The New Payments Platform is quite possibly the most significant change to Australian payments many of us will see in our lifetime, designed to deliver a new payments infrastructure to support Australia’s fast growing 24/7 digital economy. Today more than 60 banks, credit unions and building societies commenced rolling out real-time data-enhanced payment services to their customers.
Indue is playing a pivotal role in reshaping the face of Australian payments by being one of only 13 founding members of the NPP initiative demonstrating the industry’s trust in our experience to deliver on this exciting new platform. Read more about what New Payments Platform means for Australia
NPP will provide consumers, businesses and government with a real-time, flexible, data-rich payment system to transform the way we pay. Our expectation is that NPP will be quickly adopted by consumers, as witnessed globally in such markets as the UK, Denmark, China and South Africa.
Now live, the NPP will provide an industry tested, payments ready solution encompassing the network, switching and addressing infrastructure to enable the exchange of payments between the directly connected participants.
Derek Weatherley, CEO, Indue Ltd commented, “We are experiencing the most significant change to the payments landscape many of us will see in our lifetimes and one of which we will forever be a part. Congratulations to everyone involved in bringing the NPP to life.”
Indue welcomes the opportunity to explore NPP innovation with businesses and government to drive industry adoption across Australia.