Amaysim was founded as an Australian telecommunications provider by Peter O'Connell, Rolf Hansen, Christian Magel, Thomas Enge and Andreas Perreiter in November 2010.

[5] In January 2016, Amaysim acquired Vaya, another Australian mobile virtual network operator for A$70 million.

In March 2019, the Federal Court of Australia ordered penalties of $900,000 for misleading claims, because discounts were calculated on their market offer rates which were higher than their standing offer rates available to all consumers, while savings were calculated based on estimated savings if they paid on time rather than if they switched to Click Energy.

[20] In addition, Click Energy was ordered to send each affected customer a notice correcting the misleading claims.

[21] In January 2020, Amaysim published an advertisement on Twitter that included the statement "…your mother loves the Unlimited Mobile Data offer from amaysim’ and the hashtag ‘#UnlimitedMobileData" when its plan provided unlimited data only for the first three renewals, before reverting to a capped amount.