Quoted in the Australian Financial Review this week Simone discussed the opportunities to both Banks and Fintechs alike with the impending release of PayTO into the Australian Payments landscape.
PayTo would provide opportunities for banks to help business customers change the way payments were collected, making them faster and more secure.
If you are banking SMEs today, they will look for ability to send a payment mandate as a way to get paid
Ms Joyce said
If that is not available, they will approach a third party and take the opportunity with them. So this is a good opportunity for banks to help businesses engage with their customers. This is about innovation in ways to get yourself paid.
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