Great for business
It’s easy
It’s quick and easy to set up:
- Simply register a PayID with your bank
- Download the PayID logo to start promoting it to your customers
Benefits of PayID
Once you’ve registered a PayID and linked it to your preferred account, give your customers your PayID for fast and simple payments straight into your account.
Fast setup- Register your PayID 24×7 in your bank’s mobile app.
Low-cost- No extra subscription or POS terminal required.
Improved cashflow- Receive payments in real-time, 24×7.
Detailed description- Payments can have longer descriptions – up to 280 characters.
Fewer mistakes- Your customers can see your business name before they confirm their payment.
Frequently asked questions and your business
Payments to your PayID should arrive to your account within a minute or so of being made. If you’re sure the person paying you used the correct PayID, the payment could be held for extra security checks. Contact your financial institution for more information or assistance.
A PayID can only be linked to one account at a time. However, you can create multiple different PayIDs that you can link to either the same account, or different accounts.
PayID is an initiative from the New Payments Platform (NPP), fast payments infrastructure built by the Australian financial services sector and the Reserve Bank of Australia. NPP Australia Ltd is responsible for operating and maintaining this infrastructure. Speak to your bank for more information or email info@nppa.com.au.