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New Payment Platform - Osko, NPP, PayID etc.

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  • #46
    Originally posted by Yelta View Post
    Strange thing is these occurrences have always happened to us shortly after an overseas trip.
    Yeah, I hear a lot of post trip fraud stories. I've been no where interesting which means one of my "trusted" suppliers got (quietly) hacked I expect. These cards don't get used in ATM's, nor stored in web browsers, had to come from someone storing it... Xero, phone company, insurance company, internet supplier etc.


    • #47
      FWIW, I have two credit cards. I have one from a domestic bank only used for domestic transactions and which is blocked to international transactions, and another card with no international fees and good exchange rates used for international transactions. This prevents cross-contamination, unless a domestic merchant is hacked, as you seem to suspect. The flaw with this two card strategy is that sometimes you make a transaction that you think is domestic, but which involves international processing, and thus hits the block. E.g. Uber (sometimes) and Booking dot com.


      • #48
        Faster, simpler payments are here with Osko® & PayID
        From: Westpac
        7:00pm, 11 Sep 2019

        Hi ,

        Osko payments have been added to your eligible accounts in Online Banking allowing you to receive and make near real-time payments using a BSB and account number. Your Pay Anyone payments (between eligible accounts at different banks) will now go through typically in a few seconds but may take longer[1], 24/7, even on weekends and public holidays. You'll also notice a longer payment description.

        You can also make Osko payments to others using their registered PayID. PayID types include a mobile number, email address, ABN (which includes ACN, ARBN and ARSN) or organisation ID. When you pay to a PayID, the name of the person or business linked to it is shown, so you know who you are paying.

        At a later date, you'll be able to register your ABN as a PayID and receive payments to it, instead of using a BSB and account number. In preparation, you can check that the ABN we have on our records for your business is correct.

        You'll receive a message in Online Banking or your Mobile Banking app when you can register your ABN as a PayID.

        For more information, please see our FAQs

        The Westpac Team


        I've not tested it yet but the above notice from last night makes it appear that we can now receive Osko payments using the BSB and Account number but not using PayID.

        Still their system won't export transactions more recent than yesterday so it's work in progress but maybe Westpac are moving forward (albeit like a slug).


        • #49
          CS'rs Osko payments are still bouncing.

          After an hour in branch and more than that on phone calls today...

          * Osko - Won't work on the BeanBay account, only a different transaction account with different account numbers.
          * Their system won't export transactions more recent than yesterday (and they can't really see the issue!)

          STUPID BANKS

          I'm leaning towards changing banks as we will have the grief of changing account numbers anyway.


          The "once in a generation" new payment platform is working a treat for us!


          • #50
            I finally registered for PayID with CBA last night, as I was selling something (not coffee related) and it seemed the fastest way to get the money from the buyer's bank so that I could post asap. He also had to register. And then it worked a treat. Money was there pretty much immediately. I'm off to the PO with a parcel this morning. When it works it works well. I'm sorry to hear that you've had such dramas. Once the bugs have been ironed out this has to be a better system than the wing-and-a-prayer direct transfer system, where you get no confirmation that you've entered the correct account details, and there is at least a day's delay.


            • #51

              I wouldn't be using it. There have already been two large breaches of its security with 98,000 PayID details pilfered in June 2019 and then another 92,000 PayIDs and their details in August. The crooks simply did PayID looks ups of sequential phone numbers. The Banks didn't pick this up even though it was 600,000 PayID lookups over 6 weeks. How easy it was was pointed out by security researchers - you just try random phone numbers and if they have been linked to a PayID the persons name appears. Then they get a bit more info for Phishing. One would have thought the banks security would have thought of this and had detection systems in place before the large rollout. What else haven't they thought of?

              PayID is a trade off - you get convenience but at the cost of a loss in security.



              • #52
                I suspect from something I read after the second breach that the NPP now has a time/count limit on lookups which is a pretty simple fix that should have been there from day one and certainly after bleeding data in June.

                The real gotcha with this new system is that it appears that it's not opt-in/out for many. I know when Westpac enabled it on one of our business accounts the next time I transferred to a BSB/Account it automatically was sent via Osko and I couldn't choose. It appears to magically check if the receiving account can Osko and will use that if it can.

                Lots of CS'rs paying us via their banking apps have also found theirs wasn't optional either and some have found that it defaults to Osko and then tries our account number when it fails. Others are still defaulting to Osko and then bouncing the payment when our BeanBay account doesn't work.

                PayID appears to be optional so you can choose if you want your mobile phone number linked to your account. That's separate to having an Osko enabled account that will receive fast payments to a BSB/Account number.

                Although, it appears that Westpac business accounts will automatically use ABN's for PayID at some point in the future but it's not enabled yet.

                It's a mess!


                • #53
                  BeanBay finally accepts Osko Payments!

                  Okay, so it was a long time in the making and sadly it required a new business account along with new account numbers to make it happen but we can now accept Osko - NPP fast payments into BeanBay.

                  What's the difference?
                  Speed. In theory most transfers will happen near instant even on holidays and long weekends unlike now when a transfer can take up to 5 days across a public holiday weekend.

                  How do I Osko?
                  Normal EFT details, using our new numbers work fine.

                  Bank: Westpac
                  Name: Coffee Snobs
                  BSB: 033208
                  Account: 445122
                  Description: (your invoice number)

                  Osko allows silly long messages, please start with your BeanBay invoice number so we can easily identify the payment you can then tell us a joke, a clever quote or write "coffee beans" if you need to. We only need your invoice number though.

                  The only gotcha we know about (apart from the pain of changing account numbers) is that Westpac doesn't support exporting today's Osko payments so it will be a clunky, manual process at this end. We'll check the account a few times a day and mark orders as paid, we'll also make sure we do that before the courier gets here and before we go to the post office.

                  Order cut-off time?
                  As always we pack and ship every paid order Monday to Thursday, ordering earlier in the day ensures that you don't miss the freight pickup for that day.

                  For most CS'rs the change won't be noticed but it should make the shipping faster for first time orders and around weekends and holidays.


                  • #54
                    Osko must have come to paypal. Just went to my account and they are offering the choice of instant payment into your account rather than a few days. They are charging 1% with a maximum of $10 - never miss a chance to charge for something you are getting for free!


                    • #55
                      Yeah, I did see that too a week ago and had similar thoughts.

                      PayPal's "slow" transfer is still pretty quick though, I was worried they might have added an extra day to the normal processing speed to make their "fast" one look better.

                      Westpac still can't handle Osko well. We can't export any Osko payments from today, only from yesterday or prior and weekend Osko payments are all forward dated in my account to Monday's date so an Osko payment on Saturday will have Monday's date on it and can't be exported till Tuesday.


                      Hey Westpac, Saturday in to Tuesday out 'aint really what the fast payment platform was meant to be!