The New Payments Platform (NPP) is a major industry initiative to develop new infrastructure for Australian payments. It provides consumers, businesses and government with faster, simpler, smarter payments.
Indue is shaping the new face of Australian payments through being only 1 of 13 founding members of the NPP initiative, demonstrating the industry’s trust in our payments experience to deliver.
NPP provides an industry tested, payments ready solution encompassing the network, switching and addressing infrastructure to enable the exchange of payments between directly connected participants.
> Money can be sent and received in less than a minute
> Full transaction record is updated
> PayID is an easier alternative to BSB + Account number
> BSB & Account number still remains an option
> Drive new digital payment experiences across industries to maximise new revenue opportunities
> 24 x 7 x 365 availability
> 280 characters to help explain the payment
> Optimised for digital channels
> Immediate payment certainty – you’ll know straight away when you’ve received a payment
> Funds are irrevocable
Gives the ability to send full invoice information and receive full remittance information back from the payer with payment.
Improved cash flow through the receipt of real time irrevocable payments using a phone number as your identifier for incoming payments.
Enjoy better cash flow management and more efficient reconciliation processes such as straight-through processing.
Integration of NPP into your digital experience, creating work flows with real time payments seamlessly embedded.
The Government will be able to capitalise on the NPP, with immediate support payments for hardship or disaster, emergency welfare assistance payments, or the coordination of health benefit payments being made available immediately and with rich data included in the transaction flow.
With faster payments can come the increased risk of faster fraud. When you partner with Indue, we work with you to integrate our market leading Financial Crimes solution. Orion works to mitigate the risk of real-time fraud. As payments will be transacting faster, the technology required to identify irregular activity must now be far more responsive.
Powered by IBM Safer Payments Platform, the Orion Financial Crimes solution integrates artificial intelligence and machine learning algorithms to deliver a 24x7x365 Australian based fraud monitoring bureau.
Indue is strongly placed to protect what’s important in your business. Click here to find out more.
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