What New Payments Platform does

New Payments Platform (NPP) is Australia's national real-time payments infrastructure, publicly launched on 13 February 2018 after industry go-live in November 2017. It connects over 100 banks, financial institutions, and fintechs, enabling 24/7 account-to-account payments across consumer, business, and government segments. The platform is built on ISO 20022 message standards and an open API framework, supporting overlay services including Osko (real-time payments), PayID (addressing via mobile, email, or ABN), PayTo (payment initiation), and information-rich payments with embedded transaction data and classification for payroll, superannuation, and tax. Adjacent capabilities include Confirmation of Payee (scam protection), ConnectID (digital identity), and an International Payments Service for inbound cross-border payments. NPP processes approximately $7.8 billion in payment value per day, 165+ million transactions per month, and 1.93 billion transactions annually, with 128 million accounts reachable and 37+ million PayIDs registered as of mid-2025/early-2026.

NPP operates as a private entity under Australian Payments Plus (AP+), formed in September 2021 from the ACCC-authorized amalgamation of NPP Australia, BPAY Group, and eftpos. The three legacy schemes continue as distinct operations under a unified Board with a shared roadmap. Revenue is generated through transaction-based scheme fees paid by participating financial institutions and payment service providers; specific pricing tiers are not publicly disclosed. Distribution occurs through direct connections (Connected Institutions and Participants), overlay service providers, payment service providers, and banking partners. Marketing and stakeholder engagement are conducted through content, podcasts, webinars, industry events, and the cross-industry Move to NPP Program, with active positioning around the upcoming July 2026 payday super reform as a near-term catalyst.

Name

New Payments Platform

Legal name

NPP Australia Limited

Website

https://nppa.com.au

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

New Payments Platform is Australia's national real-time payments infrastructure, connecting over 100 banks, financial institutions, and fintechs to enable 24/7 account-to-account payments via Osko, PayID, and PayTo, operating under Australian Payments Plus (AP+).

Ownership category

akta.pro rank

Product category

Real-Time Payments Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Instant Payment Scheme Connectivity & Processing (e.g., FedNow, SEPA Instant, Faster Payments) (FSAMAHAD)

akta.pro secondary industries

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Real-time payments
• Payment infrastructure
• Account-to-account payments
• Fast payments
• Payment processing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Transaction-based scheme fees: The NPP generates revenue through transaction fees charged to participating financial institutions and payment service providers for processing real-time payments. Fees are paid by scheme members who connect to and use the NPP infrastructure for payment processing.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

New Payments Platform (NPP) is Australia's real-time, 24/7 account-to-account payments infrastructure connecting over 100 banks, financial institutions, and fintechs. The platform processes approximately $7.8 billion in payments daily (1.93 billion annually) and supports overlay services including Osko for real-time bank account transfers, PayID for easy payment addressing, and PayTo for automated real-time payment initiation. It also offers information-rich payments (CAT SCT), International Payments Service (IPS), Confirmation of Payee, and ConnectID digital identity as part of the broader AP+ portfolio.

Product overview

New Payments Platform (NPP) is Australia's fast payments infrastructure operated by Australian Payments Plus (AP+). It is a platform-plus-modules architecture comprising the core NPP infrastructure with overlay services including Osko (real-time payments), PayID (addressing), and PayTo (automated payments). Additional capabilities include Information-rich payments (CAT SCT) for data embedding and classification, and the International Payments Service (IPS) for cross-border payments. AP+ also operates BPAY (bill payments) and eftpos (debit card network) as part of a unified payments portfolio, alongside ConnectID (digital identity) and Confirmation of Payee (scam protection).

Differentiator

Problem solved

Functional benefit

Brands

• Osko: Secure payment service enabling real-time payments between bank accounts
• PayID
• PayTo
• Information-rich payments (CAT SCT)
• International Payments Service (IPS)

Products and services

• New Payments Platform (NPP) Australia's fast payments infrastructure connecting over 100 banks, financial institutions and fintechs, facilitating real-time payments 24/7 with money moving between bank accounts using Osko, PayID and PayTo. Launched in 2018, it processes around $7.8 billion of payments daily.
• Osko Secure payment service enabling real-time payments between bank accounts, built on the NPP infrastructure.
• PayID Easy payment addressing service enabling users to send and receive money using a mobile number, email address, ABN or organisation identifier instead of BSB and account numbers. Over 37 million PayIDs registered.
• PayTo Enables businesses to initiate real-time payments from their customers' bank accounts, supporting automated and reliable payment arrangements.
• Confirmation of Payee Provides a layer of protection for payments to BSB and account numbers to help protect Australians from scams and mistaken payments.
• ConnectID Digital trust solution enabling secure identity verification for payments and other financial services.
• BPAY Secure bill payment service allowing customers to pay bills through their bank using BPAY codes, part of the consolidated AP+ portfolio.
• eftpos Australia's domestic debit card network, now part of AP+ alongside NPP and BPAY to provide comprehensive payment infrastructure.

Quantifiable outcome

• $7.8 billion processed daily on average
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• J.P. Morgan PaymentscoreStrategic or Co-development Partner · 25 July 2024J.P. Morgan Payments, part of JPMorganChase, joined as an eftpos member and joined the New Payments Platform, strengthening diversity in the network and furthering competition in Australian payments.
• ZeptocoreTechnology or Integration · 26 October 2021Zepto (formerly Split Payments) became the first non-ADI and accredited CDR data recipient to become an NPP Connected Institution, enabling fintech access to real-time payments.
• Wise AustraliacoreTechnology or Integration · 27 September 2021Wise Australia, the Australian arm of global technology company Wise, became an NPP Participant enabling cross-border and domestic payment capabilities.
• Stone & ChalkminorGTM or Marketing Partner · 21 May 2019NPP Australia and Stone & Chalk partnered to deliver a masterclass on the New Payments Platform and future capabilities for fintech innovation.
• KPMGminorStrategic or Co-development Partner · 18 May 2018NPP Australia and KPMG co-authored a whitepaper on the industry approach to minimizing real-time payments fraud.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• The Clearing House (Real-Time Payments): Operator of the US Real-Time Payments (RTP) network, the most direct global analog to NPP — a real-time, 24/7 A2A payment scheme connecting hundreds of US banks with ISO 20022 messaging and rich-data payments.
• Monetary Authority of Singapore (PayNow / Singapore Fast): Oversees Singapore's PayNow and Fast payment systems, which deliver real-time A2A and bulk payments in SGD — comparable in scale ambition and overlay-service design (proxy addressing, etc.) to NPP.
• Bank of Thailand (PromptPay): Operates Thailand's PromptPay, a real-time A2A rail using proxy identifiers (national ID, mobile) similar to NPP's PayID. Comparable scheme-level design and growing transaction volume.
• EBA CLEARING (SEPA Instant): Pan-European operator of SEPA Instant Credit Transfer, providing real-time A2A euro payments across multiple jurisdictions — the closest European analog to NPP's instant, data-rich interbank payment model.
• Banco Central do Brasil (PIX): Operates Brazil's PIX instant payment system, a central-bank-operated 24/7 A2A rail that has rapidly displaced cards and bank transfers — directly comparable to NPP's role in modernizing Australian retail payments.
• Pay.UK (Faster Payments Scheme): Operates the UK's Faster Payments Service, the UK's real-time A2A payment rail — comparable to NPP in function (instant interbank settlement, 24/7 availability) and similar in being a domestic-only scheme infrastructure.
• NPCI (Unified Payments Interface / UPI): Operates India's UPI, the world's largest real-time A2A payment scheme by volume. Operationally and architecturally comparable to NPP: open API design, multiple overlay services, broad bank and fintech participation.

Broad incumbents

• Visa Direct: Visa's real-time push payments product, leveraging card rails for A2A and disbursement use cases. Competes with NPP/PayTo for merchant payouts, gig economy, and B2B instant payment flows globally.
• Zelle: US bank-owned P2P instant payment network. While not a scheme operator, it is functionally comparable to NPP's Osko consumer P2P overlay — competing for the same real-time consumer payment moments in a different regulatory geography.
• Mastercard Send: Mastercard's real-time disbursements and A2A payment product, an incumbent card-network alternative to scheme-based instant rails like NPP for cross-border and domestic push-payment use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/australian-payments-plus/?originalSubdomain=au
• Xx.com/NPP_Aus

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Payments Platform