Helping eliminate payment fraud and pay suppliers with confidence
PayOK verifies your suppliers bank account details before you make a payment, ensuring funds go to the correct account, every time.
WHY
The Problem
Every Australian business, regardless of size, location or industry, can be impacted by payment redirection, internal fraud and cybercrime.
$227 million
In losses in 2021 by Email Scams
> $2 billion
Lost by Australian's in 2021 from Reported Scams
3rd
Largest reported fraud is from false billing
Human Error
Not all payment errors are a result of fraud. Keying errors can result in mistaken payments that can be costly and are typically not refunded by your bank.
Social Engineering
Avoid the result of employees being manipulated and exploited via the rise of social engineering by cyber criminals.
Phishing Attacks
Cyber criminals can gain access to your system and manipulate data such as master vendor files to alter the recipient bank account details.
BEC
Fraudsters hack and take control of supplier emails in order to change invoices or bank details and redirect payments to their own account.
Employee Fraud
An employee changes a supplier’s bank account details within a pay run to either their own or another’s bank account to receive funds.
FEATURES
The PayOK Solution
PayOK offers a range of solutions to combat payment fraud, securely onboard suppliers and meet audit and compliance requirements.
Verification
Consistency is Key; our Basic or Express verification options ensure that you follow the same process to verify vendor bank accounts every time regardless of volume.
Vendor Onboarding
Digitise, customise, and automate your vendor application process. Ensure that once an application form is received all the required vendor information has been gathered, the ABN is validated, and their bank account credentials are verified.
Vendor Management
PayOK reduces supply chain risk by keeping you up to date with ASIC, ABR and GST statuses. Managing payments against accurate vendor ABN’s is crucial for compliance to ATO Taxable Payments Reporting System. (TPRS)
Payment Processes
Our Chrome plugin and ABA pre-check tool ensures that every payment is checked against the verified Master Vendor File before disbursement, including a check against employee bank account details.
Audit and Compliance
PayOK has an automated audit trail of every verification, including user details, and IP address. We also provide an audit trail of every bank account payment when ABA files are uploaded.
Data Security
PayOK utilises bank grade encryption with AES-256 and SHA-512 means your data is safe from end to end. We leverage two-factor authentication and single sign on (SSO) to keep data secure.
HOW
See how it works
Discover the power of PayOK and how it can help your business improve supplier onboarding and reduce payment risk
VIDEO
Watch our two minute overview
Let us show you how we can improve supplier onboarding and help eliminate payment fraud in your business.
CONTACT US
Book a Demo Today
PayOK works with the best experts in the market to ensure we provide safe, secure and robust solutions for our clients.
OUR PARTNERS
Better together
We know that data and security matters, that's why we bring together comprehensive information presented in our easy to use platform
WHAT OUR CUSTOMERS SAY
Using PayOK‘s easy to use platform saves my team a significant amount of time and has strengthened controls in my procure-to-pay process, whilst helping to eliminate payment fraud.”
Orora
WHAT OUR CUSTOMERS SAY
PayOK’s custom digital vendor application tool has been well accepted by our vendors, it has streamlined our processes, and significantly reduced the time required for onboarding and verifications.”
Wyndham City Council
WHAT OUR CUSTOMERS SAY
With the significant increase in reported cybercrimes, we decided to use PayOK’s online banking chrome plug-in. Using PayOK is seamless and provides our organisation with confidence and peace of mind that funds are only being paid to verified bank accounts.”
Zoom2U
GET IN TOUCH
Schedule Your Demo Today
Speak to one of our advisors to find out how PayOK can help your business today