PayID for business

Solutions > PayID > PayID for business

PayID can help businesses and organisations receive payments fast and easily through online banking.  

Payments made to a PayID are typically sent in under a minute through Osko, even between different financial institutions,* meaning you can get paid fast.

* Some payments may be held for additional security checks. Speak to your financial institution for more information.

Payments are made in a few easy steps in the security of your customer’s online banking.

PayID can help protect you and your customers from fraud or scams, such as invoice interception scams, as payers can see who they are paying before they send money.

If you’re a micro business or a sole trader, PayID is an easy way to accept fast payments. A PayID can be set up in your online banking using your mobile number, email address, ABN or Organisation Identifier.

There are two main ways you can use PayID to receive payments. One way is using your own PayID that’s registered to your bank account, like your mobile number, email address, ABN, or Organisation Identifier. This is generally suited to small businesses or sole traders who want to get paid an easy way.  
 
For businesses and organisations that need a more efficient way to collect, manage, or reconcile payments, PayID could be used as a receivables solution where unique email PayIDs can be generated for customers to pay.   

Whether you’re a babysitter, a tradie or a market stall owner, PayID is a simple way to get paid for your business or services. 
 
To start receiving fast payments, you can register your mobile number, email address, ABN, or Organisation Identifier as your PayID in your online banking. Your financial institution will let you know which PayID types are available to you.