What is PayTo?
PayTo is set to modernise the way bank accounts are used for payments and will help businesses and consumers thrive in the digital economy.
PayTo aims to replace the legacy method of setting up direct debits. It's a payment method that brings enormous value to merchants, for instance, instant settlement.
Advantages of PayTo
1. Real time, reliable payments
PayTo helps remove the uncertainty of receiving payments from bank accounts with real-time account validation.
2. Notifications at various stages of a payment
Notifications when a PayTo agreement is paused, changed or cancelled will help you maintain customer relationships.
3. Easy reconciliation
PayTo agreements contain more information to support easy matching and reconciliation.
4. Reduce manual handling
Real-time account validation and funds availability check helps reduce errors and exception processing to ensure business can run taht little bit smoother.
Read more about how PayTo can help your businesses here
*Please click the link here to know more about the payment status of PayTo from our API