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RBA Glossary definition for NPP

NPP – New Payments Platform

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Box D: The New Payments Platform and Fast Settlement Service

10 Apr 2018 FSR – April 2018
The NPP and FSS are completely new pieces of payments infrastructure (Figure D1). ... the settlement of NPP payments through the FSS or the settlement of other transactions in RITS.
https://www.rba.gov.au/publications/fsr/2018/apr/box-d.html

Submission to Payments System Review – January 2021 | Responses and Options Paper

8 May 2024 Submissions
The Bank has an MOU with NPP Australia Limited (NPPA), which sets out arrangements for engagement and information sharing. ... The introduction of real-time payments with the establishment of the NPP in 2018.
https://www.rba.gov.au/publications/submissions/payments-system/submission-to-payments-system-review-01-2021/index.html

Inquiry into Future Directions for the Consumer Data Right – April 2020 | Payments System | Submissions

8 May 2024 Submissions
Another development in this area is the Mandated Payments Service (MPS) for the New Payments Platform (NPP). ... The MPS is currently in development; the operator of the NPP, NPP Australia, anticipates that financial institutions will begin to rollout
https://www.rba.gov.au/publications/submissions/payments-system/future-directions-for-the-consumer-data-right/index.html

Submission to the Senate Select Committee on Financial Technology and Regulatory Technology – December 2019 | Payments System | Submissions

28 Dec 2019 Submissions
Direct participants connect to the NPP directly using their own NPP payment gateway. ... In response, the report included a number of recommendations relating to NPP access:.
https://www.rba.gov.au/publications/submissions/payments-system/financial-and-regulatory-technology/index.html

Overview

10 Apr 2018 FSR – April 2018
An important development in recent months was the launching of the New Payments Platform (NPP), which enables very fast payments on a 24/7 basis using a recipient's email address, ... The NPP will increase the efficiency of the payments system and may
https://www.rba.gov.au/publications/fsr/2018/apr/overview.html

The Australian Financial System

12 Apr 2019 FSR – April 2019
Some participants have had minor operational incidents affecting their NPP infrastructure, in some cases coinciding with operational incidents affecting service availability in their other systems. ... Both NPP Australia Limited (the operator of the NPP)
https://www.rba.gov.au/publications/fsr/2019/apr/australian-financial-system.html

The Australian Financial System

10 Apr 2018 FSR – April 2018
The Fast Settlement Service (FSS), a new component of RITS, facilitates the settlement of NPP payments on a 24/7 basis. ... Box D: The New Payments Platform and Fast Settlement Service’ provides detail on the NPP and FSS and their financial stability
https://www.rba.gov.au/publications/fsr/2018/apr/australian-financial-system.html

Abbreviations | Submission to the Financial System Inquiry – March 2014 | Financial Sector | Submissions

1 Mar 2014 Submissions
NPP. New Payments Platform. NPPSC. New Payments Platform Steering Committee. NSFR.
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/abbreviations.html

Summary of Key Themes | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector | Submissions

6 Sep 2017 Submissions
This could result in established customers cross-subsidising new customers. Greater transparency, as discussed above, would be beneficial as will improvements in switching through digital identity and the NPP.
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/summary-of-key-themes.html

Competition in the Payments System | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector | Submissions

6 Sep 2017 Submissions
Looking forward, the New Payments Platform (NPP) and the introduction of an open banking regime may facilitate the development of services that make account switching easier (see below). ... The NPP, currently under development by a group of 13 financial
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/competition-in-the-payments-system.html