{"id":6907,"date":"2023-09-13T18:32:16","date_gmt":"2023-09-13T18:32:16","guid":{"rendered":"https:\/\/www.onlinedigitalcompany.com\/adactin\/?page_id=6907"},"modified":"2023-09-13T18:38:22","modified_gmt":"2023-09-13T18:38:22","slug":"new-payment-platform","status":"publish","type":"page","link":"https:\/\/www.onlinedigitalcompany.com\/adactin\/new-payment-platform\/","title":{"rendered":"New Payment Platform"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6907\" class=\"elementor elementor-6907\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9c418ca elementor-section-full_width elementor-section-stretched elementor-section-height-min-height tm-column-break-ipad-no tm-col-stretched-none elementor-section-height-default elementor-section-items-middle\" data-id=\"9c418ca\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f6696f6\" data-id=\"f6696f6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-489be64 elementor-widget elementor-widget-heading\" data-id=\"489be64\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.0 - 29-03-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">New Payment Platform\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e0b2f11 tm-column-break-ipad-no tm-col-stretched-none elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0b2f11\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fe1a271\" data-id=\"fe1a271\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2618807 elementor-widget elementor-widget-heading\" data-id=\"2618807\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">New Payments Platform \u2013 Innovate the way we pay\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fbdb884 elementor-widget elementor-widget-text-editor\" data-id=\"fbdb884\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.0 - 29-03-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><strong>What is NPP?<\/strong><br \/>The New Payments Platform is a world-class payments infrastructure for the Australian economy. It gives consumers, businesses and government departments a platform to make fast, versatile and data-rich payments to meet the evolving needs of a 24\/7 digital economy.<\/p><p>The NPP platform is collaboratively developed by NPP Australia Ltd and 13 financial institutions.\u00a0A large number of additional financial institutions are now connecting to the infrastructure through one of the initial participants. At present, a majority of Australian bank accounts are able to receive faster data-rich payments. This reach will gradually increase as more financial institutions and organizations connect to the platform over time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b754505 tm-column-break-ipad-no tm-col-stretched-none elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b754505\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3e08244\" data-id=\"3e08244\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd4c6ca elementor-widget elementor-widget-heading\" data-id=\"dd4c6ca\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How payments are made?<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7bf8fb3 elementor-widget elementor-widget-text-editor\" data-id=\"7bf8fb3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul style=\"padding-top:0px;margin-top:0px;\">\n \t<li>Made using an Australian BSB and Account Number.<\/li>\n \t<li>Made to a registered Alias (like a phone number or email address).<\/li>\n \t<li>Scheduled for a future time.<\/li>\n \t<li>Sent using Osko by BPAY which works seamlessly with PayID, allowing transfer to be completed within 1 minute,24\/7.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-894f643 tm-column-break-ipad-no tm-col-stretched-none elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"894f643\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-866c180\" data-id=\"866c180\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b2a32b7 elementor-widget elementor-widget-heading\" data-id=\"b2a32b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Why NPP?<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fb35e59 elementor-widget elementor-widget-text-editor\" data-id=\"fb35e59\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul style=\"padding-top: 0px; margin-top: 0px;\"><li><strong>Simpler IDs:\u00a0<\/strong>PayID renders money transfers easier. Hard-to-remember BSBs and account numbers can be swapped with PayID such as mobile number, email address or ABN.<\/li><li><strong>Quicker transfers:\u00a0<\/strong>NPP offers Payment Processing in Real-Time, which allow money is sent and received almost instantly \u2013 in less than a minute \u2013 24\/7, 365 days a year.<\/li><li><strong>Richer descriptions:\u00a0<\/strong>NPP allows more room to add a description to their payments. Payers can use up to 280 characters including emojis to describe their transfers.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f455684 tm-column-break-ipad-no tm-col-stretched-none elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f455684\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6ab8f15\" data-id=\"6ab8f15\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3279e75 elementor-widget elementor-widget-heading\" data-id=\"3279e75\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How does it work?\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d686d31 elementor-widget elementor-widget-text-editor\" data-id=\"d686d31\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"fl-col-group fl-node-5c5319677c54a\" data-node=\"5c5319677c54a\"><div class=\"fl-col fl-node-5c5319677ca19\" data-node=\"5c5319677ca19\"><div class=\"fl-col-content fl-node-content vamtam-show-bg-image\"><div class=\"fl-module fl-module-rich-text fl-node-5c52aebe895e0\" data-node=\"5c52aebe895e0\"><div class=\"fl-module-content fl-node-content\"><div class=\"fl-rich-text\"><p>The New Payments Platform works through three important parts<\/p><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fl-col-group fl-node-5c53195beb9d1\" data-node=\"5c53195beb9d1\"><div class=\"fl-col fl-node-5c53195bebd36 fl-col-small\" data-node=\"5c53195bebd36\"><div class=\"fl-col-content fl-node-content vamtam-show-bg-image\"><div class=\"fl-module fl-module-photo fl-node-5c52ae94379c7\" data-node=\"5c52ae94379c7\"><div class=\"fl-module-content fl-node-content\">\u00a0<\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ee0f164 elementor-section-stretched tm-column-break-ipad-no tm-col-stretched-none elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ee0f164\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-de0ed09\" data-id=\"de0ed09\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3eb1c41 elementor-widget elementor-widget-image\" data-id=\"3eb1c41\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.0 - 29-03-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"630\" height=\"424\" src=\"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-content\/uploads\/2023\/09\/how-it-works-1-840x565-630x424-1.jpg\" class=\"attachment-large size-large wp-image-6910\" alt=\"\" srcset=\"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-content\/uploads\/2023\/09\/how-it-works-1-840x565-630x424-1.jpg 630w, https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-content\/uploads\/2023\/09\/how-it-works-1-840x565-630x424-1-300x202.jpg 300w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" data-id=\"6910\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-5fc42b7\" data-id=\"5fc42b7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4987bc5 elementor-widget elementor-widget-heading\" data-id=\"4987bc5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The \u2018Basic Infrastructure\u2019\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5198408 elementor-widget elementor-widget-text-editor\" data-id=\"5198408\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Basic Infrastructure includes a network (which connects participants), a switch (which moves messages between participants via the network) and an Addressing Service which enables transaction accounts to be identified by a simpler payment address.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d90f6a elementor-widget elementor-widget-heading\" data-id=\"4d90f6a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The Fast Settlement Service\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63af30f elementor-widget elementor-widget-text-editor\" data-id=\"63af30f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Fast Settlement Service (FSS) enables every single payment made on the platform, regardless of its size, to be settled in real-time in central bank funds, across each financial institution\u2019s Exchange Settlement Account (ESA).<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2c9b3e elementor-widget elementor-widget-heading\" data-id=\"b2c9b3e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Overlay Services\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c77491 elementor-widget elementor-widget-text-editor\" data-id=\"2c77491\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Overlay Service can leverage the benefits of the Basic Infrastructure. This is where the New Payments Platform breathes life into innovation and competition. The first Overlay Service to go live on the platform will be\u00a0Oskoby BPAY.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>New Payment Platform New Payments Platform \u2013 Innovate the way we pay What is NPP?The New Payments Platform is a world-class payments infrastructure for the Australian economy. It gives consumers, businesses and government departments a platform to make fast, versatile and data-rich payments to meet the evolving needs of a 24\/7 digital economy. The NPP &hellip; <a href=\"https:\/\/www.onlinedigitalcompany.com\/adactin\/new-payment-platform\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">New Payment Platform<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6907","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/pages\/6907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/comments?post=6907"}],"version-history":[{"count":4,"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/pages\/6907\/revisions"}],"predecessor-version":[{"id":6913,"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/pages\/6907\/revisions\/6913"}],"wp:attachment":[{"href":"https:\/\/www.onlinedigitalcompany.com\/adactin\/wp-json\/wp\/v2\/media?parent=6907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}