Clarifying the Discontinuation of POLi in Australia
POLi Payments was a digital wallet service that let users transfer funds directly from their bank account without resorting to credit cards or bank transfers. Originally named Centricom, it was a Melbourne-based innovation.
In December 2014, POLi was acquired by SecurePay Holdings, a division of Australia Post. This integration allowed POLi to connect seamlessly with top Australian banks, becoming a widely utilized service for online shopping and other transactions.
In September 2023, Australia Post announced the closure of POLi's Australian sector, ending its services. Without support from the major Australian banks, POLi stopped being a viable option for deposits or withdrawals in Australian casinos.
POLi’s Key Features
Here are some standout traits and benefits that made POLi an attractive choice for casino enthusiasts:
- Protected Transactions: Users could fund their online casino accounts securely without disclosing credit card or bank information.
- With Connections to Major Australian Banks: This provided local players straightforward access to online casino payments.
- Immediate Deposits: POLi Payments enabled players to instantly deposit funds without needing to sign up.
Security of POLi Payments
Leveraging connections with Australian banks, POLi offered security at the same level as one's financial institution would provide. Its robust data protection ensured compliance with financial regulations, akin to many other methods like debit cards, which guarantee security by encrypting sensitive data.