Leading global Pay by Bank provider, Banked has partnered with NAB to enable Pay by Bank (PayTo) at checkout on Amazon’s Australian store.
Account-to-account payments are on the rise globally thanks to lower costs, enhanced security and improved user experience.
Banked’s Pay By Bank technology, delivered via the NAB partnership, provides Amazon.com.au customers with a frictionless and secure way to pay, while at the same time delivering a cost efficient, instant payment solution for its business.
CEO of Banked Brad Goodall highlighted the importance of Amazon’s PayTo launch in driving local uptake of Pay by Bank: “Enabling Amazon and NAB to launch PayTo in Australia is a huge step in cementing our position as a truly global Pay by Bank platform. Australia is an important market for us and we have worked closely with NAB to ensure Amazon’s PayTo sets a worldwide benchmark for account-to-account payments at scale.
Customers shopping on Amazon.com.au can now use ‘PayTo’ to make a Pay by Bank transaction directly from their bank account in a seamless, secure way, removing the need to provide card details. The new ‘PayTo’ payment option gives Amazon.com.au customers visibility and control over their payments by facilitating the safe authorisation of PayTo arrangements via their online banking platform.
NAB Executive, Enterprise Payments, Jon Adams, said the partnership highlighted the benefits of Banked’s international reach: “It has been a pleasure working with the Banked team on this implementation. They understand tier one merchants and their global insight and experience puts NAB in a great position to provide the scale, security and customer experience that consumers and merchants like Amazon demand from their payment experiences.”
The Amazon launch follows Banked’s acquisition of Australian payment technology firm Waave.