Selling second-hand goods online is a simple way to make some extra cash, but multiple payment methods can add a layer of unnecessary complexity.


Cash, bank transfers, and various online payment methods all have their strengths and weaknesses. 

“I've been stung before,” says Hugh, who regularly buys and sells goods online. Last year he sold a new video game for $45 only to have the buyer show up with just $40 in cash.

“Then it gets awkward. I prefer the idea of just showing up and grabbing what you’ve already paid for online.”

So when he was recently about to buy a $100 set of drawers on Gumtree he offered to transfer the funds using PayPal. 

“I love how that changed people's faith in purchasing online without seeing the buyer face-to-face, but the seller said he’d have to pass on PayPal’s commission.”

While it was only an extra $2.90 in acceptance fees (2.6 per cent of the sale price plus 30c), Hugh says he “loves a bargain”, so he instead trialled the Osko payment service for the first time.

Avoiding the awkwardness of cash

Osko is a revolutionary payment service offered by BPAY Group, which was launched earlier this year. Bank transfers, which require the recipient’s PayID (such as an email or mobile phone number) or BSB and Account Number, now occur in less than a minute between over 60 banks. 

“We were just talking over the Gumtree message app and then A asked him for his phone number, which he gave to me, and I paid him. He messaged me two seconds later and said ‘got it’ and marked them as sold.”

Using Osko allowed Hugh to avoid the awkwardness of withdrawing and handling cash, as well as paying PayPal’s extra fees. 

Bank transfers have historically accepted only a six-digit BSB and Account Number and take 2-3 days to complete. 

Hugh says another attraction was that Osko didn’t require a separate app or system: it was built directly into his bank’s online banking service.

“I didn't have to get another app, which is good, because you’ve got too many of those floating around on your phone already.”

Australia’s second-hand economy is worth more than $34 billion a year, according to Gumtree’s latest Second-Hand Economy Report. Almost 100 million used goods were sold in the last 12 months with the typical household holding an average of 25 unused items. 

More Australians envisage cash-free future

Hugh says Osko is a strong digital replacement for cash as transfers are almost instantaneous.

“If I was selling something online and I had a lot of interest, I would ask someone to give me a deposit via Osko and hold it for them. There’s none of the awkwardness around cash or do I need to get change. I've actually told quite a few people about it.”

The average seller makes about $1,577 per year, with popular sale items including clothing, shoes and accessories (22 per cent of sales), homeware and furniture (20 per cent) and electronic goods (18 per cent), according to the Gumtree report.

While cash remains the most popular payment method across all age groups, a growing proportion of Australians can envisage a future where they don’t use cash at all because they have other ways of paying, according to a separate report by RFi Research.

Of those consumers that have used Osko, more than two-thirds said they were highly satisfied according to the research.

The comments represent the feedback received by BPAY Pty Ltd (BPAY) from consumers. Comments are limited to individual situations. BPAY has not verified this information and BPAY does not provide tax or legal advice. Visit www.osko.com.au for further information. Osko payments are offered by over 60 financial institutions. Contact your financial institution to see if it offers Osko and to the get the Terms and Conditions. This is general advice – before using Osko please review the Terms and Conditions and consider whether Osko is appropriate for your personal circumstances.

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