Search: BPAY
RBA Glossary definition for BPAY
BPAY – BPAY is a payments clearing organisation owned by a group of retail banks. Individuals who hold accounts with a BPAY participating financial institution can pay billing organisations which participate in BPAY, using account transfers initiated by phone or internet. The transfers may be from savings, cheque or credit card accounts.
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Appendix A – Study Methodology | Results of the Reserve Bank of Australia's 2010 Consumer Payments Use Study June 2011 | Consultations
7 Jun 2011
Consultations
6 – Personal cheque. 7 – BPAY. 8 – Internet/telephone-banking transfer (pay anyone).
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/results/appendix-a.html
Consumer Payment Behaviour in Australia
19 Mar 2020
Bulletin
– March 2020
The Reserve Bank’s 2019 Consumer Payments Survey has provided further evidence that Australian consumers are increasingly preferring to use electronic payment methods.
https://www.rba.gov.au/publications/bulletin/2020/mar/consumer-payment-behaviour-in-australia.html
Strategic Issues – Scope of Migration | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019
31 Dec 2002
Consultations
BPAY – used for bill payments. These payments are bilaterally cleared between participating institutions through BPAY and settled periodically in multilateral batches in RITS. ... Cheques. 274.8. 3.3. Direct Debits and Credits (includes BPAY). 13,654.3.
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/strategic-issues-scope-of-migration.html
The Use of Online and Newer Payment Methods | Results of the Reserve Bank of Australia's 2010 Consumer Payments Use Study June 2011 |…
7 Jun 2011
Consultations
BPAY payments can be made via a bank's internet-banking site, phone-banking service or mobile payments service. ... The diary results suggest that around 77 per cent of BPAY payments are made via internet banking.
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/results/online-newer-payment-methods.html
Early Views and Priorities | Strategic Review of Innovation in the Payments System: Issues for Consultation June 2011 | Consultations
7 Jun 2011
Consultations
Finally, the Board is conscious that the major banks and BPAY have been working for some time on a new, hub-based retail payments system, referred to as MAMBO.
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/early-views-priorities.html
Innovation Gaps in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for Consultation June…
7 Jun 2011
Consultations
The BPAY MAMBO system, which is currently under development, has been suggested as one system that might be able to provide this. ... Widely used systems such as BPAY and Direct Entry are not able to provide this functionality, while the eftpos system
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/innovation-gaps.html
Developments in the Buy Now, Pay Later Market
18 Mar 2021
Bulletin
– March 2021
The buy now, pay later (BNPL) sector is growing rapidly and new providers and business models are emerging.
https://www.rba.gov.au/publications/bulletin/2021/mar/developments-in-the-buy-now-pay-later-market.html
Two Years of Fast Payments in Australia
19 Mar 2020
Bulletin
– March 2020
It has been two years since the public launch of the New Payments Platform (NPP) and the Fast Settlement Service (FSS).
https://www.rba.gov.au/publications/bulletin/2020/mar/two-years-of-fast-payments-in-australia.html
The Use of Established Payment Methods | Results of the Reserve Bank of Australia's 2010 Consumer Payments Use Study June 2011 |…
7 Jun 2011
Consultations
8). The largest decline in cash use was for household bills. This may reflect increased promotion by billing companies of ‘paperless’ bills, which encourages payment by electronic means, such as BPAY. ... The majority of bill payments are made by
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/results/established-payment-methods.html
The Evolution of Interbank Settlement in Australia
17 Mar 2022
Bulletin
– March 2022
Electronic payments are ubiquitous in modern economies and result in financial obligations between different financial institutions.
https://www.rba.gov.au/publications/bulletin/2022/mar/the-evolution-of-interbank-settlement-in-australia.html