G&C Mutual Bank is pleased to be on board as a participating financial institution for the roll out of the New Payments Platform (NPP) when it is launched early in 2018.
You will soon be able to make and receive payments in real time, 24/7 through a new fast payments service called the ‘New Payments Platform’ (NPP).
NPP will make getting paid or paying someone a lot easier, faster and simpler through the use of a unique identifier, or ‘PayID’. It's a great way for friends to split the bill at lunch, transfer money to a family member or pay a tradesman at home.
The first innovative product delivered via the New Payments Platform will be Osko® by BPAY. It will be a convenient and accessible service for you to send payments from an account at G&C Mutual Bank, 24/7 to payees using a mobile phone number or email address, with fast availability of cleared funds, rich data and confidence in delivery.
Osko ® by BPAY
What's not to love about Osko®?
- Faster payments across over 50 institutions - and more to come
- Available all day, every day - even weekends
- You can use a PayID to pay and get paid with something simple like a registered mobile, email or ABN. Or you can still use a BSB and account number to send and receive payments.
- It's backed by BPAY and us, so it's very secure
- You will be able to use 280 characters to better describe your payment including who and why.
PayID is the name of the New Payments Platform addressing service. It’s a function of the platform that allows you to link your G&C Mutual Bank accounts to easy-to-remember pieces of information such as phone numbers and email addresses.
What's better about PayID?
- PayID and faster payments - PayID is designed to make life just that little bit simpler and will work seamlessly with the new Osko® by BPAY service. You will be able to make and receive payments faster than ever before, 24/7 through G&C Mutual Bank Online and Mobile Banking.
- Pay the right person - When you use a PayID with a service like Osko®, the name of the person who owns that PayID is shown immediately before you approve the payment. then all you have to do is simply confirm it's the right person.
- Keeping member's details private - PayID means that you don't have to share your BSB and account number, so you can keep them private.
What to know more about PayID?
How can you get ready for NPP?
While the New Payments Platform isn’t available just yet, there are things you can do to make sure you are ready to take advantage of this service.
- Check that your mobile phone number and email address are up to date at G&C Mutual Bank.
- Register for Online Banking service.
- Download G&C Mutual Bank Banking App