PayID Biller: Next big leap in the real-time revolution
The latest development in real-time payments with the launch of PayID® Biller is now bringing unique advantages to Westpac corporate and institutional customers. Here’s how.
The use of easy to recognise PayIDs, often phone numbers or email addresses, as an alternative to legacy processes such as BPAY, has revolutionised consumer payments.
While they recognise the benefits of real-time payment and settlement, Australian businesses have been slower to move, even though a recent Nielsen survey commissioned by Westpac Institutional Bank found that 99 per cent of large organisations recognise the need to transition from the decades-old Bulk Electronic Clearing System (BECS).
That said, the Nielsen survey also found that only 25 per cent of Australian businesses are “real-time ready”, while 47 per cent are preparing to act, driven by the need for enhanced cash flow and a push to deliver a better consumer experience.
Westpac is giving its business customers the opportunity for a smooth transition to real-time payments with the rollout of PayID Biller, which is readily integrated through API technology in the Westpac QuickStream platform that’s already used by many organisations for receivables.
Westpac is currently processing employers’ super payments via PayID Biller available on Westpac’s proven QuickSuper platform, well ahead of the launch of Payday Super in July 2026, when businesses will be required to pay an employee’s superannuation at the same time as they pay their wages.
What makes PayID Biller an effective tool for business?
Australian businesses rely heavily on the nearly 30-year-old BPAY service for their receivables, but while a payer can make a payment 24/7 it can – in some cases – be a matter of days before those funds finally arrive in the recipient’s business account.
This disrupts cashflow and reduces transparency on the biller’s financial position, while also leaving the payer confused over whether their payment has landed while waiting for confirmation.
Kathryn Carpenter, Managing Director of Domestic Payments & Liquidity at Westpac Institutional Bank, says PayID Biller will transform business cashflow and make for a more efficient receivable processes for Australian businesses.
“But also think about the customer experience,” says Carpenter. “If you are a utility, for example, you might have turned someone’s power off because they haven’t paid their bill, and the customer then responds by ringing your call centre. [With PayID] you will be able to instantly see when the payment is made – and you can turn their lights back on straight away, simply because you are moving from delayed to real-time settlement.”
How does PayID Biller impact customers more widely?
One Westpac client involved in piloting PayID Biller is a credit card company. “It is great for them, because their customers can pay down their cards in real time, which means more cashflow for the card company,” explains Carpenter.
“It also really helps their customers, in situations where a customer needs to pay down the balance so they can make another purchase. There’s a double benefit there. It gives the biller access to their cash faster, but it also means that the underlying customer has more control and can do exactly what they want to do and not risk dropping out of the payment cycle.”
PayID Biller also offers advantages to government clients, and their customers, with faster registrations and the real-time payment of fines.
Ecommerce sites will be able to move money, and goods, at a faster rate and there are advantages in the travel industry, where reservations can be confirmed instantly and at lower cost to both the airline and the customer.
Simplified security is another positive as PayID Biller reduces the risk of scams, because invoices will no longer need to include account details.
“PayID Biller, uses a unique reference number, which materially reduces the risk of Business Email Compromise, one of the largest scam attacks facing Corporate Australia,” says Carpenter.
With the rapid verification of payees using unique identifiers instead of numbers, PayID helps to reduce all-too-common errors.
How easy is it to use PayID Biller with Quickstream?
“Quickstream is an amazing receivables gateway we offer our clients, and it gives them a wide range of payment options,” says Kathryn Carpenter. “There are the things they know and love, like direct entry, alongside newer technologies like Apple Pay.
“Turning on PayID Biller is just a simple new option within Quickstream, so there is a very low barrier to implementation and minimal change management costs.”
This optionality also gives clients and their customers a choice on their method of payment, enabling them to transition to the world of real-time digital payments at their own pace.
What is the benefit in using PayID Biller for superannuation payments?
Carpenter references the case study of a Western Australian company that has been using PayID Biller for its superannuation payments through QuickSuper. “They wanted to make a payment, but it was outside the east coast banking hours, meaning the payment wouldn’t be processed until the following day,” says Carpenter.
“With PayID Biller they were able to make the payment in minutes versus days, within their own time zone without delay, and have tested compliance with the upcoming payday super rules with no fuss.
“It shows how this capability is a strong proposition not only in delivering value to customers, but as an employee proposition as well.
“And this is only going to become more important when we move to Payday Super in 2026.”
What is Westpac’s point of difference with PayID Biller?
While some providers offer PayID for business, many of them are small fintech companies that have challenges scaling their solutions and in integrating with banks.
Westpac has already invested in digital payments infrastructure through QuickStream and QuickSuper, and its solutions offer a single point of entry for a range of payment methods.
PayID Biller leverages these investments and offers customers an in-house end-to-end experience in a robust, secure infrastructure environment which many of them are already using daily.
PayID is a registered trademark of NPP Australia Limited
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