Commonwealth Bank of Australia (CBA)'s PaidIt platform is designed to help businesses process various types of payments, including settlements, compensation, and refunds, especially in situations where recipient information is missing, incomplete, or outdated. The platform integrates recipient verification, communication, and payment delivery functions, leveraging Australia's modern payment and digital identity systems (such as the New Payments Platform, PayID, and ConnectID). This can reduce the median time from a recipient initiating a claim to funds being received to under two minutes. This initiative aims to address Australia's planned cessation of cheque usage by 2028.