In addition to bank transfers and credit cards, our clients now have another method for paying their invoices: PayID. We’ve been using it to pay our suppliers as much as possible and we reckon it’s pretty awesome.
The main benefit to businesses for supporting it, and why we chose to, is that it makes payment details much easier to remember: just use the ABN of the business you want to send money to (ours is 78159295164). There’s another secondary benefit, too. Once fully migrated, it allows changing banks without having to go through the rigmarole of informing every customer.
We can’t wait for every business in Australia to support PayID. It just makes sense.