Today’s economy moves fast. We all need payments that can keep up. In Australia, the NPP is revolutionising the way we make payments today – and creating opportunities for tomorrow.
The NPP is Australia’s fast payments infrastructure, bringing certainty and efficiency to payments – and setting Australia up for the digital future.
Launched in 2018, the NPP connects over 100 banks, financial institutions and fintechs, facilitating around $5 billion of payments each day, with money quickly and securely between bank accounts using Osko, PayID and PayTo.
Payments between bank accounts in Australia are moving to this fast, secure and efficient payments system.
The move to the NPP is a once-in-a-generation opportunity to revolutionise the flow of money, bringing certainty and efficiency to business payments and paving the way for Australia’s payments future.
Make and receive payments 24/7 – including weekends and public holidays
Streamlined payment processes save businesses time and money
Unlock more efficient use of working capital with real-time visibility of cash positions
Real-time information provides clear visibility on incoming payments and certainty on payments out
Delight customers with better experiences made possible by fast, information-rich payments
Safeguard payments with advanced addressing and account validation
Since its launch in 2018, NPP payment volumes have steadily grown.
transactions in 2023
transactions a month
average payment value per day
accounts reachable
PayIDs registered
* Source: AP+ data, 30 September 2024 and RBA payments data
A large and growing volume of Australian payments are already being made on the NPP. AP+ is working with banks, payment service providers and industry partners to drive the transformation of consumer, business and government payments ahead of the 2030 target date for retiring Australia’s legacy payments infrastructure.
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To learn more about the opportunities to transform your business payments, talk to your bank or payments service provider.
AP+ acknowledges the Gadigal People of the Eora nation as the Traditional Custodians of the lands on which we are based and pay our respects to Elders past, present and emerging. We recognise all Aboriginal and Torres Strait Islander peoples' ongoing connection to the lands and waters of Australia and thank them for their pivotal role in caring for Country. Always was and always will be Aboriginal Land.
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