Bonza partners with Monoova’s PayTo to offer travel payments solutions
By Gloria Mathias
Australia’s airline Bonza has selected a B2B digital payments firm and Australia’s PayTo provider, Monoova, to offer PayTo’s seamless, fee-free payment option for consumers paying online for their flights or travel bookings.
The move occurs in the wake of Australia Post’s POLi Payments exit from the market on 30 September, as PayTo continues to emerge as the account-to-account payments solution for Australian businesses and consumers.
PayTo reduces the risk of fraud and chargebacks by requiring payment “agreements” to be authorised through the customer’s online bank before a first payment is made. These agreements can either be ‘once-off’ or ‘recurring’, the latter allowing for both subscription billing and repeat ad-hoc purchases.
The payment solutions are well suited to support the travel industry due to the regularity of high-value transactions. These trigger large merchant fees for airlines and travel agencies and surcharges for consumers. High-value transactions are also more likely to be charged back if funded by cards.
Christian Westerlind Wigstrom, CEO of Monoova, said: “The travel industry embracing real-time debit is a pivotal moment in the evolution of payments in Australia. We fully expect other industries to follow suit. PayTo will quickly become the preferred payment method for a wide array of online transactions.”
“This transition will be driven by the need to provide speed and convenience for businesses. PayTo is also a game-changer for security and the overall customer experience. It significantly decreases vulnerability to fraud and safeguards consumers’ financial well-being. No sensitive credit card information is shared. It offers businesses instantaneous transaction tracking and financial transparency, which leads to multiple operational efficiencies and improved customer relationships.
“It’s a win-win for both consumers and businesses in every single way. Very soon, we will struggle to remember life before PayTo,” added Wigstrom.
Tim Jordan, CEO and founder of Bonza, said: “We are thrilled to be working with Moonova as Bonza continues to focus on technology to improve efficiencies and, in turn, help make airfares more affordable for Aussie travellers.”
In addition to PayTo, Monoova also offers enhanced Direct Debit, BPAY, Direct Entry, NPP, automated reconciliation, and cross-border payments.
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