PayTo is a service that’s been developed by the NPPA (New Payments Platform Australia) that businesses, service providers and merchants can opt in to. Essentially, it’s a digital way for customers to pre-authorise payments from their bank accounts in real time, for things like utilities, subscriptions and memberships.
What’s a PayTo payment agreement?
Also called a payment agreement, it’s an agreement you have with a merchant or service provider to debit your bank account according to the terms you’ve authorised (like a direct debit). It’s a contract that you can manage online in real time – so you can leave that paperwork behind.