Osko accelerates real time payments in Australia
Osko by BPAY, the first product built on the New Payments Platform in Australia, is now operating within the online banking of more than 60 financial institutions, reaching over 42 million consumer and business accounts.
The product makes it faster for people to pay each other and get paid, securely through their online banking. Money can be sent and are received in under a minute via a PayID or BSB and account number between participating Osko banks and financial institutions. Osko payments also allow users to include up to 280 characters of text or even emojis to describe the payment.
“Osko by BPAY is proof that together as an industry we can deliver ground-breaking innovation that benefits customers. We enjoy and work best when we are bringing together the industry to provide further value to all Australians” said John Banfield, CEO of BPAY Group.
Banks and financial institutions that offer or are rolling out Osko payments to their customers include: Commonwealth Bank, ANZ, Westpac, NAB, Bankwest, ING, and Bendigo Bank.