The move to mobile

The move to mobile

BPAY and BPAY View are in a good position as the revolution of mobile banking picks up speed. According to a recent study conducted by research company TNS, 66% of Australians now own a smart phone and an increasing number of us are using our smart phones to do our banking.

Now, more than six million of us use mobile banking, with the take up of mobile banking accelerating at a much faster pace than the take-up of internet banking when it was first introduced. BPAY’s own research shows one in four Australians now use their mobile or tablet for internet banking.

So it’s not surprising that today, almost half of BPAY’s Members offer mobile banking and most of these also offer BPAY as part of their mobile platform.

As part of BPAY’s ongoing commitment to mobile banking, we have recently released Quick Response (QR) code specifications. This means financial institutions can now develop internal systems to process information contained in QR codes placed on bills.

It also means Billers can include QR codes on both electronic and hard copy bills that consumers can scan using a QR code reader from within their mobile banking app. The code will pre-populate information from their bill in their financial institution’s online banking system. Customers will then be able to pay the bill with BPAY and/or register for BPAY View.

The first financial institutions are expected to offer consumers the ability to send information to their internet banking system using a QR code embedded on a bill in the first half of this year.

While we are talking all things mobile, the BPAY Scheme is currently making changes to the BPAY Hub so Financial Institutions will be able to report on BPAY payments made via mobile phone banking, as well as on payments made via phone or internet banking. We’re expecting this upgrade will be complete by the end of 2014.

Register with your Financial Institution for BPAY services