Driving real-time treasury advantage
Why choose Westpac?
We're reimagining the payments landscape with integrated technologies that track and manage transactions in real time to put you – and your customers – in control.
QuickStream keeps it seamless
This single platform allows you to:
- View digital customer payments in one place, including PayTo, digital wallets, debit and credit cards and direct debits, improving visibility, reporting and reconciliation.
- Connect via a single integration for easier receivables management and reporting.
We’re pioneering with PayTo
Available via the QuickStream platform, we're giving our partners the advantage through:
- Real-time, reliable account-to-account payments, giving you cash flow certainty.
- Richer transaction data supporting easy same-day matching and reconciliation.
- Smarter security solutions to reduce fraud and ensure payments are taken from the correct account every time.
- Operational efficiencies to cut administration costs.
Fast, efficient and secure with PaymentsPlus
- Ensure your beneficiaries receive their money as soon as possible and pay using multiple payment methods including New Payments Platform (NPP) Osko to eligible bank accounts.
- Enjoy an extra layer of protection with Westpac Verify, a security safeguard designed to help prevent payments to incorrect account details that also helps to protect against payment redirection scams or mistaken payments.
The dynamic advantage
Westpac’s Dynamic Virtual Card (DVC) is a secure and convenient way to process payments for purchases from nominated suppliers, to help assist in making treasury operations simpler.
Our single-use DVC capability can be integrated with numerous procurement platforms to aide in safe and seamless business expense management.
Paying suppliers via a DVC can bring a range of benefits, including:
- Secure payment;
- Online processing and quick reconciliation, with fewer manual reimbursements needed; and
- Enhanced data with multiple reporting options to suit business needs.
The DVC can be used to generate Virtual Cards, which are delivered via electronic means in near real-time to employees' or contractors' mobile devices and further added to mobile wallets. Increased speed, control and security are key benefits for organisations adopting the DVC solutions.
Businesses can potentially use DVC to replace petty cash for daily incidental expenses, and universities pay visiting professors or academics as a cash alternative to cover their travel and related expenses.
Payments: Building the future of banking in real-time
Banks are moving fast, embedding new technologies to embrace the push to real-time payments that’s coming from customers, regulators, payment schemes, and new competition within Australia and across the globe. The impact is transformational and will provide better outcomes for both consumers and large institutions.
Streamlining payments for businesses and governments in real-time
A unique Westpac payments platform is making real-time payments for large organisations seamless and safe.
Payments transformation: Get ready for exponential change
There’s no time to lose with a new strategic plan for Australia’s payment system enmeshing all industry players in a seven-year transformation journey, but it’s just one of many forces to watch.
Things you should know
Westpac Institutional Bank is a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714. This information is correct as at 1 August 2024. These products and services are available only to wholesale clients within the meaning of s761G of the Corporations Act 2001. You should consider whether or not these products and services are appropriate for you. Terms and conditions apply. Copyright 2024 Westpac Banking Corporation.