Understanding POLi’s Discontinuation in Australia
POLi Payments was an e-wallet service that allowed users to make secure payments from their bank account without the need for a credit card or bank transfer. It was originally known as Centricom and is based in Melbourne.
In December 2014, SecurePay Holdings, a subsidiary of Australia Post, acquired POLi. Through this acquisition, POLi was integrated with major Australian banks and was widely used for online purchases and other transactions.
In September 2023, it was announced that Australia Post would close the Australian arm of POLi and ceased operations. Since the three major Australian banks no longer support it, POLi cannot be used for deposits or withdrawals at Aussie casinos.
POLi’s Key Features
Here are the key features and benefits that made POLi appealing as a casino payment option:
- Secure Transactions: players could deposit money into their online casino accounts without requiring credit card or banking information.
- Connected with Aussie Banks: this allowed local players easy access to online casino payments.
- Instant Deposits: POLi Payments allowed players to deposit money instantly with no registration required.
Security of POLi Payments
Given its connection to Aussie banks, POLi employed the same bank-level security that players expect from their financial institutions. This ensured robust data protection and compliance with financial regulations. The security features were comparable to many other payment methods, like debit cards, with also offer security by encrypting sensitive information.