Ant International has partnered with Citi to introduce PayTo, a real-time, secure, and cost-efficient payment solution tailored for Australian SMEs, integrating it into its Global Account Service. Designed to address persistent cash flow challenges affecting nearly 80% of export-focused SMEs the solution enables instant account-to-account pull payments, offering a faster alternative to traditional direct debit systems. Through a digital PayTo agreement, businesses can seamlessly top up accounts directly from connected bank accounts, benefiting from 24/7 transaction availability, enhanced security through bank-level authorization, and reduced costs by minimizing reliance on card fees and chargebacks.
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Beyond payments, Ant International’s platform leverages blockchain and AI to improve cross-border operations, including risk management and foreign exchange optimization. The initiative also supports diverse use cases such as SaaS billing, e-commerce settlements, and B2B transactions, strengthening SME financial agility. “As Australia’s financial infrastructure continues to evolve, we are proud to play a role in supporting innovative solutions for SMEs. Drawing on our experience in cross-border payments, we see firsthand how critical cash flow is to their success and we remain committed to working with Citi and other banking partners to bring more innovation to Australian SMEs,” said Jim Vrondas.