’s a new option that allows payment without a card.
PayTo is a new digital payment service that enables you to pre-authorise one off or recurring real-time payments from an eligible bank account to merchant, business or institution. It’s a modern alternative to the current direct debit system.
This new system gives you visibility and control over your banking. You can see all your PayTo Agreements with Unity Bank in one secure place. You can also pause, resume or cancel a PayTo Agreement through your internet banking.
PayTo arrangements are an agreement between you and an authorised third party like a merchant, business or service provider. That third party creates the PayTo agreement in a safe and secure way. You then need to approve this payment via your internet banking before this real-time payment is processed.
Use PayTo for your bills, holidays, gym membership, media subscriptions and much more.
Manage PayTo agreements easily within the security of your existing Internet Banking.
See all the PayTo agreements you’ve set-up from your bank account together in the one spot, including status, date, amount and who the payment is for.
See when your payments are due, so you have enough funds in your bank account to avoid late payment fees or charges.
For example – you join a gym; they ask for your account details, and you give them your BSB and account number (your 9 digit account number) or your PayID. The gym creates a PayTo agreement and the details appear in your internet banking for you to review and approve. You can also see that agreement and all its details with the options to pause, cancel or resume it at your discretion. This can all happen in person, at a digital checkout, or on the phone.
Please note, any signatories on your account will also receive notifications of any PayTo Agreement approvals and changes.
You can use PayTo to make payments with any participating merchant, business or service provider. So that’s everything from subscription services and utilities providers, to food deliveries, groceries, and more.
Here’s the logo to look out for:
PayTo is an initiative from NPP Australia. The NPP is fast payments infrastructure built by the Australian financial services sector.
© 2021 NPP Australia Limited. ABN 68 601 428 737. All rights reserved. PayTo is a registered trademark of NPP Australia Limited.