NPP

New Payments Platform

CashPSPFintechSchemeACCCCBDCPayToOnlineRegulationDigitalA2AReportingNPPGovernmentTap and PayAP+BECSOutagesPlatformChequeLCROpinionBlended pricingBanksAIScamsCryptoMerchant FeesTreasurerCybercrimeTransitIdentityAnalysisRBASurchargingcredit carddebit cardBank@PostInflationMobile WalletFinancial crimepre paid cardsATMStart-upsFraud
NPPNPP
+2+2
BECS decommissioning likely to be delayed ... at least
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BECS decommissioning likely to be delayed ... at least

The life of BECS is likely to be extended beyond 2030 as the payments industry works through multiple issues raised by the Reserve Bank of Australia’s recent risk assessment.

NPPNPP
+1+1
Payday super takes off with early processing and pilots on NPP
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Payday super takes off with early processing and pilots on NPP

Ozedi, SuperChoice and QuickSuper have started to process or pilot super payments across the New Payments Platform (NPP) with more companies to follow in the coming months, according to Australian payments Plus (AP+).

NPPNPP
+2+2
Super body says more time needed before switching to payday super
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Super body says more time needed before switching to payday super

The New Payments Platform (NPP) must be given time to mature before mandating the use of the system for payday super, the Gateway Network Governance Body (GNGB) has warned policymakers.

FintechFintech
+3+3
Pyng makes a ripple, but the Waave seems a long way off
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Pyng makes a ripple, but the Waave seems a long way off

Despite all the hype only one Australian Fintech - Pyng - appears to be making small inroads into real time point of sale (POS) retail payments in the Australian market, but it has a very long way to go to challenge the dominant card schemes.

NPPNPP
+3+3
Industry urged to consider the national interest with NPP migration
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Industry urged to consider the national interest with NPP migration

In Sydney this week, a packed room of Australian payments industry heavyweights was asked to pull together to ensure the New Payments Platform (NPP) delivers value for money and is in the national interest.

A2AA2A
+2+2
Azupay and Gr4vy partner on NPP eCommerce solutions
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Azupay and Gr4vy partner on NPP eCommerce solutions

Azupay has teamed up with US platform Gr4vy to help bring real-time, account-to-account payment solutions to Australian eCommerce businesses.

A2AA2A
+4+4
IPF urges immediate action to protect critical payments following damning BECS migration assessment
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IPF urges immediate action to protect critical payments following damning BECS migration assessment

The payments industry must take immediate steps to protect and regulate fees on critical payments like wages, superannuation, health, welfare and pensions that are being migrated from the aging Bulk Electronic Clearing System (BECS), according to a new report by Independent Payments Forum Australia (IPF).

FintechFintech
+3+3
Christian Westerlind Wigstrom - the new kid in town on the AusPayNet Board
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Christian Westerlind Wigstrom - the new kid in town on the AusPayNet Board

In a turbulent time for payments, Christian Westerlind Wigstrom, Co-founder and CEO of Monoova, has been appointed as alternate Director to the Australian Payments Network (AusPayNet), the self-regulatory body for Australia's payments industry.

A2AA2A
+3+3
RBA risk assessment slams insufficient industry coordination in BECS closure
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RBA risk assessment slams insufficient industry coordination in BECS closure

The Reserve Bank of Australia (RBA) today slammed the payments industry for lack of coordination over its proposed decommissioning of the 30-year-old Bulk Electronic Clearing System (BECS) which looks after critical account to account payments such as pensions, welfare, superannuation, payroll and bills.

A2AA2A
+2+2
NPP data is back, led by PayID growth
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NPP data is back, led by PayID growth

NPP is back, data quality has been resolved and we can see the progress of NPP once again.

Peter Drennan
NPPNPP
+2+2
RBA not happy with BECS migration - wants better data on risks and end user costs
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RBA not happy with BECS migration - wants better data on risks and end user costs

The Reserve Bank of Australia (RBA) has reiterated its concern about industry progress on decommissioning a platform that currently manages a range of Australia’s critical payments including social security, motor cars, salaries, pensions and bills.

NPPNPP
+3+3
AP+ ramps up urgency around NPP transition with industry-wide initiative
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AP+ ramps up urgency around NPP transition with industry-wide initiative

With the 2030 deadline for the BECS shutdown rapidly approaching, Australian Payments Plus (AP+) has established an industry-wide steering committee to provide oversight and governance in the transition to New Payments Platform (NPP).