Feb 14, 2018 | Reading Time: 2 minutes

Splitting a lunch bill? Paying for your share in a girls’ day out? Owe your mate a twenty? Got no cash on you? Don’t worry, paying your friends just got easier!

PayID is here and it is fast, easy and changing the way we bank.


If you’re anything like us, you never have cash on you and it can get a little awkward if you’re out and about splitting payments with pals.

Now, instead of having to remember your BSB and account details for sharing payments, PayID can be your mobile number, an email or an ABN or business ID, so it’s much more accessible, especially if you’re splitting a bottle of wine or two!

It works like this: Osko® is the first service available on the New Payments Platform (NPP) and is backed by BPAY Pty Ltd., so it makes sending and receiving money faster.

You just create your PayID in Beyond Bank’s Internet banking and app (Business customers will need to phone or visit a branch), and you’re ready to roll.

Osko uses NPP, which is a world leading technology certified to highest data security standards. It’s monitored 24 hours a day, 7 days a week, and all payments made on the platform are subject to real-time fraud screening and detection capabilities.

Another great security function is its ability to reduce the risk of misdirected or fraudulent payments, because the sender has to confirm the name of the recipient before finalising the payment to a PayID.

Payments with Osko and PayID are faster because you can send and receive money instantly, 24/7.

It’s easier because you use your mobile number or email address instead of BSB and account number, which makes it smarter because you don’t have to carry those details around with you.

It’s fun, because you can personalise payment messages with up to 280 characters, including emojis!

It’s safer because with PayID, you’ll receive confirmation that your payments are going to the right person.

If you’re into easier banking and better ways to share payments, get into PayID, which is changing the future of banking!

Create a PayID before 14 May 2018 for a chance to win. There is an early bird prize of $10,000 and major prize of $40,000. Entries close 14 May 2018. The more PayIDs you have with Beyond Bank the more chance you have to win. Click here for more information and terms and conditions.

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