BPAYs Osko solution gains leeway in Australias New Payments Platform

As reported in February 2018, New Payments Platform was launched – industry-wide payments platform for Australia on a national infrastructure, enabling customers with accounts at different banks, building societies, and credit unions to make fast payments. The platform, developed by Swift, went live in November 2017 and has supported funds transfers between employees at different banks, building societies and credit unions.

In the latest development, through New Payments Platform, BPAY has unveiled a marketing campaign (including a 30-second video on its website) to promote and explain Osko. Osko is a complementary service to BPAY and BPAY View, addressing alternative ways for Australians to pay. It is a person-to-person payment service. BPAY Payments is a consumer-to-organisation bill payment service and BPAY View is a bill presentment service.

Osko is now operating inside the banking apps of more than 60 financial institutions and reaching over 42 million consumer and business accounts. Commonwealth Bank of Australia (CBA) and National Australia Bank (NAB) have had Osko ready for customers for several months.