Online Payments

Last Updated: 31 October 2006


Can your customers pay you online? Most want to. Are you paying your suppliers and other bills online? Electronic payments can save you time and money.

You'd be surprised how many of your customers would appreciate the opportunity to pay you electronically at their own leisure. Think about it. I'd rather pay you in the comfort of my own lounge room with a glass of wine after the kids have gone to bed, instead of standing in line at the post office during my lunch break.

Electronic payments also have many benefits for YOU, and one of the main ones is saving you money. People sometimes under-estimate just how much they can save by making as many transactions as possible electronically. These savings come in the form of significantly lower bank fees, less money spent on cheques, envelopes, stamps, stationery, plus less time queueing in the bank.

Electronic payments are also very convenient. Many every day transactions can now be done through your bank's secure web site (of course, it depends who you bank with) and can even be automated so that bills and accounts are paid automatically on set dates.

So what are some of the ways you can pay and receive money online?



  • BPAY. This is one of the favourites for consumers, because it is very secure and convenient. People like the idea of only providing their bank details to their own bank. It's therefore no surprise that there are over 6.5 million people who are set up to use BPAY on the internet or telephone.

    However, BPAY isn't always cost effective for small businesses. There are fees involved, which mean that you often need to have a large number of regular payees before you will offset the costs of becoming a BPAY member. To find out whether its worth it for your business, start off at the BPAY web site at http://www.bpay.com.au, then talk to your bank.
  • Direct Deposit. Another easy way is to simply provide your account details to your debtors or customers so they can transfer money directly into your account. This option suits just about everybody, because the charges are so much lower when transferring money electronically. Again, most of the major banks have secure websites or other software that will allow their customers to transfer money to any account in Australia.
  • Online Credit Card facilities. There are a number of credit card verification services out there and the usual fee structure is either a percentage of the transaction amount or a small set fee per transaction. Confidence in using credit cards over the internet is growing so this option is becoming a must for businesses that want to offer more options to their customers for payment of accounts. Some people even prefer to pay by credit card because their cards are linked to "reward points" systems or other mortgage or savings accounts.

Click here for more information about saving on bank fees.


Contact us for more information on this topic.


Disclaimer: This page is designed to provide information only and is not a substitute for advice that is specific to your business. Before acting on any of the information above it is important you seek further advice from a professional who has taken into consideration the nature and circumstances of your business.

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