Amazon has switched on a new way for customers to pay, tapping National Australia Bank to establish direct connections with bank accounts in a move that will help the retailing giant reduce credit card acceptance fees.
In a first for the Australian online retailers, Amazon on Thursday added a new option – labelled PayTo – at its checkout. It will allow customers to pay straight from their bank account, instead of with a credit or debit card.
Loading...
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
