BPAY is a service offered through financial institutions and it has fast become one of Australia's most popular bill payment services.
The tables below provide a snapshot of the past decade with statistics that give support to Australia's reputation as an early adopter of IT.
BPAY (launched in 1997)
| BPAY 1997 | BPAY 2011 |
|---|
| 9: The number of financial institutions that offered BPAY at launch | over 160: The number of financial institutions that offer BPAY |
| 35: Number of billers signed up with BPAY at launch | over 20,000: Number of billers that offer BPAY, increasing at an annual rate of 14% |
| 235,000: Number of BPAY payments made in its first full month of operation | 26.84 million: Number of BPAY payments made in March 2011 |
| $37 million: Value of BPAY payments made in its first full month of operation | $19.09 billion: Value of BPAY payments made in March 2011 |
| 30%: Percentage of BPAY payments made through internet banking (2000) | 89%: Percentage of BPAY payments made through internet banking |
BPAY View (launched in 2002)
| BPAY View 2002 | BPAY View 2011 |
|---|
| 4: Number of billers signed up with BPAY View at launch | 42: Number of billers signed up with BPAY View |
| 91,000: Number of bills presented via BPAY View in its first year of operation | 9.33 million: Number of bills presented via BPAY View in 2010 |
| 36,000: Number of people registered for BPAY View | 2.2 million: Number of bills registered for BPAY View |
It's through over 160 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
BPAY payment from a credit card account
In addition to the capture reimbursement fees described above, the biller's financial institution pays 5.5 cents per transaction to those bill payer financial institutions that have implemented BPAY View.
^ Billers and consumers with any queries relating to charges incurred for using BPAY services should contact their financial institution.