PayID

About Azupay PayID Receivables Solution

Enabling real-time, flexible solutions and low cost payments for you and your customers in Australia.

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What is PayID?

How do you use PayID?

PayID simplifies payments to your bank account by removing the need for your customers to remember credit card, BSB and account numbers or handling BPay customer reference numbers.

PayID is offered by NPP Australia and unlike other payment methods, when a payer uses their internet banking or mobile banking to transfer money to a PayID the payment will always transfer money via the NPP (New Payments Platform) - also known as Osko - to the destination bank account (payee) using Australia’s real time payments.

How do I setup PayID?

Your financial institution may offer to set up PayID for you on an eligible account but typically they will only register a mobile number, an email or some may offer to use your ABN. However, you can use PayID solutions offered by specialist real time payment providers like Azupay that enhance the capabilities of PayID to help protect you and your payers from scams, improve business process efficiency, ensure customers send money in real time and reduce costs compared to credit card, BPay and other payment methods.

Types of PayID

Here are some PayID options that your business can offer for fast payments into your business account.

One-off: Single Dynamic PayID

This type of PayID payment receives a single payment and is useful in situations where your customers make a one-off purchase of goods, or pay a single invoice. The PayID in effect becomes a unique identifier for you and your payers to know they are paying the correct amount for the correct purpose.

The main characteristics of this type of PayIDs are:

• Can only receive a single payment.
• Has a target amount.
• Once completed, the PayID will be de-registered.
• Helps protect you and your customers against scams as the PayID is a unique identifier for a specific real time payment purpose and is only available to be used in your payers banking app for a limited period of time.

Static Recycled: Single Payment PayID:

The PayID can be used repeatedly by creating new PaymentRequests using the same PayID string but specifying what is needed for the purpose of each payment (e.g. different amount and different description).

This is a PayID specific for each of your payer customers that does not change over time for them, so they can save them in the banking app of their own financial institution. The PayID is automatically deregistered when the requested payment has been made or the set expiry term has been reached.

The same PayID can be re-registered later when another payment is needed.

• Has a target amount.
• Once each payment is correctly completed, the PayID will be de-registered.
• When payment is needed from the same payer the PayID is re-registered and the right person can use the PayID again.

Static Open: Multi Payment PayID

Reusable, customer-specific PayID for a user-defined amount​. This is a different type of PayID that supports your customers to make multiple payments over time. It can be useful in situations like a customer wallet where you create a PayID for each customer and they use the same PayID repeatedly over time to top-up their account with you.

When a customer or Account specific PayID that is left open and registered to receive multiple payments until you choose to deregister the PayID. An Open Static PayID does not have an amount set.

🛠️ How it works

1. Choose PayID at the checkout
2. Copy the PayID or use the QR Code
3. Pay with your online banking or mobile banking app

PayID is a registered trademark of Australian Payments Plus, the operator of the New Payments Platform (NPP). Azupay is an Identified Institution in NPP Australia scheme and holds an Australian Financial Services Licence (AFSL).