To use Pay ID in Australia, you first need to create one. Of course, as it must be linked to your bank account, you must have one. After that, here’s how to set up PayID:
Activate your PayID. Confirm that you are ready to activate it.
Log in to online or mobile banking. Open your bank app or website and log in to your personal account.
Find the PayID section. Open the Payments, Transfers, or PayID, depending on what is available in your specific banking app.
Choose a PayID type. Select the mobile number or email address you wish to be your PayID.
Enter the PayID details. Type in the phone number or email they want to use.
Link to a bank account. Choose which account the PayID will point to. As you plan to make secure payments for Pay ID slots, we recommend a transaction account.
Verify ownership. The bank sends a one-time code. Enter it to confirm that this method belongs to you.
Note that most Australian banks support PayID, and it’s usually free. Such payments use the Osko system, so the answer to the question: “Is PayID instant?” is yes, in most cases it is.