Solid growth for Osko as it marks two years

  • By Christine St Anne

The payments service Osko has garnered solid growth in both volume and value of payment transactions as it celebrates two years in the market.

The day before Valentine’s Day in 2020 marked the second anniversary of Osko.

Osko has now processed a total of 304 million transactions with a total value of $312 billion in the two years since its launch. 

And the annual volume and value of Osko payments has increased by more than 300 per cent to 235 million annual transaction volume and $248 billion annual transaction value.

Weekly volume of payments more than tripled from 1.9 million to 6.4 million.

Importantly growth in awareness and consideration and usage of Osko is steadily growing

Source: BPAY

“More and more Australians and businesses are benefitting from Osko payments.”  BPAY Group general manager of product Keith Brown said.

“Osko has been in market for two years and over the last year, we’ve seen significant growth in Osko.”

Brown highlighted that 43 per cent of all Osko payments are now processed outside of Direct Entry hours, highlighting the 24/7 aspect of the service.

“Two-thirds of Australians are now aware of Osko and one-third have used Osko, which is a significant increase from the previous year and impressive for a service that has only been in market for two years.”