is payid secure Page 22

Ah, PayID—the darling of Aussie instant payments. Is it secure? In short, yes, but with the usual caveats. PayID uses your bank’s existing secure infrastructure combined with the New Payments Platform (NPP), which boasts real-time payments and multi-factor authentication. However, the security is only as good as your own vigilance—phishing scams targeting PayID users are a growing nuisance.

Keep an eye out for:

• Fraudsters pretending to be legitimate contacts
• Requests for payment confirmation outside the app
• Suspicious messages asking for personal details

So, while PayID itself is robust, the weakest link is the human. Use it wisely, and maybe check out ServiceCentral for more security tips.