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Westpac opens up PayTo capability to billers

08:00am April 03 2024

From left: Jeff Byrne, Westpac's Managing Director, Global Transaction Services, and Chris Campbell, Executive Director, New Payments & Payments Policy. (Supplied)

Roll out of the PayTo digital payments feature is gaining momentum, with certain businesses now able to access the service with Westpac.   

PayTo has been introduced by the banking industry over the past couple of years, including on Westpac’s digital platforms in April 2023, offering a smarter, more secure alternative to direct debit by allowing a customer to set up digital payment agreements with service providers, which they can then view and manage on their online or mobile banking. 

While take up of PayTo has started slow, consumers are likely to see it offered at more locations soon as more businesses gain access to the technology.  

"PayTo is the next major watershed in the payments industry as we move to a real-time, digital-first economy,” said Jeff Byrne, Managing Director, Global Transaction Services at Westpac. 

“We’re proud to be supporting its growth with the launch of our PayTo for Billers capability, with smooth integration through payment APIs our clients are already connected to.” 

PayTo is now available to big business and institutional customers who use Westpac’s QuickStream digital receivables platform. Access to PayTo for billers for smaller businesses using the PayWay platform is expected to follow later in 2024.   

PayTo allows customers visibility, flexibility and control of their digital payment agreements in real time from the convenience of their mobile or online banking.

“It’s easy to rack up multiple subscriptions to things like TV streaming services, phone and gaming services, and sports club memberships, and with cost-of-living pressure front of mind for many of us, it pays to have visibility and stay on top of the outgoings,” Byrne said.   

There are several productivity benefits to businesses adopting PayTo, Byrne said. They include funds settling in real time and the removal of paper from the agreement-setting process.  

With PayTo, the customer can also set up a payment agreement with a service provider using PayID as an alternative to providing their BSB and account number. PayID identifies a customer using a mobile number or email address but offers an extra layer of security because the payment details and personal information associated with a PayID can only be accessed by the bank.

Meanwhile, well-run businesses shouldn’t be unduly worried by customers having the power to terminate a pay agreement at any time, he adds.  

“The other way of looking at it is that you will receive real-time information about your customers’ satisfaction with the service because you'll be notified when they cancel the payment agreement. So you've got the opportunity to get on the phone and find out what has happened.” 

As momentum behind PayTo grows, Byrne urges businesses who bank with Westpac to be ready to embrace the technology.  

“There is going to be consumer demand for this and I don’t want any of our clients to be missing out.” 


James Thornhill was appointed as editor of Westpac Wire in May 2022. Prior to joining the bank, he was a business and financial journalist with more than two decades of experience with international newswires. Most recently, he was a resources correspondent for Bloomberg, covering the mining and energy sectors, and previously reported on a broad range of topics from economics and politics to currency and bond markets. Originally from the UK, he’s had stints working in London, New York and Singapore, but is now happily settled in Sydney.

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