BPAY Today
BPAY is a service offered through financial institutions and it has fast become one of Australia's most popular bill payment service.
The tables below provide a snapshot of the decade past with statistics that give support to Australia's reputation as an early adopter of IT.
| BPAY 1997 | BPAY 2007 |
|---|---|
| 9: The number of financial institutions that offered BPAY at launch | 180: The number of financial institutions that offer BPAY |
| 35: Number of billers signed up with BPAY at launch | 15,270: Number of billers that offer BPAY, increasing at an annual rate of 4.5% |
| 235,000: Number of BPAY payments made in its first full month of operation | 18 million: Number of BPAY payments made in July 2007 |
| $37 million: Value of BPAY payments made in its first full month of operation | $11.2 billion: Value of BPAY payments made in July 2007 |
| 30%: Percentage of BPAY payments made through Internet banking (2000)** | 77%: Percentage of BPAY payments made through Internet banking ** |
| 1: Number of full time BPAY staff | 10: Number of full time BPAY staff |
BPAY View (launched in 2002)
| BPAY 1997 | BPAY 2007 |
|---|---|
| 4: Number of billers signed up with BPAY View at launch | 21: Number of billers signed up with BPAY View |
| 91,000: Number of bills presented via BPAY View in its first year of operation | 2.2 million: Number of bills presented via BPAY View in 2006/2007 |
| 36,000: Number of people registered for BPAY View | 390,000: Number of people registered for BPAY View |
It's through 180 participating financial institutions that billers and consumers access the BPAY services. BPAY Pty Limited has no direct relationship with billers or end customers
Fees are paid by participating financial institutions for the BPAY services. Included are fees relating to processing costs and BPAY scheme membership.
BPAY Payments Wholesale fee
The BPAY scheme also sets a wholesale fee, called the Capture Reimbursement Fee (CRF), for BPAY payments.
The CRF is paid as a reimbursement for the costs incurred by the bill payer's financial institution in capturing and processing bill payment instructions on behalf of the biller's (merchant's) financial institution.
This fee is paid by the biller's financial institution to the bill payer's financial institution. The fee varies depending on whether the payment is funded from a customer's debit account or from a customer's credit card account.
BPAY ensures best practice in setting its fees with regular independent reviews of the CRFs undertaken by leading payments economic consultants. The CRFs are calculated using a cost-based methodology and have declined over time as transaction volumes have increased.
The following wholesale fees payable between financial institutions (inclusive of GST) are effective as at 1 December 2006.
BPAY payment from a debit account
- 45.1 cents per transaction
BPAY payment from a credit card account
- 40.7 cents per transaction; plus
- 0.297% of the transaction value.
In addition to the capture reimbursement fees described above, the biller's financial institution pays 5.5 cents per transaction to the bill payer's financial institution if the bill payer's financial institution has implemented the BPAY View electronic bill presentation service.
^ Billers and consumers with any queries relating to charges incurred for using BPAY services should contact their financial institution.