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Issue 6
Comparing Apples with Apples?
The results of BPAY's 2008 annual Usage and Attitude Study show that BPAY remains the preferred choice for Australian bill payers, over other methods such as in-person and direct debit.
As an alternate form of electronic funds transfer, Pay Anyone does share some similarities with BPAY. However there are a number of key differences separating the two, most significantly related to reconciliation and security.
The table below provides a broad comparison of the two payment methods.
| BPAY | Pay Anyone | |
| Confidentiality | The Biller's banking details remain confidential, with the customer only requiring the biller code to make a payment. | Requires the Biller to tell customers their banking details for customers to make a payment. |
| Convenience | There is a structured approach for recognising a customer with a Customer Reference Number. This makes the back end reconciliation process much simpler as it is automated. | The customer can only enter a limited amount of text to describe the payment, making it more complicated to match a payment to a customer. |
| Capability | BPAY is a Scheme, with a set of rules and operating procedures which include arrangements for managing mistaken payments. | It can be difficult to return money to the customer if an error is made as there is no scheme in place to clarify the procedure. |
| Confidence | The Scheme has processes for identifying a Biller, thus reducing the risk of fraud. | Anyone can receive a payment; therefore the risk of fraud is increased. |
| Due to the reduced risk of fraud, value limits for payments are able to be higher than a Pay Anyone limit. | Value limits for payments are often set lower as it is harder to identify the person receiving the payment. |
