The New Payments Platform (NPP) has been recognised at the New South Wales 2018 State iAwards – one of Australia’s premier technology awards platform. Receiving the award for Business Service Markets and a Merit Certificate for Infrastructure & Platforms Innovation of the Year, NPP Australia’s General Manager of Technology and Operations, Bob Masina, said it was a fitting acknowledgement to the hundreds of people within the industry who have collaborated like never before to make the NPP a reality.
“On receiving this award we must acknowledge so many players that worked tirelessly to make the NPP possible. The 13 founding financial institutions, SWIFT who developed the world leading infrastructure, and BPAY who developed and launched the first service that uses the platform – Osko. “We have an exciting year ahead as we expand the Platform’s reach to more banks, building societies and credit unions, as well as the various innovators developing new customer experiences that will really bring the NPP’s capabilities to life,” he said.
The NPP launched in February 2018 after extensive industry collaboration. Since then nearly 65 financial institutions have commenced rolling out NPP-enabled services to their customers. More than 1.6 million PayIDs have been created, and the first overlay service launched from the Platform – Osko by BPAY – has recorded more than 10 million payments, worth $6.5b.