Australia’s payment sector is rapidly expanding, integrating best practices from around the world. Volts advanced, real-time system, fueled by PayTo, is a prime opportunity for all merchants to tap into millions of potential Australian customers. 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. PayTo facilitates 24/7 transactions, even on weekends and holidays. More about PayTo can be found on the official website: https://payto.com.au/.

The key details 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.

How Volt payments work in Australia

1. The shopper chooses PayTo via Volt at checkout.
2. The shopper enters their PayID or BSB and an account number.
3. A one-off payment agreement is automatically generated based on the transaction amount.
4. The payer then simply approves the agreement using their mobile or online banking.

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