Frequently Asked Questions
What can the New Payments Platform do?
Key benefits include:
| Speed | the ability to make payments in real time, with close to immediate funds available 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. |
| Simple Addressing | 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.