Bank of us Chief Executive Paul Ranson

A NEW mobile banking system heralds a new level of payment convenience for Tasmanians, Tasmanian banking institutions say.

Bank of us and MyState have adopted New Payments Platform, which provides consumers and businesses the ability to:

• transfer money instantly between accounts at different financial institutions;

• make these payments any time of day, and day of the year;

• include more accompanying information with these payments than ever before; and

• use PayID, a simpler way to pay that lets you see the name of the person or business you are paying before sending.

MyState Limited General Manager Banking, Sales and Service Kate Dean said the platform was set to change the way we do our banking and would make sending payments to family, friends or businesses faster, simpler and smarter.

Bank of us Chief Executive Officer Paul Ranson said it was an historic development.

“The introduction of the NPP marks a momentous change in the way that payments can be made,” he said.

“Customers will no longer need to remember difficult account numbers, but only a PayID like a mobile number, email address or even an ABN.”