Volt Launches One-click PayTo Payments in Australia
24 April 2024 - 12:00AM
Business Wire
New payment solution enables customers to
complete one-click payments after setting up a PayTo agreement with
their chosen merchant
Volt, the global real-time payments platform, today announces
the launch of its secure, PayTo based, one-click payment solution
for its retail customers in Australia. In addition to simplifying
the payments experience for customers and eliminating credit card
surcharges, this next-generation online digital payment solution
allows retailers to receive payments instantly.
Volt’s new one-click payment feature integrates with PayTo, the
instant digital payment system from the New Payments Platform that
enables businesses to initiate real-time payments from their
customers’ bank accounts. Once a merchant has integrated Volt at
checkout, customers simply select PayTo as their preferred payment
method, enter their PayID, and then set a secure PIN and optional
payment limit for that specific merchant. Once the agreement is
approved in the user’s banking app, information will be securely
saved, enabling instant one-click payments with that merchant in
the future.
Volt’s one-click payment solution launches at a time where
existing payment platforms within Australia are under scrutiny,
with Australia’s FCA reporting a 46% increase in scam-related
complaints over the past financial year. Since PayTo offers greater
security than most other payment options, Volt's merchants can now
accept payments instantly, as well as reduce the risk of fraud
associated with other online transactions.
Jordan Lawrence, Co-founder and Chief Growth Officer at Volt,
comments: “Australian merchants have high expectations and have
shown strong commitment to innovation. Since our expansion into
Australia, Volt’s team has been focused on finding new ways to add
value to this dynamic market. We wanted to build on our ability to
combine beautiful payment experiences with the power of real-time
payment technology. Volt's one-click payments are an example of a
solution that benefits all parties: offering Australian consumers
access to smoother, easier, faster payments at checkout, while
sophisticated Australian merchants can enjoy faster settlement
times whilst eliminating risk and fraud.”
About Volt
Volt is building the global infrastructure for real-time
payments. Our payment network is the first to unite domestic
account-to-account schemes to a single interoperable standard.
Scaling and enterprise businesses use it to accept real-time
payments, initiate payouts and manage funds. Volt is headquartered
in London, has offices in Berlin, Warsaw, Kraków, Sydney and São
Paulo, and enables payments in 31 markets across the UK, the EU,
Brazil and Australia.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240423359858/en/
Christos Tzortzis christos.tzortzis@archetype.co +61 452 472
792