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Get ready for mobile and real time payments

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mobile and real time payments

Providing convenient banking solutions for our customers is always our top priority.

In July 2018 we delivered a new and improved mobile banking app to give you more flexibility and functionality to bank the way you want, anywhere and anytime of the day. The improved app experience and regular enhancements we’ve released since have paved the way for us to support additional payment services offered in the retail banking space - services you’ve been asking for.

We want to ensure you have a seamless experience when we launch mobile and real-time payments services later this year, so please ensure you’re ready.

Get ready for easy, fast and secure payments on the go.

Check or update your contact details within Online Banking (settings/contact details). If you have a missing or incorrect email address or mobile number registered with us, you will not be ready for mobile or real-time payments.

When we launch mobile payment services for both iOS and Android devices, you’ll be able to link your Qudos Bank Visa Debit or Visa Credit Card to your mobile device or smart watch, then simply tap and pay at a merchant.

What are real-time payments?

The New Payments Platform (NPP) enables Australian consumers, businesses and government agencies to make real-time, data-rich payments between accounts at participating financial institutions. The always- on platform enables payment processing 24 hours a day, seven days a week, 365 days a year.

When we go live with NPP later this year, you may choose to continue giving a BSB and account number to those people making payments to your account, or you may choose to give them a PayID.

PayID

A PayID is a simple, easy-to-remember identifier you can give your friends and family instead of providing a BSB and account number. You can create a PayID by choosing something easy to remember, like a phone number or email address and securely linking it to your favourite Qudos Bank account.

Then to get paid, instead of sharing your BSB and account number, simply share your PayID.

Do I need to do anything differently once real-time payments are launched?

If you would like to use the PayID service to receive real-time payments at Qudos Bank, you will need to register via Online Banking or the Mobile App once we launch. Otherwise you can continue to use BSB and account numbers to make or receive payments as normal. Once the NPP service is live payments made using BSB and account numbers may also receive the benefit of being pushed through the real-time payments network, arriving into your payee’s account sooner. We’ll be providing more information over the coming months, so keep an eye out for more details.

How safe are real-time payments?

Financial institutions participating in the NPP are required to have fraud and security controls in place to protect the integrity of the Platform and those who use it. Over the past 12 months, we have made significant investments in predictive fraud monitoring, in anticipation of the launch of real-time payments.

At the same time, the NPP is certified to the highest data security standards and monitored 24-hours-a-day, seven-days-a-week.

We look forward to bringing you both mobile and real-time payment services shortly and will inform you of the release dates as soon as we can. Keep an eye on our website and social media for more information to come.