Australia's newest payment method, PayTo, is on the way

PayTo is a new, digital way for merchants and businesses to initiate real-time payments from their customers’ bank accounts. It is set to modernise the way bank accounts are used for payments.

NPP accredited third-party participants are expected to satisfy the NPP PayTo requirements to deliver certain service level and their accessibility standards, and focus on;

 


Seek a payer customer’s instruction to authorise (or decline) the creation of a new PayTo agreement, or an amendment to an existing PayTo agreement

 


Provide a facility to enable a payer customer to view their PayTo agreements, and give instructions to amend, suspend, un-suspend, transfer, and cancel their agreements

 


To receive and process PayTo payment initiation requests

 


 

Native to the Ultracs core banking and My Viewpoint 3 platforms is the Ultracs PayTo software solution that serves as the provision in meeting these requirements, and possesses both back-end and front-end capabilities;

 

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Backend

 1. Maintain account definition

 2. NPP PayTo agreement management in Ultracs

 3. Maintain user messages (and front-end)

 4. Maintain tag values

 5. My Viewpoint user security maintenance

 6. Maintain access controls

 7. New Payments platform

 8. Payment parameters maintenance

 9. Ultracs PayTo agreement parameters maintenance

 

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Frontend

 1. NPP PayTo agreement management in My Viewpoint

 2. PayID management

 3. Manage SMS one-time password and manage security token

 4. PayTo agreement notification delivery priorities

 5. Manage PayTo agreement notification templates

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