National Australia Bank (ASX:NAB) and Amazon have launched the Pay by Bank (PayTo) payment service, allowing the bank's Australian shoppers on Amazon to pay directly from their accounts without using cards, the lender said in a statement on Jan. 31.

The new payment option, available at checkout, allows direct bank payments via secure online banking authorization, the bank said.

Once approved, shoppers can make one-off or recurring payments with a single click, streamlining the checkout process without the need for card details, the bank added.