Real-time Payments FAQs

The New Payments Platform (NPP) enables near real-time payments to be processed 24 hours a day, 365 days of the year. The Osko logo signifies that the payment should be available to the payee in under a minute (and usually within 15 seconds). Watch our video about how fast the NPP is.

The Payer is an ‘NPP participating’ financial institution that has enabled PayTo® for their customers and can make payments from customer bank accounts to third parties based on pre-authorised payment agreements and payment initiation requests. PayTo® is a registered trademark of NPP Australia Limited. PayTo® is a registered trademark of NPP Australia Limited.

A PayTo® payment agreement is a digital agreement customers have with a merchant or business to debit their bank account according to the terms they have authorised (like a direct debit). PayTo® is a registered trademark of NPP Australia Limited.

PayTo® is a New Payment Platform (NPP) payment method that enables merchants and businesses to initiate real-time payments from their customers’ bank accounts and gives consumers more visibility and control over their payments. PayTo® is a registered trademark of NPP Australia Limited.

It is an Australian Payments Plus AP+ mandatory compliance requirement that ‘all NPP participating financial institutions’ must be able to support PayTo® Payer capabilities. Cuscal provides its clients with the ability to support the mandatory PayTo capabilities via our PayTo Payer services. Client systems use Cuscal services to: a) Receive Payment Initiation Requests (PIRs) and […]

PayTo® will operate as an alternative to existing direct debit processes and BPAY. PayTo was designed as a replacement for direct debits but is expected to exceed its original purpose. Australian Payments Plus (AP+) anticipates a range of use cases will use PayTo, including migration of direct debits from Bulk Electronic Clearing System (BECS), for […]

PayTo® is currently available within the online banking of over 60 banks and other financial institutions, with more to come. ANZ, CBA, Westpac and NAB have all enabled PayTo for their retail customer accounts. More than 90 per cent of individual accounts are PayTo-enabled. PayTo® is a registered trademark of NPP Australia Limited.

The Payment Initiator creates and manages payment agreements and sends payment initiation requests to Payers based on the terms of the agreement. The Payment Initiator can be a payment service provider, a financial institution that provides PayTo® Initiator services, or a business customer that is using these services. PayTo® is a registered trademark of NPP […]

Merchants and businesses can create PayTo® payment agreements to initiate payments from a customer’s bank account (on a recurring or ad hoc basis) according to the terms authorised by the customer. Once authorised, merchants and businesses can initiate requests for payments. The customer’s bank will review the payment initiation request to ensure it is in […]

The New Payments Platform is Australia’s real-time payments system. It enables users to make payments simply and quickly between accounts at different financial institutions.  Watch our video about NPP or visit NPP Australia’s website.

Watch our video that shows a real-time payment between two accounts at participating financial institutions, using a simple to remember PayID®. PayID® is a registered trademark of NPP Australia Limited.

The New Payments Platform provides faster payments as it allows people to: make payments in near real time.  transfer money any time of day or night.  include more information in the payment description (up to 280 characters).  address payments using easy to remember information instead of bank account details e.g., mobile phone numbers or email […]

PayID® is a smart address for payments, enabling customers to link their bank account to a recognisable and memorable piece of information that they use in everyday life e.g., a mobile phone number or email address. Find out more information about real-time payments or for more information visit the PayID website at https://payid.com.au/. PayID® is […]

Three ways PayID® makes life easier: PayIDs are easier to remember than BSBs and account numbers. It is easy to share a PayID with other people. You receive confirmation of the account name. PayID® is a registered trademark of NPP Australia Limited.

Osko® uses the NPP to send money between participating banks fast within online banking. Osko is a real-time payment. You will see the transaction appear as Osko or the Osko logo when you make or receive an Osko Payment. To find out more about Osko visit their website. Osko® is a registered trademark of BPAY […]