AP+ held its latest Payment Service Provider (PSP) Forum on 19 August 2024. Chaired by Greg Cooper, independent AP+ director, the forum considered an overview of AP+’s ongoing work related to the move to the NPP.
Key discussion points included account reach, with more than 100 million accounts reachable by the NPP, with plans to connect several million currently non-reachable super accounts in the future.
AP+ provided an overview of work related to bulk processing on the NPP, focusing on central infrastructure and ecosystem readiness, and will ensure end-to-end engagement and consultation with PSPs.
The forum explored the need for a comprehensive analysis of costs beyond transaction costs, including operational costs. We will gather feedback from the industry to help articulate this.
Participants sought clarification on whether focus for the move to NPP is on direct debit, credit, or both. AP+ is focusing on all aspects but the initial focus is on NPP readiness, bulk processing, and ISO uplift, with participants executing their own migration plans. The migration of Direct Debits to PayTo is also a focus.
AP+ intends to create a standard payment instruction format. Participants discussed the need for industry-driven standard, and ensuring alignment with ATO guidance. AP+ also discussed managing peak processing volumes and the need to uplift capacity.
Engagement and approach to ecosystem readiness was covered in relation to the importance of broader communication, customer toolkits, and clarity on PayTo’s differences from Direct Debit.
On Confirmation of Payee (COP), discussion centred around expanding COP services to businesses to address issues like misdirected salary payments.
AP+ will set up an update on discussions on proposed approach to bulk payments with PSPs within the next few months.
Our thanks go to our in-person and remote attendees for their participation: Gregory Cooper (Chair, AP+ independent Board member), Tim Stanley (Monoova), Chris Hurst (FatZebra), Steve Price (MYOB), Tony Crudgington (Global Payments), Raky Pathak (Merchant Warrior), James Foster (EzyPay), Jason McAlister (Stripe), Danielle Smith (Xero), Simone Joyce (Paypa Plane), Carlo Lacota (G&D), Lynn Kraus, Adrian Lovney, Liz Fong, Dave Hemmingway, Katrina Stuart, Marnie Ryan, Carolina Lopes, Shweta Batra, Naomi Nixon, Sammy Won (all AP+).
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