BPay
BPay is an electronic payment system offered by many Australian financial institutions. It allows consumers to pay bills through their Internet Banking or Phone Banking enabled accounts. Most banks offer BPay payment for loans and credit card bills. A BPay registered service will issue consumers a Biller code and reference number, which transfers funds from your account to your biller's. BPay payments are available 24/7 and are usually processed within the day, except during non-banking days where they are processed the following day. Australia Post recently came up with a rival scheme called POSTbillpay.