How To Do Online Bill Payment Right

Australians have a strong appetite for paying bills and managing their finances online. In fact, Forrester's Asia Pacific Consumer Technology Adoption Study (APCTAS) reveals that more than 70% of Australia's online consumers have paid bills, checked bank or brokerage account balances, and made transfers between bank accounts on the Internet. Accounting for more than 60% of all Internet banking transactions, the electronic bill payment service BPAY is believed to have been a catalyst for all other Internet banking transactions. The service already dominates the electronic bill payment market. With recent news that BPAY's only real competitor, Australia Post's Postbillpay, will discontinue its Internet service, the firm will soon strongly dominate intermediated Internet bill payments. The secret behind BPAY's success? Cooperation.