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BPAY – creating a groundbreaking bill payment system in 14 months

The Australian banking industry was facing threats to its payments business from non-bank competition and pressure to minimise infrastructure costs. Seven different banks had similar challenges but were reluctant to cooperate on a unified response. In 14 months PA helped design and deliver a bill payment system from scratch. We brought the widely differing views of the banks to broad consensus and cut millions of dollars out of the infrastructure and operating costs.

The result was BPAY, a single bill payment service adopted across the banking sector. The state-of-the-art system, delivered in what the banks described as an unprecedented timeframe, continues to be recognised as the global leader. It now defines consumer payments in Australia: 18 million bills worth A$11 billion are now paid each month using BPAY and over 3,000 billers and 170 financial institutions, covering about 90% of the consumer banking market, belong to the scheme.

To learn more about our work in payments or to speak to one of our experts in this industry, please contact us now.