PayID: securing everyday transactions for Australian businesses

PayID adds a layer of protection to everyday payments. Here is how it reduces mistakes and fraud, speeds up settlement, and keeps sensitive details private, plus three steps to start accepting PayID through B2Bpay.

By the B2Bpay teamUpdated 28 October 20263 min read

Hands typing on a laptop surrounded by PayID, padlock, shield and 24-hour icons

What is PayID and how does it protect your business?

Short answer: PayID lets your customers pay you using a simple identifier instead of your bank account details. They can check who they are paying before any money moves, payments settle in real time, 24/7, and you can start accepting PayID through B2Bpay by asking our support team to switch it on.

Why payment security matters for every business

More business now happens online, and fraud, hacks and scams are common. Protecting your financial transactions has never been more important.

PayID is a universal payment identity system that adds a new layer of protection to everyday payments. Here is how it helps safeguard Australian businesses and their customers.

How PayID protects your business

Fewer mistakesCustomers and businesses can confirm the payment recipient before they send any money. Knowing the payee is verified reduces the risk of mistaken transfers and of falling victim to fraud, and adds transparency and trust to every transaction.

Fast settlementPayID payments settle in real time, without the delays of traditional payment methods. They work 24/7, so a late-night business expense or a time-sensitive payment can clear at any hour, giving you more control over your finances.

No sensitive details to shareTraditional methods often mean sharing bank account numbers or card details. PayID uses a unique identifier instead, so less financial information is exposed, which lowers the risk of identity theft, fraud and unauthorised access to accounts.

Simple set-upBusinesses can switch on PayID in their banking app, by contacting their bank, or through their payment system provider. Once it is running you get a unique identifier to add to invoices and bills, or to share with customers.

Easily accessibleAnyone with a compatible bank account can use PayID, so you and your customers can start enjoying the benefits as soon as it is activated.

PayID gives businesses a reliable, fast way to process payments while protecting themselves and their customers in an unpredictable digital landscape. For more on how B2Bpay protects your payments and data, see is B2Bpay safe?

How to start accepting PayID on B2Bpay

Get PayID activatedAsk our support team to switch the PayID function on for your B2Bpay account.
Save your PayIDYou will receive your unique PayID identifier by email. Make sure you save it correctly.
Share your PayIDShare your PayID identifier with your clients, or include it on your business invoices.

Ready to accept PayID for your business?

Get started Call 1300 205 575

Want customers to pay your invoices by card too? See accept card payments online.

Frequently asked questions

What is PayID?

PayID is a universal payment identity system. Instead of giving customers your BSB and account number, you share a unique identifier. Customers can see who they are paying before they send money, and payments settle in real time.

How do I start accepting PayID through B2Bpay?

Ask our support team to switch the PayID function on for your account. You will then receive your unique PayID identifier by email; save it and share it with your clients or add it to your invoices. Call 1300 205 575 or get in touch to start.

Is PayID available outside business hours?

Yes. PayID works 24/7, so payments can settle at any time of the day, including late at night and on weekends.

Do I still need to share my bank account details?

No. PayID replaces bank account numbers and card details with a unique identifier, so you share less sensitive financial information with customers.

Who can pay me with PayID?

Anyone with a compatible bank account can pay using PayID, so most of your customers can use it as soon as your PayID is activated.

Accept payments with confidence

Talk to the team about switching on PayID for your business.

Get started