New Payments Platform: Difference between revisions
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In 2015 a contract was signed with [[SWIFT]] to design, build and operate the platform.<ref>[http://www.apca.com.au/about-payments/future-of-payments/new-payments-platform-phases-3-4 NPP Phases 3 and 4]. Retrieved 30 October 2015</ref> |
In 2015 a contract was signed with [[SWIFT]] to design, build and operate the platform.<ref>[http://www.apca.com.au/about-payments/future-of-payments/new-payments-platform-phases-3-4 NPP Phases 3 and 4]. Retrieved 30 October 2015</ref> |
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The NPP was first made accessible to the general public on the February 13, 2018 with the launch of PayID, a simple addressing capability, and Osko<ref>{{Cite web|url=https://www.osko.com.au/|title=Osko by BPAY|website=www.osko.com.au|access-date=2017-11-03}}</ref>, the first NPP Overlay Service, operated by [[BPAY]]. |
The NPP was first made accessible to the general public on the February 13, 2018 with the launch of PayID, a simple addressing capability, and Osko<ref>{{Cite web|url=https://www.osko.com.au/|title=Osko by BPAY|website=www.osko.com.au|access-date=2017-11-03}}</ref>, the first NPP Overlay Service, operated by [[BPAY]]. |
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== PayID == |
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PayID is an optional addressing scheme that is used in place of the existing BSB and account number addressing. Currently phone numbers, email addresses, and [[Australian Business Number|ABNs]] can be used. The BSB and account number addressing scheme will continue to be used in parallel. |
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== References == |
== References == |
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Revision as of 11:38, 13 February 2018
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| Founded | 2013 |
|---|---|
| Headquarters | Australia |
| Website | www |
The New Payments Platform (NPP) is an industry-wide payments platform for Australia currently in development. It was announced in July 2013 by APCA.[1] The new platform for real-time low value payments was in response to the Reserve Bank of Australia's Payment System Board’s Conclusions to the Strategic Review of the Innovation in Payments System publication.[2] The New Payments Platform is new national infrastructure for fast, flexible, data rich payments in Australia. In December 2014, the Program proceeded to the third phase, "design, build and test". In 2015 a contract was signed with SWIFT to design, build and operate the platform.[3] The NPP was first made accessible to the general public on the February 13, 2018 with the launch of PayID, a simple addressing capability, and Osko[4], the first NPP Overlay Service, operated by BPAY.
PayID
PayID is an optional addressing scheme that is used in place of the existing BSB and account number addressing. Currently phone numbers, email addresses, and ABNs can be used. The BSB and account number addressing scheme will continue to be used in parallel.
References
- ^ Industry wide program to develop the New Payments Platform gets underway. Retrieved 8 July 2013.
- ^ Strategic Review Report
- ^ NPP Phases 3 and 4. Retrieved 30 October 2015
- ^ "Osko by BPAY". www.osko.com.au. Retrieved 2017-11-03.