Banked has partnered with National Australia Bank (NAB) to introduce Pay by Bank, known as PayTo, at the checkout on Amazon’s Australian online store. This collaboration aims to provide Amazon.com.au customers with a cardless payment option, offering a secure and cost-efficient solution.

The partnership is part of Banked’s strategy to strengthen its position in the Australian market for account-to-account payments and to support its ambition to establish a global Pay by Bank platform. The launch is anticipated to boost local consumer awareness and adoption of Pay by Bank, particularly through its association with major brands like Amazon.

Customers using the PayTo option can conduct transactions directly from their bank accounts, removing the need for card details. This payment method supports both one-off and recurring payments with real-time processing capabilities.

Banked recently expanded into the Australian market by acquiring the local startup Waave and forming a partnership with Chemist Warehouse to deliver a Pay by Bank experience in 2025. PayTo is an initiative by Australian Payments Plus and is accessible to 95% of retail bank accounts in Australia.

NAB’s involvement with Banked dates back to 2022 when it invested in the company through NAB Ventures. Banked operates on a global scale with offices in the UK, US, and Australia, and its Pay by Bank product is active in regions including the US, Europe, the UK, and Australia.

According to Brad Goodall, CEO of Banked, “Enabling Amazon and NAB to launch PayTo in Australia is a huge step in cementing our position as a truly global Pay by Bank platform. Australia is an important market for us and we have worked closely with NAB to ensure Amazon’s PayTo sets a worldwide benchmark for account-to-account payments at scale.”

Goodall said, “As more consumers become aware and familiarise themselves with the Pay by Bank experience through major brands like Amazon, we will see a snowball effect of uptake. This announcement today between NAB and Amazon will leapfrog Australia into a commanding position as an account-to-account payments global leader.”

Jon Adams, NAB Executive, Enterprise Payments, expressed satisfaction with the collaboration, saying, “It has been a pleasure working with the Banked team on this implementation. They understand tier one merchants and their global insight and experience puts NAB in a great position to provide the scale, security and customer experience that consumers and merchants like Amazon demand from their payment experiences.”