Today’s banking and finance article will show you how Osko makes money in Australia.
We will first show you who owns Osko
Who Owns Osko In Australia
Osko is a service from the New Payments Platform (NPP) owned and operated by Bpay.
The service has collaborated with over 70 financial institutions in Australia to enable customers to make bank transfers in less than a minute.
Customers can access the service through mobile and online banking services.
This is important information about who owns Osko in Australia.
Now that you know who owns the service, we will show you exactly how Osko makes money in Australia.
How Does Osko Make Money
Osko by Bpay works by enabling near real-time money transfers between banks and financial institutions.
The standard transaction charges are applied when you transfer funds to a bank account with Osko.
There are no extra charges when using the near real-time money transfer service.
Transacting through Osko earns the particular bank or financial institution funds accrued from the transaction fees.
The transaction fees vary with the amount of money being transacted.
The fee applied also depends on the financial institution.
Some banks have higher transaction fees than others.
Osko benefits and earns through the banks that have enabled the service.
The service benefits from the bank users’ transactions using the PayID or the BSB and account number.
This is how Osko makes money in Australia.
Now that you know how Osko makes money, we will show you exactly how Osko payment works.
How Osko Payments Work
You can make simpler, faster, and secure bank transactions using a PayID or BSB and account number.
The service is available on 24 hours basis and is even open on weekends and public holidays.
To use the service, you have to activate the service through your bank.
It would help if you created a PayID or a BSB and account number.
When you activate, you just carry out your regular transactions. You will see Osko or the Osko logo at the end of the transaction.
You will also notice the logo or Osko’s name when you receive payment.
This is how Osko makes money in Australia.
