This avoids needing to manually input BPAY details, the bill's amount, and so on. Instead, the app integrates with the biller's system to fetch this information directly (with the users consent). Users don’t even need to input any of their bill's information.
SAVINGS ACCOUNT APP CODE
Once a customer receives their bill, they can scan the Payble QR code on their bill (if integrated) or select their biller from the list within the app (if not integrated), which will add the bill to their schedule. Payble allows customers to set up recurring payments with their providers quickly, simply, and easily. The ‘innovative’ app improves cash collections for merchants, lowers transaction costs, and “makes missed or late payments a thing of the past”.įunded by Commonwealth Bank, the app aims to empower Australians to pay their bills on time, and to prevent people in need of a helping hand from falling into the costly ‘trap’ of payday lenders - high-interest, short term lenders that Payble attributed to the ‘debt pandemic’ and stress faced by Australians today. Payble launched in October 2021, in partnership with over 200 of the largest billers on the platform (and more to be added each week). In doing so, they can preemptively access flexible payment options, like paying their bills in instalments or requesting a payment extension with their utility provider if required, to avoid billing stress. Users see all of their bills in the app and will receive ‘smart’ notifications, alerting them when their bills are due. Payble is a smartphone app which will help consumers manage their bills from their pocket. Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market. Additionally, utility disconnections are happening at an ‘ever-increasing' rate.Įnter Payble, the new fintech app which aims to combat ‘bill shock’ and reduce billing stress, helping consumers proactively coordinate and manage their bills. NAB’s Financial Stress Index recently showed an uptick of 4.6% for low income workers the ‘growing economic divide’ between low and high income workers is the biggest it has been since early 2020. Since the pandemic began, many people are struggling to stay on top of their bills. There’s nothing worse than a bunch of bills coming in all at once, leaving you to feel overwhelmed by ‘bill shock’. Why do all the most expensive bills seem to be due at the same time? If you struggle to keep on top of your bills, 'Payble' might be your white knight.