PayID
PayID® has been simplifying customer-initiated payments for Australians since 2018, enabling instant payments 24x7. Supported by over 100 Australian banks and financial institutions, PayID lets you use your mobile number, email address, ABN or Organisation Identifier as your PayID identifier for receiving payments.
With Mint, rather than entering a BSB and Account Number, customers can enter a unique PayID into their banking app, which will confirm who they are paying and provide instant payment confirmation.
Payments made to a PayID will be sent fast 24/7, even between different banks.
Mint PayIDs are unique to the transaction, making it easy to reconcile.
Payments are made within the customer's online banking app.
PayID’s payee confirmation step allows customers to see who they are paying before they send money.
How it works
- Generate a payment link with Mint Virtual Terminal or offer PayID at checkout with a connected system.
- The Customer selects PayID at checkout. A unique PayID address for the transaction and the amount to transfer are presented to the customer.
- The customer logs into their banking app on their device, and creates a PayID payment, entering the PayID email address and amount from the payment window.
- The customer authorises the PayID payment – their bank will likely request some sort of two-factor authentication, e.g. SMS code, Touch ID, Face ID.
- The customer returns to the payment page and confirms they have processed the payment – Mint will confirm the funds have been received and issue a receipt to the customer.
Features
PayID integrates seamlessly with Mint Virtual Terminal to streamline payments from your customers via hosted payments pages or payment links. Booking and transaction information is recorded against transaction records in Virtual Terminal, making it easy to reconcile all bank transfers and card payments in one place.
Bank Transfer
Virtual Terminal Payment Links
1 Banking Day
Gross Settlement Billing
Australia