We have introduced functionality that allows people to use their Financial Institution’s QR code scanner to register for BPAY and BPAY View and to pay their bills on their smart phone.
This was launched with CBA and NAB in June 2013, to provide their customers with an easier option for payment.
Our research shows that 40 per cent of consumers have used BPAY to pay a bill on their phones*. These figures have been steadily increasing as more and more Australians use their phones to carry out day-to-day tasks like bill paying, which makes features like QR codes a key to frictionless experiences
So how does it work? Customers simply use their Financial Institution’s QR code scanner located in their mobile banking app to scan the QR code on their bill. This pre-populates payment details within the payment section of the mobile site. All the customer needs to do is click to confirm the payment.
Customers can register for the electronic presentment BPAY View using the code.
QR codes are a win:win for everyone in the BPAY family:
- It means Financial Institutions that offer BPAY as a payment option can meet their customers’ expectations to do their banking on their mobile phone and access a seamless bill paying service.
- For billers, it makes it even easier for their customers to make a payment, which helps bring cash into the business faster. It positions them at the forefront of new technologies. It also reduces the risk that customers will make a mistake when inputting information about their payments, which also helps improve their cash flow position, by reducing refunds.
- There are also less errors as all of the information is pre-populated
For more information of the benefits of QR codes, talk to your Financial Institution.
*Based on BPAY Usage and Attitude survey, 2014
Published by BPAY Pty Ltd. BPAY is offered by over 150 Financial Institutions. Contact your Financial Institution to see if it offers BPAY and to get the terms and conditions. This is general advice – before using BPAY please review the terms and conditions and consider whether BPAY is appropriate for your personal circumstances.