Bendigo Bank has today launched its new PayTo digital payments service delivering new levels of control and transparency for its online and mobile banking customers.

PayTo is a novel, digital means to pre-authorize one-time or recurring payments straight from a bank account. It was created locally utilizing the real-time payment capabilities of the New Payments Platform, the same system used for secure PayID and immediate Osko payments between individuals.

Customers of Bendigo Bank can now utilize PayTo to authorize or delay the payment of bills, subscriptions, and one-time purchases through their currently online or mobile banking accounts.

Customers may handle payments that are made directly from their bank account with more control thanks to PayTo, and they can do it in the comfort and security of their online or mobile banking.

PayTo is a better, more dependable approach to enable payments as it eliminates the uncertainty associated with sending and receiving payments from bank accounts. PayTo also provides real-time account validation.

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,”

“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.”

                  Ryan Brosnahan, Chief Transformation Officer, Bendigo and Adelaide Bank.