FAQs New Payment Platform (NPP)
What can the New Payments Platform do?
Key benefits include:
|Speed||the ability to make payments in real time, with close to immediate funds availability to the recipient.|
|24/7 availability||the ability to make and receive low-value payments 24/7 outside normal banking hours.|
|Data enriched||the ability to send more complete remittance information with payments.|
A system to more easily address retail payments to any recipient using their phone number, email address, ABN or organisational identifier.
Additional features will become available overtime with the development of new overlay services.