New Payments Platform

The New Payments Platform (NPP) is an industry-wide payments platform for Australia currently in development. It was announced in July 2013 by APCA.^[1] The new platform for real-time low value payments was in response to the Reserve Bank of Australia's Payment System Board’s Conclusions to the Strategic Review of the Innovation in Payments System publication.^[2] The New Payments Platform is new national infrastructure for fast, flexible, data rich payments in Australia. In December 2014, the Program proceeded to the third phase, "design, build and test". In 2015 a contract was signed with SWIFT to design, build and operate the platform.^[3] The NPP is expected to be operational in second half 2017.

References

↑ Industry wide program to develop the New Payments Platform gets underway. Retrieved 8 July 2013.
↑ Strategic Review Report
↑ NPP Phases 3 and 4. Retrieved 30 October 2015

Banking in Australia

Bank regulation	Australian Prudential Regulation Authority Australian Competition and Consumer Commission Australian Payments Clearing Association Four pillars policy

Central bank	Reserve Bank of Australia

Big Four	Australia and New Zealand Banking Group (ANZ) Commonwealth Bank of Australia National Australia Bank Westpac Banking Corporation

Other banks	AMP Bank of Melbourne (WBC) Bank of Queensland BankSA (WBC) Bankwest (CBA) Bendigo and Adelaide Bank Cuscal Defence Bank Heritage Bank Macquarie Group ME Bank Bank Australia QT Mutual Bank Rural Bank Suncorp St.George Bank (WBC) Teachers Mutual Bank Victoria Teachers Mutual Bank

Foreign banks	Arab Bank Bank of China Beirut Hellenic Bank Citibank Australia HSBC Bank Australia ING Direct Investec Rabobank

Non-bank lenders	RAMS (WBC) Mortgage Choice GE Capital Aussie Home Loans

Category:Banks of Australia List of banks in Australia Financial system in Australia Economy of Australia

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