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Credit Union SA

Member Experience Team

21 Jan 2021

| Digital Banking

Splitting the bill has never been easier since Credit Union SA rolled out BPay’s Osko real-time payment platform.

Going out to restaurants and bars seemed so complicated 10 years ago.

If someone in your group left their wallet at home, you were forced to all chip in extra to sort out the bill.

If you were out with a friend, and they ate seven-courses to your two, and there were no split bills, you’d be up for an expensive share.

Fast forward all those years and things are much simpler.

You can suggest to that friend who conveniently left his wallet 40km away that he could simply “Osko” you the cash, or transfer money to your other friend in the event of a ‘no split bills’ declaration from the front of house staff.

Credit Union SA rolled out BPay’s Osko real-time payment platform in 2018, one of the first financial institutions to get on board.

Credit Union SA’s Product Analyst, Veronica Padilla says: “Osko transfers are instant, with the movement of money in real-time allowed through online banking apps, getting rid of annoying delays which in the past would have seen cash transfers take up to several days to clear between institutions.”

If you want to pay a tradie for work on a weekend, they’ll have it as soon as you say ‘would you like another cup of coffee?’. Parents are even swapping cash pocket money for an ‘Osko’ payment, once all the chores have been done around the house.

You can also use up to 280 characters (as much as a Tweet) to describe the bank transfer, and it’s located within your online banking app and backed by BPay so it’s secure to use and easily traceable.

“Over 70 banks and financial institutions across Australia use the Osko payment method including us, here at Credit Union SA,” Padilla says.

“In fact, we were one of the first to release this service back in 2018, along with digital payment options like Apple Pay and Google Pay.

“We knew adopting these innovative digital payment methods would give our customers the flexibility and freedom to make payments using their phone, watch or card- whatever works for them.”

Some of the other ways Osko is used are for quick money transfers for the purchase of goods online, such as Gumtree, and the dividing of bills and living costs in a share house.

Osko has also been a popular substitute for cash during the Covid-19 pandemic, where many retailers and sellers opted for contactless sales.

BPay reported last year – on a single day in April – more than 1.4 million transactions were made across Australia using Osko, adding up to just over $2.03 billion in money moved instantly.

Veronica says people are realising using something that’s fast and safe is better than old fashioned cash.


“Throughout the pandemic, we have been a significant increase in digital payments as customers move away from using cash,” Veronica says.

“This includes the usage of Osko payments, BPay, ‘The Pays’ and PayWave and we expect these digital payment trends to continue in the future and become the new norm.”

Pay your way

This article was originally published on InDaily as Have you met Okso?

This article is intended as general information only and has been prepared without taking into account the personal financial situation, objectives or needs of the reader. You should consider the appropriateness of the information, including the relevant terms and conditions, before acting on it.

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