As the rollout deadline approaches, Confirmation of Payee may need to race on off-system BSBs and allocated EFT

Senior Business Correspondent
10 Dec, 2025
Michael Sainsbury
Senior Business Correspondent
10 Dec, 2025
The rollout of Confirmation of Payee is due for completion by year end, already reaching 141 million Australian bank accounts across 116 organisations. But like all payments upgrades there may be some work still to do at the edges, including off-system BSB and allocated EFT transactions.
As the rollout deadline approaches, Confirmation of Payee may need to race on off-system BSBs and allocated EFT

The rollout of Confirmation of Payee is due for completion by year end, already reaching 141 million Australian bank accounts across 116 organisations. But like all payments upgrades there may be some work still to do at the edges, including off-system BSB and allocated EFT transactions.

Subscriber article

This article is available to PayDay News subscribers.

trending

Yoti has added ConnectID to its age assurance platform, while PayDay News understands Epic Games also offers the service through Kids Web Services in a separate, unannounced move
Online contact accounted for two-thirds of scam reports involving financial loss among people with disabilities in 2025, prompting warnings from Commonwealth Bank and Vision Australia.
Coles’ quiet move to acquire Paydock brings payment orchestration technology into its retail payments business, with ACCC clearance carrying no special conditions and the platform already serving major
On The Interchange Bench this week, Novatti founder exits board, Cuscal summit puts financial crime and AI on agenda, Kuhlmann takes Westpac transaction banking role, Humm chair and
For the eight months to August 2026, Australians stopped using credit cards, paid down what they owed, and took out more cash. Surcharging ended on 1 October but

RELATED STORIES ▸

Yoti adds ConnectID age checks, while Epic Games adds ID verification
Yoti adds ConnectID age checks, while Epic Games adds ID verification
Yoti adds ConnectID age checks, while Epic Games adds ID verification
Yoti has added ConnectID to its age assurance platform, while PayDay News understands Epic Games also offers the service through ...
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
For the eight months to August 2026, Australians stopped using credit cards, paid down what they owed, and took out ...
ABA’s last minute hub plan raises questions about branch closures, commitment and competition
ABA’s last minute hub plan raises questions about branch closures, commitment and competition
ABA’s last minute hub plan raises questions about branch closures, commitment and competition
CBA, Westpac, NAB and ANZ seek urgent permission to coordinate on regional pop-up service “hubs" in settings such as libraries ...
A2A roadmap faces October test on bulk and pull payments
A2A roadmap faces October test on bulk and pull payments
A2A roadmap faces October test on bulk and pull payments
Australia’s payments roundtable is still weighing how to deliver bulk and pull payments, with customer forums starting in October and ...
CBA chases ANZ to own trans-Tasman payments corridor
CBA chases ANZ to own trans-Tasman payments corridor
CBA chases ANZ to own trans-Tasman payments corridor
As major banks scramble to unify fragmented trans-Tasman payment systems, agile fintechs and digital currencies are quietly siphoning off high-margin ...
Swift may bring PayID into cross-border payments push soonish
Swift may bring PayID into cross-border payments push soonish
Swift may bring PayID into cross-border payments push soonish
Australian Payments Plus (AP+) and Commonwealth Bank have joined a Swift initiative to let Australians send money overseas using familiar ...

Got a story to share?

Get in touch with PayDay News today!

Advertising Enquiry

Fill out the form below, and we will be in touch shortly.

Contact Information

Got a story to share

Fill out the form below, and we will be in touch shortly.

Contact Information