BPAY

BPAY was launched, on 18 November 1997, as an electronic bill payment system for bill payments by phone. It was the world's first single bill payment service adopted across a national banking sector. In 1998, 16% of Australian households had residential internet service; ten years on, the figure had risen to 67%. BPAY is considered a driver for online banking.

In 2001, 56% of payments were authorized by phone, and 44% were executed online. By 2007, 76% of payments were performed online, while 24% were initiated by phone.

In 2002, BPAY View was introduced, which delivers bills and statements electronically to participating Australian financial institutions, which then send an SMS or email to the customer who would go onto the internet banking site to authorise payment.

As of January 2015, BPAY payments can be made through more than 156 participating Australian banks, credit unions and financial institutions. More than 45,000 businesses accept payments using BPAY and each month approximately 30 million bills to the value of $24 billion are paid using BPAY. In 2022, BPAY was offered by over 60,000 businesses.

In the spring of 2021, Osko assigned a change in strategy at the New Payments Platform (NPPA) as the trigger for its write-down of Osko. That September, the Australian Competition & Consumer Commission (ACCC) authorised the proposed merger of Eftpos with BPAY Group Holding Pty Ltd and NPP Australia Ltd, better known as the NPPA.