The payments infrastructure in Australia has been long plagued by problems including delays, bounce backs, and failed payments at significant cost to businesses.This is about to change with the federal government supported New Payments Platform’s PayTo capability to go live on June 30, 2022. PayTo is a major upgrade to the payments system which will herald a new era of fast, real-time payments and beyond that introduce a range of new innovations including the ability for pre-authorisation of one-off or recurring payments.
How CDR is solving Australia’s perennial payments problems
PayTo will pave the way for open banking to meet payments – and solve the perennial issues facing the industry.


