In essence, the new payment method enables customers to authorise transactions through their online banking platform, offering an alternative to traditional card payments. Once PayTo is approved as a payment option, users can initiate both one-time and recurring payments with a single click.
According to NAB’s Executive for Enterprise Payments and Technology Modernisation, the integration of PayTo with Amazon’s Australian store enhances payment efficiency for both consumers and businesses. He noted that the system provides a streamlined payment process while reducing transaction costs and fraud risks for merchants.
Amazon’s Director of APAC Payments stated that the company continues to expand payment options in response to shifting consumer preferences toward banking apps and instant payments. He highlighted that the introduction of PayTo allows customers to choose their preferred payment method when shopping on the platform.
NAB expects the adoption of PayTo to grow further as more businesses seek cost-effective and secure payment solutions.
These developments follow NAB’s extension of its long-term partnership with Amazon Web Services (AWS) as part of a multi-cloud strategy. Through this, NAB aimed to improve its technology capabilities and customer experiences.
The agreement focused on accelerating the migration of critical workloads to AWS and further developing NAB’s Generative AI (GenAI) capabilities, such as automated code development and training. The bank continues to work with AWS on areas such as GenAI tools, including Amazon Q Developer, to improve productivity and speed up service delivery. Since 2018, over 3,360 NAB employees have become AWS Certified Cloud Practitioners, and NAB has launched cloud education programmes modelled by other organisations.
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