Stake launches PayTo with Zepto for seamless deposits

Stake has launched PayTo for its customers through a collaboration with Zepto, allowing for real-time transfers via the New Payments Platform.

This partnership represents a pioneering use of PayTo technology enabling Stake customers to manage automated, recurring deposits directly from their bank accounts.

The PayTo integration facilitates real-time account-to-account payments, providing instant settlement and reconciliation for customers once a payment agreement is set up.

Alex Robertson, Head of Product at Stake, stated, "At Stake, the customer experience is at the core of everything we do, and we wanted to make our Recurring Deposits offering as seamless as possible."

"PayTo emerged as the best possible way to achieve this, and given Zepto's strong track record, and direct connection to the NPP payment rails, it was clear they were the best partner for this project."

The new option allows customers to apply a dollar-cost averaging strategy through automated deposits and also includes the flexibility of one-off payments.

Colin Baines, Chief Commercial Officer at Zepto, commented on the partnership.

"We're thrilled to partner with Stake to bring PayTo to the forefront of the investment world. This partnership marks a significant milestone as it introduces a new standard for speed, security, and control in investment transactions."

"PayTo is revolutionising how investors manage their investments, allowing them to seize opportunities faster and more confidently."

Zepto's role as Australia's first non-ADI connected to the New Payments Platform for PayTo highlights its effort in revolutionising financial infrastructure, aiming to optimise financial transactions with real-time capabilities.

According to the companies, this integration not only enhances Stake's offerings but demonstrates the application of advanced Australian payment technologies in providing innovative solutions for consumers.

Zepto's modern payments API is tailored for enterprises eager to engage in a more immediate and data-rich transaction environment.