POLi Payments

POLi Payments Pty Ltd, formerly known as Centricom, was an Australian online-payments company based in Melbourne. Its principal product was POLi, a payment method that allowed customers to pay merchants directly from an internet-banking account without entering card details or registering for a separate POLi account. The service connected a merchant checkout with the customer's online-banking session and provided the merchant with confirmation of the payment, making it particularly useful for transactions requiring relatively immediate settlement. POLi was offered primarily in Australia and New Zealand and was adopted by a range of travel, retail, wagering and other merchants. Reported major users included Jetstar, Virgin Australia, Air New Zealand, Sportsbet and Sportingbet. Its value proposition was built around using existing bank accounts rather than credit cards: customers could authorize a payment through their bank, while merchants received an immediate receipt or confirmation. This positioned POLi as an alternative to card payments and, in some cases, as a way to serve customers who did not hold or did not wish to use a credit card. The service evolved through several technical generations. The first version used an ActiveX control and was later abandoned. Version 2 used a Microsoft .NET ClickOnce application and remained in operation for some New Zealand banks. POLi Version 3, released in July 2012, expanded compatibility to Mac computers and mobile devices, which earlier versions did not support. The system's technical model involved an automated virtual machine interacting with the user's online-banking interface to initiate a direct debit or bank payment using credentials supplied during the transaction. That model also became the central source of controversy. Banks and security commentators objected to users entering online-banking credentials into a third-party payment flow and questioned how responsibility would be allocated if an account were compromised. Critics also pointed to the security and compatibility implications of downloadable software used by earlier versions. Several banks warned customers not to use POLi, while some stated that using the service could affect the protection provided by their online-banking guarantees. POLi disputed aspects of those warnings, but the disagreements contributed to a sustained negative security profile around the brand. POLi was also criticized because payments generally lacked the chargeback protections associated with major credit and debit cards and could not necessarily be reversed through the banking system. That created potential difficulties for customers seeking refunds when a merchant failed to provide a service, including in situations involving cancelled travel or event bookings. The service was further associated in public criticism with payment flows that could facilitate illegal gambling, reflecting the presence of wagering businesses among its merchants. In December 2014, POLi Payments was acquired by SecurePay Holdings, which was wholly owned by Australia Post. Australia Post later announced in July 2023 that the Australian arm of POLi Payments would close at the end of September 2023. The available reference material does not establish whether all POLi operations, particularly services in New Zealand, ended at the same time. Accordingly, the current status of the overall brand is left uncertain rather than being classified definitively as active or defunct.

POLi Payments Pty Ltd operated an online-payments service in Australia and New Zealand under the POLi brand. The company was previously known as Centricom. Its service addressed a specific gap in online commerce by allowing a customer to pay from an existing internet-banking account rather than using a credit card. A customer selected POLi at a participating merchant, entered the relevant banking information within the payment process and authorized the transaction through an online-banking interface. The merchant then received a payment receipt or confirmation. The product developed through multiple technical versions. POLi Version 1 relied on an ActiveX control, a technology that attracted security criticism and was eventually discontinued. From 2008, the system operated on Microsoft's .NET technology platform. Version 2 used a .NET Framework ClickOnce application. Although this approach supported the service at some New Zealand banks, it created a less convenient customer experience because users had to download software and, depending on their browser, install additional components. Version 3 was released in July 2012 and added support for Mac computers and mobile devices. POLi's technical architecture was controversial because it used an automated virtual machine to interact with a user's online-banking interface and initiate the payment. Security analysts and banks questioned the practice of providing banking credentials to a third-party payment service. ASB Bank described the service as mirroring or spoofing online-banking pages and advised customers against using it, citing security and fraud concerns. POLi rejected those allegations and reportedly reverted aspects of its implementation following the dispute. Other banks in Australia and New Zealand also issued warnings. ANZ New Zealand and Kiwibank stated that use of POLi could affect the coverage of their online-banking guarantees, potentially leaving customers responsible for losses arising from a compromised account. The controversy extended beyond credential security. Unlike card transactions, POLi payments did not generally provide the same bank reversal or chargeback mechanisms. Customers could therefore face difficulty obtaining reimbursement when a purchased service was not delivered. This issue was particularly relevant to online travel and ticketing transactions. Despite the warnings, major merchants including Air New Zealand continued to offer POLi. The service was also criticized in connection with gambling payments, with concerns that it could facilitate transactions related to illegal wagering. In December 2014, SecurePay Holdings acquired POLi Payments. SecurePay Holdings was a wholly owned subsidiary of Australia Post, bringing the payment brand into Australia Post's corporate group. The product continued to be associated with merchants in travel, wagering and other online sectors. In July 2023, Australia Post announced the closure of the Australian arm of POLi Payments at the end of September 2023. The supplied reference does not conclusively state whether New Zealand services ended with the Australian closure, so the brand's complete present-day status cannot be determined from the available material.

• 2023

  Australian operation scheduled to close

  [1]POLi Paymentsen.wikipedia.org

  Australia Post announced that the Australian arm would shut down at the end of September.

• 2014

  Acquisition by SecurePay Holdings

  [1]POLi Paymentsen.wikipedia.org

  SecurePay Holdings, an Australia Post subsidiary, acquired POLi Payments in December.

• 2012

  POLi Version 3 released

  [1]POLi Paymentsen.wikipedia.org

  Version 3 launched in July and added support for Mac computers and mobile devices.

• 2008

  POLi moves to the .NET technology platform

  [1]POLi Paymentsen.wikipedia.org

  The service began operating on Microsoft's .NET technology platform, replacing its earlier ActiveX-based approach.

A card-free online payment method that lets customers pay merchants through their existing internet-banking accounts, emphasizing convenience, immediate merchant confirmation and access for customers who do not use credit cards.

• Online payment system

  POLi

  POLi was an online payment method connecting a merchant checkout to a customer's internet-banking account. It enabled payment without a credit card or separate customer registration and supplied the merchant with an immediate receipt or payment confirmation. Different generations used ActiveX, .NET ClickOnce and later technology supporting Mac and mobile devices. The service was offered in Australia and New Zealand and was used by merchants in travel, retail and wagering.

• Bank and security criticism over credential handling

  Banks and security commentators criticized POLi's practice of operating through users' online-banking sessions and questioned the risks of entering banking credentials into a third-party payment flow. ASB and several Australian and New Zealand banks advised customers not to use the service; some also warned that online-banking guarantees might not apply.

  Source

• Concerns over irreversible payments and gambling use

  POLi faced criticism because its payments generally lacked card-style chargeback protections and because the service was associated with payment activity that could facilitate illegal gambling.

  Source

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• 2023

  Closure of the Australian armStrategy

  Background

  Australia Post owned the POLi operation following its acquisition through SecurePay Holdings.

  Action taken

  Australia Post announced in July that the Australian arm of POLi Payments would close at the end of September.

  Aftermath

  The future of any remaining New Zealand operations is not established by the available reference material.

  Source

• 2014

  Acquisition by SecurePay HoldingsM&A

  Background

  POLi Payments operated as an online-payments company serving merchants and customers in Australia and New Zealand.

  Action taken

  SecurePay Holdings acquired POLi Payments in December. SecurePay was wholly owned by Australia Post.

  Aftermath

  POLi became part of the Australia Post corporate group.

  Source

• 2012

  Launch of POLi Version 3Generation change

  Background

  Earlier POLi versions had limited platform compatibility and relied on technologies that attracted usability and security criticism.

  Action taken

  POLi released Version 3 with support for Mac computers and mobile devices.

  Aftermath

  The expanded platform coverage broadened the service's technical reach, although concerns about credential handling and third-party access to online banking continued.

  Source

1. 1POLi Paymentsen.wikipedia.org