Payment by Alias

Payment by Alias is a method of making instant payments where the recipient's banking information is replaced with an "alias," which is a unique identifier that can be easily remembered by the payer. Instead of the payer having to enter the recipient's bank account number and other details every time they want to make a payment, they can use the alias instead.

The alias can be any unique identifier such as a phone number, email address, or username. The payer enters the alias into their banking app or website, and the payment is then directed to the recipient's account based on the matching alias in the recipient's banking information.

Payment by Alias is designed to simplify the payment process for users, and it is often used in the context of instant payments where speed and convenience are essential. This method is widely used in many countries as a part of the instant payment infrastructure, and it has become an important feature of digital payment systems.