what is osko payment

Osko is a near real-time payment service built on the New Payments Platform (NPP) that enables fast payments to a PayID or an eligible BSB and account number. It allows for personal payments to be made instantly, without having to know someones full bank details. Osko payments are designed to bring faster, easier, and more convenient online bank transfers to Australians, making everything from paying bills to buying items online simpler. Osko is backed by BPAY for added security and is currently partnered with over 85 financial institutions, including the big four banks. The process of making an Osko payment is simple and works off your current online banking app, so there’s no need to download anything new. To identify the account you’re transferring to, you have two options: using a phone number or email address, or using a BSB and account number. Osko payments are protected by real-time transaction processing and monitoring capability, and PayID is just as secure as how you bank now.