Australian real-time payments

Australia’s payment sector is rapidly expanding, integrating best practices from around the world to build their New Payments Platform (NPP), designed to be real-time by default. 

Volt’s advanced payments platform is based on the NPP’s PayTo® payment scheme, and is a prime opportunity for all merchants to tap into millions of new Australian customers.  Supporting single and recurring payments using the same integration, PayTo is set to revolutionise the way Australians pay – from e-commerce to point of sale.  Don’t miss out on the chance to be part of this thriving market; partner with Volt for a seamless integration experience!

What is PayTo®?

PayTo is a modern digital payment solution developed in Australia, offering a fast, easy and secure way to pay. It gives consumers more visibility and control over their payments, and enables merchants and businesses to initiate real-time payments from their customers’ bank accounts.  Launched in 2023, it is quickly becoming a popular choice for payments, facilitating real-time 24/7 merchant-initiated transactions, even on weekends and holidays.  PayTo can also support recurring transactions, which will enable Volt to launch a new one-click payment and support for subscription-type payments later in 2024.   

The key features of PayTo

  • Real-time account validation – when a PayTo agreement is created, the account is validated in real-time, reducing errors and exception processing. 
  • Real-time funds verification – at the time a payment is initiated, available funds are verified to ensure the payment can be made.
  • Easy reconciliation – PayTo agreements contain additional information and data to support easy matching and reconciliation.
  • Supported by APIs – working with your financial institution or payment service provider, PayTo can be supported by APIs to deliver a seamless process.
  • Notifications at each stage of a payment – notifications when an agreement is paused, changed or cancelled will help your business maintain customer relationships.
  • Free of charge for shoppers – PayTo is shopper-friendly, with no fees for the shopper – offer Volt’s Pay by Bank as your no-cost option when using dynamic surcharging for your card payments. 

More about PayTo can be found on the official website:

Volt payments in Australia

  1. The shopper chooses PayTo® Instant Bank Transfer at checkout.
  2. The shopper enters their PayID® (or BSB and an account number if they don’t yet have a PayID).
  3. A one-off payment agreement is automatically generated, based on the transaction amount.
  4. The shopper then simply approves the agreement using their mobile bank app or online banking platform.

Once approved, the funds are instantly transferred to Volt’s account.  Each transaction is assigned a unique ID for easy reconciliation.  

Settlement to merchant

Volt will then settle all the payments in bulk to your bank account, leaving funds available for instant refunds if required.