The new C-POS channel will be developed to improve the payment process, including by alleviating the need for participants to pay upfront using their own funds, while also reducing administrative burdens for providers.
This new channel will not replace the way providers and participants make claims, but will be in addition to current claims channels.
CommBank Group Executive Business Banking, Mike Vacy-Lyle, said the partnership furthers CBA’s goal to deliver market leading payments solutions for all Australians.
“We welcome the opportunity to partner with the NDIA to build a best-in-class payment channel for NDIS participants, providers and communities,” Mr Vacy-Lyle said.
“The new payment channel intends to give participants better control over their NDIS plan while making claims quicker and accessible.”
CommBank Health CEO Albert Naffah said, importantly, the community will be consulted to improve accessibility and inclusion for people living with disabilities and their carers.
“Creating a more streamlined claims experience, payments using the new NDIS C-POS channel will be made simply and directly with participants no longer needing to pay up front using their own funds,” Mr Naffah said.
“The ability to submit claims and receive approval in near real-time should also benefit providers, leading to time and cost savings as a result of reduced manual processes, claim errors and delays.”
The new NDIS C-POS channel aims to provide a safe and secure solution that reduces potential for fraud while protecting privacy and enhancing transparency.
Today’s announcement builds on CBA’s innovation in health, following the launch of CommBank Smart Health earlier this year, a leading all-in-one health directory, payments and claims solution, delivering a better customer experience and payment journey for consumers, providers and payers.
CommBank also recently became the first major Australian bank to enable PayTo payments for CommBank customers and also completed a successful PayTo trial with two business customers, Telstra and The Shepherd Centre (a disability service provider for children with hearing loss).
Things you should know: Media releases are prepared purely for informational sharing purposes for use by Journalists, and are not intended to be commercial, promotional or marketing material relied upon by customers or other stakeholders. Media releases are written without considering an individual reader’s objectives, situation or needs. Readers should consider the appropriateness to their circumstances. This information does not take into account your objectives, financial situation or needs. Please view our CommBank Smart Health Terms and Conditions (PDF), Financial Services Guide (PDF). Fees, charges and eligibility criteria may apply.
The National Disability Insurance Agency (NDIA) is an independent statutory agency. Their role is to implement the National Disability Insurance Scheme (NDIS), which will support a better life for hundreds of thousands of Australians with a significant and permanent disability and their families and carers.
For more information on PayTo, visit: commbank.com.au/digital-banking/pay-to