New Payments Platform

• John Kavanagh

A priority for the payments industry in 2024 will be getting started on the transition of all domestic direct entry electronic payments from the Bulk Electronic Clearing System to the New Payments Pla.. read more

• George Lekakis

Australian Payments Plus has revealed its debit payments processing subsidiary – Eftpos - is reclaiming market share from global giants Visa and Mastercard. read more

• Ian Rogers

Following ongoing volume growth of the NPP and the addition of new services such as PayTo, Australian Payments Plus is proposing significant changes to the NPP’s wholesale pricing arrangements. read more

• George Lekakis

Australia Post is preparing to shut down the Australian operations of its online payments service, POLi Payments. read more

• John Kavanagh

A move to phase out the Bulk Electronic Clearing System and move all domestic direct entry electronic payments to the New Payments Platform is at the heart of a plan announced by Treasurer Jim Chalmer.. read more

• John Kavanagh

Woolworths’ payments division Wpay has commissioned payments services company Zepto to work with it on the development of a PayTo service. read more

• John Kavanagh

NAB has missed the Reserve Bank’s deadline for offering the PayTo service to its customers and only 53 organisations are live with the service almost a year after it was launched. read more

• John Kavanagh

American Express has partnered with Cuscal to launch a PayID service for its card customers to pay their bills, promising to make payments quicker and more secure. read more

• John Kavanagh

Pay advance company WagePay has switched on the mandate payment service PayTo for customer payments, making it one of the first to offer the NPP add-on service to consumers. read more

The value of payments made using NPP Australia’s Osko service grew by more than 20 per cent last year and hit a monthly value of A$100 billion in December. read more

• John Kavanagh

Reserve Bank governor Philip Lowe took banks and other financial institutions to task yesterday for their tardiness in making services available that are designed to enhance competition, improve funct.. read more

• John Kavanagh

Take-up of NPP Australia’s PayID service has accelerated, with a 44 per cent increase in the number of registered PayIDs over the past 12 months. read more

• rogers, Ian Rogers

The RBA is wearing the blame for an industry-wide NPP/Osko outage overnight. read more

• John Kavanagh

Participation in the PayTo payments service is picking up, with a dozen authorised deposit-taking institutions and payments service providers authorised to offer PayTo services this week. read more

• John Kavanagh

Acceptance of cash at the point of sale is starting to decline, as merchants respond to the steady long-term decline in the use of cash for retail payments, which accelerated during the pandemic. read more

• John Kavanagh

Commonwealth Bank has completed the first phase of a trial of PayTo, a new service that allows a payer to authorise third parties to make payments on their behalf. read more

• George Lekakis

Payments industry aspirant Azupay has secured a financial services licence from ASIC as it continues to refine its business model ahead of the major banks connecting to the New Payments Platform’s Pay.. read more

• John Kavanagh

PayID is proving its worth as a fraud prevention mechanism, according to payment data released by new payments platform operator NPP Australia. read more

• John Kavanagh

Australia’s latest real-time payments service, PayTo, is up and running today with six banks ready to start enabling customer accounts and five payment service providers offering merchants access. read more

• George Lekakis

A Cuscal payments technology expert yesterday delivered a fierce critique of the New Payment Platform’s PayTo service, arguing that trhe NPP's preoccupation with real time settlement is set to “compli.. read more