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Osko hits 10 million payments, $6.5 bn in value

08 June 2018 4:29PM
Osko by BPAY, the first product to be launched on the New Payments Platform, has now been running for three months, notes BPAY Banter, the communication platform for the bill payments service.Reviewing the progress of its person-to-person payment product, BPAY discloses that over 10 million payments having been sent, worth over A$6.5 billion in transaction value. "Osko has continued to roll out with 62 banks now live and many more to come over the next 3 months," the BPAY Banter item notes. The article claims elsewhere that in the next two months "up to 80 per cent of Australians will be saying hello to Osko in their online banking."The first three months of data have also provided some further insights: payments over the weekend are increasing as awareness grows and behaviour changes; over 1.6 million people have registered a PayID and are able to receive Osko payments to their email address or mobile phone number (source: NPP Australia data);  and P2P payments have been accounting for 80 per cent of Osko volumes in a market of 45.9 billion payments annually (source: banking research house RFi).    

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