Banked partners with NAB to launch PayTo® enabled Pay by Bank for Amazon.com.au customers in Australia

Sydney, Australia, EMBARGO 5pm Friday 31 January 2025 – Banked, a leading global Pay by Bank provider, today announced it 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.

Amazon launch to bolster local consumer awareness of Pay by Bank 

Brad Goodall, CEO of Banked, 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.

“As more consumers become aware and familiarise themselves with the Pay by Bank experience through major brands like Amazon, we will see a snowball effect of uptake. This announcement today between NAB and Amazon will leapfrog Australia into a commanding position as an account-to-account payments global leader.”

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.  

Once approved as an online banking payment method, Amazon shoppers can use PayTo to initiate one-off or recurring payments straight from their bank account, with a single click, in real time.

Partnership demonstrates the advantages of Banked’s global footprint

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 recent entry into the Australian market in partnership with NAB, with the pair teaming up to deliver an innovative Pay by Bank solution and accelerate the adoption of account-to-account payments for Australian merchants. It also comes on the heels of Banked’s acquisition of Australian payment technology firmWaave, positioning Banked at the forefront of Australia’s Pay by Bank market and establishing a strategic partnership with Chemist Warehouse, one of Australia’s largest and most iconic retailers, to deliver a world-class Pay by Bank experience in 2025.

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Notes to editors 

PayTo is an initiative of Australian Payments Plus, operator of Australia’s real-time payments infrastructure, in collaboration with banks, fintechs and payment services providers. It is currently available to 95% of all retail bank accounts in Australia.

The utilisation of account-to-account payments is rapidly expanding, with 102 million Australian accounts able to make and receive payments via Australia’s real time payment infrastructure enabled by Australian Payments Plus. 

NAB Pay by Bank brings together the functionality of PayTo and the e-commerce capabilities of global fintech Banked, to provide businesses and governments with a fast, simple and secure way to initiate one-off or recurring payments directly from customers' bank accounts.

Global fintech and NAB Ventures portfolio company, Banked, supported the development and launch of the Pay by Bank solution. NAB invested in Banked in 2022: NAB Ventures invests in Banked - NAB News 

Media contact:

Anna Kenneally, Communications Director AU, Banked; +61 433 271 700

anna.kenneally@banked.com

About Banked

Banked is a solution that delivers infrastructure to banks, financial technology platforms, and merchants to scale account-to-account payments globally. Its flagship product, Pay by Bank is live in the US, Europe, the UK, and Australia, and is backed by some of the largest financial institutions in the world. With consumer experience, security, and low cost to merchants at the heart of Banked’s global account-to-account payments network, a real-time alternative payments experience is now a reality for merchants and their customers. The company operates globally with offices in Palo Alto, London, Melbourne, and Vilnius. For more information, visit www.banked.com.