FAQ

Instant Pay frequently asked questions below.

How does Instant Pay work?

Instant Pay uses the NPP (Australia) to process bank transfers to business merchants within seconds. It passes instant remittance between the payer and the business merchant, removing the need for credit cards to be used in online or ecommerce.

How much does Instant Pay cost?

Instant Pay is a business merchant service. It costs $2.50 per incoming and outgoing transaction, regardless of the amount it is transferring. Business merchant access also has a monthly fee of $99.

How do I use Instant Pay?

Using Instant Pay is as simple as making a bank transfer from your internet banking. Instant Pay will provide the payer with either a PayID or a BSB and Account number to make their payment to. Instant Pay then receives your payment within seconds and lets the business merchant know that they have been paid.

Why would I use Instant Pay?

Instant Pay gives payers/consumers a much more secure online payment option, as well as operating under a fixed fee environment. Comparably, using a credit card online is considered not secure and incurs merchant and consumer fees ranging from 1-3.8% per transaction.

Is my bank compatible with Instant Pay?

Instant Pay is compatible with all Australian Banks, though some offer differing NPP payment timeframes. These timeframes are discussed in more detail on our banking page by clicking here.

What is API banking

Instant Pay offers API based banking services to to select businesses. Every transaction that moves through the Instant Pay platform is actionable. Ultimately, every transaction can trigger an action, whether that be remittance, automating a supplier purchase or even turning on a smart light on the opposite side of the world.