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Defence Bank steals the march on new payment methods

Remaining relevant to a Membership comprised of active service personnel,  reservists from the Army, Navy and Air Force and the wider Defence Community  is a key obsession of Defence Bank’s new Chief Executive Officer (CEO) David Marshall.  

The recent introduction of PayID and Osko payment services ensures Defence Bank continues to provide its Members with cutting edge payment options that make everyday banking simpler, easier and faster.   

The new PayID and Osko payment services that allow real time payments when sending and receiving money from bank accounts , are in addition to the Apple, Android and Samsung Pay options already available to Defence Bank Members. 

‘The active and varied nature of Defence life means that quite often access to a branch is not always possible so we need to ensure that our Members are empowered to do their banking when and where ever they wish with ease. Offering Members services like PayID, Osko, and Apple, Android and Samsung Pay for example are just another way we guarantee our ongoing relevance,” said David Marshall.

“We are very aware that we cannot be complacent with our unique membership so the starting point of all our product and service initiatives is to always walk in our Members footseps. We are relentless in our desire to remain relevant to our unique membership,” said David Marshall. 

“Offering a full suite of convenient payment options highlights the organisations focus on providing what our Members actually need to make their everyday banking easier,” said David Marshall of Defence Bank.

It is worth noting that in contrast to the major Banks, only one major bank out of four are offering the complete suite of Pay wallet options (KPMG Mutuals Report Nov 2017). Additionally only one major bank fully adopted PayID and Osko at launch with the other major banks opting to progressively roll it out to smaller segments and sub-brands in the coming months. Has Defence Bank stolen the march on its bigger bank rivals?

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