The New Payments Platform or NPP has been developed to significantly improve the speed and convenience of making and receiving payments between participating Australian banks.
- Optimise your working capital: Make or receive payments in real-time, 24/7, request instant payment of late bills (future feature), and reduce the number of exceptions due to enhanced data and smart addressing
- Improve your customers’ experience: Your customers can make and receive payments, linked to your transaction account, with confidence and security, enabling faster fulfilment of services or products
- Increase operational efficiencies: Integrate your accounting or business management software with NPP to enable end-to-end, real-time payment and reconciliation, saving you time and money by eliminating manual intervention
- Receive richer payment information: With up to 1,400 data fields available, including 280 characters of free text, more information can be embedded into payment messages; in future you'll be able to send a document like a remittance, with your payment or with a payment request, like a tax invoice
We’ll be rolling out NPP functionality throughout 2018 to support out business and institutional customers.