What is PayID and how does it work?

PayID is a universal payment identifier that lets users receive funds without sharing sensitive bank account details. It links a simple, memorable identifier (such as an email address or phone number) to your bank account, making transactions faster and more secure. Available 24/7, PayID is supported by over 100 banks and financial institutions across Australia.

Watch the video below for a step-by-step guide on how PayID works.