Volt has launched its secure, PayTo based, one-click payment solution for its retail customers in Australia. The offering simplifies the payments experience for customers and eliminates credit card surcharges. In addition, the next-generation online digital payment solution allows retailers to receive payments instantly.
Volt’s new one-click payment feature integrates with PayTo. The instant digital payment system from the New Payments Platform enables businesses to initiate real-time payments from their customers’ bank accounts.
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Once a merchant has integrated Volt at checkout, customers can select PayTo as their preferred payment method, enter their PayID, and then set a secure PIN and optional payment limit for that specific merchant. Once the agreement is approved in the user’s banking app, information will be securely saved. This enables instant one-click payments with that merchant in the future.
Australia’s existing payment platform under scrutiny
Volt’s one-click payment solution launches at a time where existing payment platforms within Australia are under scrutiny. Australia’s FCA reported a 46% increase in scam-related complaints over the past financial year. Volt says that PayTo offers greater security than most other payment options. As a result, Volt’s merchants can now accept payments instantly. And at the same time, reduce the risk of fraud associated with other online transactions.
Jordan Lawrence, co-founder, Volt, said: “Australian merchants have high expectations and have shown strong commitment to innovation. Since our expansion into Australia, Volt’s team has been focused on finding new ways to add value to this dynamic market. We wanted to build on our ability to combine beautiful payment experiences with the power of real-time payment technology.
“Volt’s one-click payments are an example of a solution that benefits all parties. It offers Australian consumers access to smoother, easier, faster payments at checkout, while sophisticated Australian merchants can enjoy faster settlement times whilst eliminating risk and fraud.”
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