Meeting 11: 15 June 2022

Agenda - Meeting 11

Make coffee/tea
New attendees and Questions from last meetings
Online banking
Q & A
Meeting photo

Outcomes

We had a small group by the end of Meeting 11 with a couple having to leave early.

We first reviewed how to use our camera apps to scan a QR code and follow the embedded link. For practice we showed the QR Codes page which contains the QR code for this site. Several at the meeting made use of the QR code shown on the TV screen to bring up our site.

The main topic of the meeting looked at Online Payments and how in the last couple of years the New Payments Platform (NPP) introduced by the Reserve Bank of Australia has revolutionised making real-time payments which can be initiated from a laptop or mobile phone.

We started with some of the disadvantages of cash according to an article on the web. It is fair to say not everyone agreed wholeheartedly with this list and will not be giving up cash in the near future.

Then we talked about the Osko system now adopted by over 100 banks and financial institutions in Australia to allow funds to be passed from one bank account to another in near real-time, usually in less than one minute.

Finally we moved to PayID, the cherry on the top. PayID is used for instant, secure payments between bank accounts, and, being a phone number or email address is much easier to remember. For example if you are sitting in a restaurant sharing a meal with a communal bill, each person can pay the bill payer on their mobile at the table before leaving the restaurant.