The New Payments Platform (NPP) is an industry-wide payments platform for Australia currently in development.It was announced in July 2013 by APCA.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.
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.The NPP is expected to be operational in second half 2017.
The New Payments Platform is a major industry initiative to develop new national infrastructure for fast, flexible, data rich payments in Australia that means.It will provide Australian businesses and consumers with a fast, versatile, data-rich payments system for making their everyday payments.further more information and NPP Program you can visit or contact at Adactin(Australia). http://www.adactin.com/npp/
The NPP will be open access infrastructure for Australian payments. The intention is that all ADIs will connect to the NPP, either directly or indirectly through another member, so they can process a wide variety of fast data-rich payments for their account holders.