A new faster, simpler, smarter way to pay

Bank First will be one of the first financial institutions participating in the New Payments Platform, a major industry initiative to develop new infrastructure for Australian payments. It will provide our Members with faster, simpler, smarter payments through a fast, versatile, data-rich payments system.

We will be launching the first phase of the New Payments Platform in early 2018, allowing you the option to make payments in near real-time using a mobile phone number, email address, ABN or Organisation ID. 

PayID and Osko® by BPAY are services that will be available to Members as part of the New Payments Platform launch, with further products and services to follow. 


  • Speed 
    Send and receive payments in near real-time.
  • Convenience
    Send and receive payments at any time of the day, any day of the week – 24/7.
  • Data Enriched
    Send more complete remittance information with payments.
  • Simple Addressing 
    Eliminate the need to enter a BSB and Account number and send and receive payments using only a registered PayID, such as a mobile phone number or email address.

Find out more

What you need to know

  • Who is behind the New Payments Platform?
    The New Payments Platform is an industry wide initiative, collaboratively developed and funded by thirteen participating financial institutions. These thirteen financial institutions, including our payments provider Indue, have come together to form the New Payments Platform Australia Limited (NPPA) to oversee the build, operation and management of the New Payments Platform.
  • When will the New Payments Platform be available?
    The industry has a complex and thorough testing regime to complete before a decision is made to make the New Payments Platform, including PayID and Osko available to the public. Subject to this testing, we expect the New Payments Platform will be available to our Members early 2018. More information will be communicated closer to the launch.

    New Payments Platform services provided by the Bank can be accessed by Members who are registered for Internet Banking and SMS Security. If you’re not currently registered for our online and SMS Security services, you can register now by calling our Member Contact Centre on 1300 654 822 or visiting one of our branches during business hours. 
  • Can I still use my current payment methods?
    Yes, you can continue to use your current payment methods. The New Payments Platform is an optional payment method that will be available in addition to the current payment options. 
  • What is PayID?
    PayID is a smart address for payments, created by linking a financial account that you own to a recognisable and memorable piece of information such as your mobile phone number, email address, ABN or Organisation ID. PayID enables you to send and receive payments with unprecedented ease, convenience and confidence using just this smart address. 

    For further certainty and confidence when making payments, registered PayID’s will present the associated owner’s name at the time of transacting and before you send a payment, providing an opportunity to confirm that the payee is indeed the person or company you are intending to pay. 
  • What is Osko?
    Osko by BPAY is an innovative payment service, built on the New Payments Platform. It allows you to make and receive payments in near real-time and is available all day, everyday via any participating Financial Institution. Members will have the ability to include more information than ever before to accurately describe their payment. Rather than having to enter lengthy account details and waiting hours or days to receive a payment from someone, you can transfer funds in a much more simple way with funds available almost immediately.
  • How safe is the New Payments Platform?
    Participating financial institutions are taking a collaborative approach to ensure the highest security and fraud prevention measures are in place.   

    Fraud levels in Australia's payment system are amongst the lowest in the world, because of the actions and investments by all parties and their commitment to work collaboratively to reduce fraud. Australian financial institutions have very good fraud detection, screening and alert systems and these capabilities will apply to the New Payments Platform providing a safe and secure system for our Members. 

    All services offered via the New Payments Platform, including PayID and Osko must meet strict requirements. This includes procedures for fraud, liability rules for mistaken payments, misdirected payments and when using PayID. 

    We regularly monitor online transactions and investigate for any anomalies to ensure that your online security is not compromised. We currently provide 24/7 Visa Card monitoring and this will extend to the New Payments Platform for additional security and protection. 
  • How do I prepare for the New Payments Platform?
    When the time comes, we’ll ensure that you have detailed information to assist your understanding and confidence in the services that will be offered.

    To ensure you don’t miss out on this information, check that your mobile number, email and postal address are current. To verify your information, simply log on to Internet Banking, select Maintenance and the Update Contact Details tab. 
  • Learn More
    NPP – visit www.nppa.com.au 
    PayID – visit www.payid.com.au 
    Osko® - visit www.osko.com.au