POLi Payments ceased all Australian operations on 30 September 2023, leaving punters and merchants without one of the country's longest-running online bank-transfer services. Below is a full breakdown of what led to the shutdown, how it affects deposits at betting and casino sites, and which payment methods now fill the gap.
Compare each casino's offer, key facts and payment methods, then read the full review or visit the casino.
POLi Payments Pty Ltd, originally founded in Melbourne in 2006 under the name Centricom, offered an online payment system that let Australian and New Zealand consumers pay merchants directly from their internet-banking accounts without needing a credit card. The service was acquired by Australia Post's subsidiary SecurePay Holdings in December 2014, and from that point it operated as part of Australia Post's broader financial-services portfolio.
The mechanism was distinctive. When a customer chose POLi at a merchant's checkout, the system opened a secure session with the customer's bank, required entry of their internet-banking login credentials, and then used an automated process to create a pay-anyone transfer for the exact purchase amount. The merchant received an instant payment notification, even though the actual bank settlement followed standard clearing timelines. For online betting operators and casino sites, this meant near-instant deposit confirmations with no card details changing hands.
Major merchants included Jetstar, Virgin Australia, Air New Zealand, Sportsbet and Sportingbet, making POLi a prominent fixture in both travel bookings and online wagering.
The closure did not happen overnight. A series of escalating restrictions by Australian banks preceded Australia Post's final decision, and the timeline below captures the key milestones that led to POLi's exit from the Australian market.
| Date | Event | Significance |
|---|---|---|
| 2006 | Centricom (later POLi) launches in Australia | One of the country's first fintechs offering real-time online bank transfers |
| December 2014 | Australia Post acquires POLi via SecurePay Holdings | Government-owned entity takes full ownership of the platform |
| 2018 | Banks begin embedding PayID and New Payments Platform services | A competing real-time transfer rail emerges within the banking system itself |
| 2022 | Two major banks stop accepting POLi transactions; POLi launches its own PayID solution | Credential-sharing model becomes untenable as bank support narrows |
| Mid-July 2023 | A third major bank blocks POLi; Commonwealth Bank updates security systems | CBA customers lose access to some POLi services by end of July 2023 |
| 13 July 2023 | Australia Post announces closure of POLi's Australian operations | Merchants given roughly eleven weeks' notice |
| 30 September 2023 | POLi ceases all Australian transactions | Domestic service permanently discontinued |
From announcement to shutdown, merchants had less than three months to migrate their checkout integrations. POLi stopped accepting new merchant applications immediately and referred prospective customers to alternative providers such as Azupay, Monoova and Zepto.
Australia Post described the closure as the result of a strategic business review, but the underlying pressures had been building for years. Three interrelated factors made POLi's operating model unsustainable in the evolving Australian payments landscape.
POLi's core mechanism required customers to enter their internet-banking username and password into a third-party interface. This approach ran directly counter to every major Australian bank's terms and conditions, which explicitly warned customers not to share online-banking credentials with any external service. Banks argued that using POLi could void fraud-protection guarantees and expose customers to identity theft. Several banks issued public warnings, and by 2022 at least two of the Big Four had updated their security systems to block POLi transactions outright. When a third major bank followed suit in mid-2023, the service's reach contracted to the point where it could no longer reliably process payments for most Australian bank-account holders.
POLi transactions also lacked the chargeback protections available on card payments. Once a transfer was initiated, it could not be reversed through the banking system. Consumer advocates highlighted this gap, particularly for gambling deposits, because customers who experienced unauthorised transactions had limited recourse compared with card-based or wallet-based alternatives.
The launch of Australia's New Payments Platform in 2018 introduced PayID, a real-time transfer system that allowed consumers to send money using a mobile number or email rather than a BSB and account number. PayID achieved the same near-instant result POLi offered but without credential sharing. By 2023, PayID had accumulated more than eleven million registrations, and the combination of institutional support and built-in security made it a natural successor that progressively eroded POLi's relevance.
Licensed bookmakers such as Sportsbet and Sportingbet had integrated POLi as a primary deposit option for years, because it allowed punters to fund accounts directly from a bank without needing a credit card. For many recreational bettors, POLi was the path of least resistance: no card application, no e-wallet registration, just a familiar bank-login screen and an instant deposit confirmation.
The shutdown forced every operator that relied on POLi to diversify its deposit menu. Some had already begun migrating to PayID in anticipation of the closure, but others were caught off guard by the compressed timeline. The transition created temporary friction for customers accustomed to POLi's automated checkout flow.
Offshore casino sites were also affected. POLi had been used by some players to deposit at unlicensed platforms, a practice that drew scrutiny as early as 2016 when reports highlighted Australia Post's indirect facilitation of payments to offshore gambling operations. The shutdown removed one channel for these transactions, though customers migrated to cryptocurrency, prepaid vouchers and other methods.
The end of POLi accelerated the adoption of several competing deposit methods across Australian betting and casino sites. Each alternative carries its own characteristics in terms of speed, security, cost and convenience, and the right choice depends on individual preferences and the specific operator's supported methods.
PayID has emerged as the closest functional replacement for POLi. It uses the New Payments Platform to settle transfers in near-real time, typically within seconds, and does not require credential sharing. The punter initiates a transfer from their own banking app to a PayID linked to the operator's receiving account. Most major licensed bookmakers now support PayID deposits without fees. The main limitation is that PayID is a push payment, meaning the customer must manually enter the amount and recipient.
Traditional bank transfers remain a universal deposit option. The customer sends funds via their bank's pay-anyone function using the operator's BSB and account number. Settlement times range from a few minutes on the NPP to one or two business days on the older Bulk Electronic Clearing System, depending on the sending bank.
Visa and Mastercard remain the most widely accepted deposit methods at Australian betting sites. Deposits are typically instant, and chargeback rights provide consumer protection POLi lacked. Australian regulations introduced in 2020 prohibit credit-card gambling deposits at licensed operators, so only debit cards function in this context.
Apple Pay, Google Pay and similar wallets tokenise the underlying card details, adding a security layer, and enable tap-to-pay convenience on mobile devices. The underlying funding source is still a debit card, so the credit-card prohibition applies.
Neosurf and Paysafecard allow punters to purchase a prepaid voucher at a retail outlet or online and redeem it as a deposit. Vouchers typically carry no transaction fees at the point of deposit, although the purchase may include a small retail margin. The trade-off is that vouchers cannot be used for withdrawals, requiring a separate bank-transfer channel.
The following table offers a side-by-side view of the main deposit methods that have replaced POLi at Australian betting and casino sites. Processing times and fee structures can vary between operators, so the figures below represent general market conditions rather than any single operator's terms.
| Method | Typical Deposit Speed | Credential Sharing Required | Deposit Fees | Withdrawal Support |
|---|---|---|---|---|
| PayID | Seconds to minutes | No | Generally free | Yes (via bank transfer) |
| Bank Transfer (BSB) | Minutes to 1–2 business days | No | Generally free | Yes |
| Debit Card (Visa/Mastercard) | Instant | No (card details only) | Free at most operators | Yes (some operators) |
| Apple Pay / Google Pay | Instant | No (tokenised) | Free at most operators | No (withdraw via linked card) |
| Neosurf / Paysafecard | Instant | No | Free at deposit; retail margin on purchase | No |
POLi's departure marks the end of the credential-sharing model for online payments in Australia. The approach, sometimes called screen-scraping, was a workaround born in an era when real-time interbank transfers did not exist. As the banking system matured and introduced native real-time rails, the security trade-offs became harder to justify.
The Consumer Data Right framework, which governs open banking, now establishes a consent-based mechanism for third-party access to banking data. Unlike POLi's model, CDR requires explicit, revocable customer consent and does not involve handing over login credentials. As open-banking-initiated payments evolve, they may recreate the seamless checkout experience POLi provided, but with regulatory guardrails protecting both consumers and institutions.
For the wagering industry, the shift has pushed operators toward a more diversified payments stack. Most licensed bookmakers now offer four or more deposit channels, reducing the risk that any single provider's closure can disrupt the customer experience.
Because PayID is the most direct successor to POLi for bank-based deposits, a closer look at the differences is useful for punters who relied on POLi and need to adapt their deposit habits.
| Feature | POLi (Discontinued) | PayID (Current) |
|---|---|---|
| Owned by | Australia Post (SecurePay Holdings) | NPP Australia (industry utility) |
| How it connects to your bank | Logs into your internet banking via automated session | You send a transfer from your banking app to a registered PayID |
| Credential sharing | Yes — username and password entered into POLi interface | No — transfer initiated within your own banking environment |
| Settlement speed | Merchant notified instantly; bank settlement via standard clearing | Real-time settlement via the New Payments Platform |
| Chargeback or reversal | Not available | Not available (push payment; contact bank for disputes) |
| Bank support | Progressively blocked by major banks from 2022 | Supported by all major Australian banks and most smaller ADIs |
| Registration required | No customer registration | No separate registration; PayID linked via your banking app |
The most significant practical difference is the direction of the transaction. POLi pulled funds via an automated login, while PayID requires the customer to push funds from their own banking app. This transfers control to the customer and eliminates third-party credential access. The deposit experience is slightly less automated but materially safer.
Many Australian betting affiliate and comparison sites maintained dedicated POLi deposit-guide pages that ranked well for related search terms. The shutdown rendered much of this content obsolete, and site operators have had to decide whether to redirect those pages, update them to cover alternatives, or retain them as informational resources.
For punters arriving at these pages today, the practical takeaway is straightforward: POLi is no longer available at any Australian betting or casino site. Any operator still listing POLi as an active deposit method has not updated its payments page. The transition to PayID and other methods is complete across all major licensed operators.
POLi functioned only as a deposit method. Withdrawals always required a separate channel, typically a bank transfer using BSB and account number. Even during POLi's operating years, punters needed a withdrawal path alongside their POLi deposit method.
With POLi gone, the deposit side has converged with the withdrawal side. PayID and bank transfers now serve both directions at most licensed operators. A punter who deposits via PayID can often withdraw to the same bank account, creating a unified funding loop that POLi never offered. Debit-card deposits can also pair with card withdrawals, although card-withdrawal processing typically takes two to five business days.
Withdrawal verification requirements remain unchanged. Australian licensed operators are subject to anti-money-laundering and know-your-customer obligations, requiring identity verification before processing a first withdrawal. This involves submitting photographic identification and proof of address, regardless of the original deposit method.
When POLi launched in 2006, internet banking was relatively new, real-time payment alternatives did not exist, and consumers were more willing to share credentials with a service backed by Australia Post's brand. Over time, phishing attacks became more sophisticated, data breaches eroded public trust in credential sharing, and banks invested heavily in multi-factor authentication designed to keep login details within the banking environment.
Even though POLi argued its system was secure and that credentials were not stored, the optics of entering bank-login details into a non-bank interface became increasingly difficult to defend. The lesson for punters evaluating any payment method is to consider whether it requires sharing banking credentials. Methods that keep authentication within the banking environment, such as PayID, card tokenisation and digital wallets, align more closely with contemporary security standards.
The post-POLi payments landscape in Australia continues to evolve. Several developments on the horizon could shape how punters fund their betting accounts in coming years.
Open-banking-initiated payments, built on the Consumer Data Right framework, represent the next generation of bank-to-merchant transfers. CDR-based payments use secure APIs with explicit customer consent, potentially recreating the seamless checkout experience without security compromises. Providers such as Azupay and Zepto are developing products in this space, and both were recommended by POLi itself during the shutdown transition.
PayTo, a mandate-based system built on the NPP, is designed to modernise direct-debit arrangements. The Reserve Bank of Australia has noted that PayTo has not yet demonstrated full maturity for widespread adoption, but it has the potential to support recurring deposit arrangements if operators implement it.
The older Bulk Electronic Clearing System still carries the majority of Australia's payroll and bill-payment volume. AusPayNet withdrew the planned June 2030 retirement date in December 2025, meaning BECS has no current end-of-life date and will continue functioning alongside the NPP. For betting-site withdrawals processed as batch transfers, this provides continuity.
For anyone who previously relied on POLi for betting deposits, the transition to alternative methods is straightforward. The following steps cover the essentials of setting up and using the most common replacements.
POLi Payments served the Australian market for seventeen years, from its 2006 launch as Centricom through to its closure on 30 September 2023. The service filled a genuine gap by enabling real-time bank transfers when no native interbank alternative existed. Its credential-sharing model, however, placed it on a collision course with evolving bank security policies, and the progressive withdrawal of support by major banks made closure inevitable.
For Australian punters, the practical impact has been manageable. PayID, bank transfers, debit cards, digital wallets and prepaid vouchers collectively offer faster, safer and more widely supported deposit options than POLi provided in its final years. The resulting payments ecosystem is more resilient, more secure and better aligned with modern banking standards.
