Aussie fintech Zepto launches PayTo Index, revealing real-time payments momentum

Zepto, a leading innovator in account-to-account (A2A) payments in Australia, has today launched its inaugural PayTo Index, mapping Australia’s PayTo adoption as the nation’s payment ecosystem undergoes a seismic shift.

PayTo allows Australian businesses to collect payments instantly and securely from customers’ bank accounts, operating as a real-time alternative to traditional direct debits. With the legacy Bulk Electronic Clearing System (BECS) targeted to be retired in 2030, PayTo runs on the New Payments Platform (NPP),  Australia’s open-access, real-time payments infrastructure, launched in 2018.

With just over four years to go until 2030, Zepto’s PayTo Index demonstrates how NPP and PayTo use are gaining momentum, acting as a benchmark alongside discussing market challenges and how they can be overcome.

Key insights from the Index include:

• 800,000+ PayTo payments were settled on the Zepto platform between October 2023 and April 2025, worth $511+ million in total value.
• PayTo payment conversion rate reached 99.03%
• The median settlement time was under five seconds.
• Account-on-File (AoF) payments is the most adopted PayTo use case, representing 70% of payments on the Zepto platform—surpassing recurring and one-off agreements.
• Consumer PayTo use is increasing quarter-on-quarter, with an 80% increase from FY25 Q2 to FY25 Q3.
  • Median consumer spend via PayTo reached $352.64 during this period.
  • Lifetime Transactions Per Active Account (TPAA) averaged 6.01.

As of July 2025, Zepto has since settled over 1 million PayTo payments (October 2023 to July 2025), totalling $612+ million.

Market leaders

The Index showcases major Australian utility provider, Red Energy, as a PayTo adoption leader, demonstrating how it has driven operational efficiencies, lowered transaction costs and improved the customer payment experience by offering PayTo via Zepto.

Anthony Young, Retail Financial Controller at Red Energy, said, “Red Energy’s partnership with Zepto is about improving our customers’ experience and providing them with faster and more secure payment options. The ability to interact with our customers in real time was a big driver for us in adopting PayTo early. At the same time, PayTo is another step forward in our broader digital evolution, expanding the ways in which our customers can interact with us.”

Retailers and investment platforms are some of the other PayTo market leaders according to the Index, which in particular references a high volume of ‘Account-on-File’ use cases, showcasing repeat purchases and customer loyalty.

Challenges to overcome

Despite increasing momentum, the Index highlights that 90% of Australian retail A2A payments still use the soon-to-be-decomissioned BECS infrastructure. Adoption barriers include:

• Inconsistent PayTo authorisation processes across banks, causing notable variability in customer conversion rates
  • Conversion rate by banks in FY25 Q3 ranged between 35.88% and 73.13%, contributing to an overall PayTo agreement conversion rate of 54.52% on average.
• Sector reliance on legacy billing and financial system software
• Low consumer education and awareness about the benefits and enhanced PayTo user experience

A call for industry leadership and collaboration

To overcome these challenges Zepto is calling for urgent, coordinated action from government, banks, and industry bodies to realise the full benefits of PayTo and the NPP.

Chris Jewell (pictured), President and Co-Founder of Zepto, said, “Real-time payments via PayTo and the NPP aren’t just technology upgrades, they’re the foundation for a faster, safer, and more customer-centric economy. The time for true industry collaboration is now so we can enable swift PayTo adoption across the market that puts consumers first. We’re proud to be at the forefront of enabling this innovation through our technology, helping enterprises deliver seamless, real-time payments and exceed rising customer expectations.”