Zepto, Australia's leading innovator in account-to-account payments, has announced a partnership with online investment platform Stake to help facilitate its Recurring Investment product via an integration with PayTo. Chief Commercial Officer, Colin Baines reports.
Hot on the heels of announcing our PayTo-for-bills use case with Red Energy, we're delighted to welcome online investment platform Stake to the Zepto PayTo party.
This is one of the first applications of PayTo to enable recurring deposits through a brokerage platform.
Developed by Australian Payments Plus, PayTo allows Stake customers to initiate real-time, account-to-account payments directly from their bank — for instant settlement and reconciliation. Once a customer sets up an agreement, they can facilitate payments without the need to share bank details with Stake.
Key to the PayTo integration is the ability for Stake customers to set up automated, recurring investment plans, providing a convenient process for those following a dollar-cost averaging strategy. One-off payments are also available, giving customers flexibility in their choices.
“At Stake, the customer experience is at the core of everything we do, and we wanted to make our Recurring Deposits offering as seamless as possible. PayTo emerged as the best possible way to achieve this, and given Zepto’s strong track record, and direct connection to the NPP payment rails, it was clear they were the best partner for this project.”
Alex Robertson, Head of Product at Stake
This partnership not only elevates Stake’s offering, but also shows how Australia’s cutting-edge payment technologies can be applied to increase innovation for consumers.
We’re thrilled to partner with Stake to bring PayTo to the forefront of the investment world. This partnership marks a significant milestone as it introduces a new standard for speed, security, and control in investment transactions. PayTo is revolutionising how investors manage their investments, allowing them to seize opportunities faster and more confidently.
Zepto is committed to unlocking Australia’s payments infrastructure’s full potential and decentralising access to real-time payments. Our partnership with Stake is a perfect example of how we’re driving innovation and accessibility in the financial sector.
As Australia’s first non-ADI directly connected to the NPP for PayTo, Zepto is pioneering a new era of financial infrastructure. With Zepto’s modern payments API, large enterprises can unlock a world where payments move in real-time with enhanced transaction data. A world where they can optimise for end-user experience over trade-offs to outdated payment methods no longer fit-for-purpose in a real-time, always-on economy.
Seeing more and more businesses across multiple verticals unlock the benefits of the real-time pay-by-bank future excites everyone at Zepto so much. These are significant moments and milestones for Australia's payments ecosystem, the economy and Aussie consumers.
We couldn't be prouder to be playing a part in pioneering the payments future.
With Australia's legacy BECS payments infrastructure slated for retirement in 2030, it's time for large organisations to make the move like Stake, Red Energy, Wpay and others have done.
Migrating to the NPP will take time. As a directly Connected Institution [CI] on the NPP for PayTo, we have a unique view of what's involved. The insights we have into the underlying infrastructure, and the data we're able to extract are consequential.
Are you making the move?
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