What are the benefits of PayID?
There are a number of benefits to using PayID, including:
- PayID makes payments an intuitive experience in keeping with the way we live life today, and does it in a way that is safe and secure.
- Greater convenience as you can provide payers with details which are easy to remember such as an email address or a phone number.
- Greater peace of mind as you no longer have to provide your account information, such as BSB and Account number to payers in order to receive payments. Services that use PayID may display a PayID Name before you send a payment as an additional level of confirmation that you are sending money to the right person.
- Ability to maintain and transfer your PayID details if you change financial institutions.