New Payments Platform

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New Payments Platform Australia

The New Payments Platform (NPP) is an industry-wide payments platform for Australia, national infrastructure for fast, flexible, data rich payments in Australia. It was first made accessible to the general public on February 13, 2018 with the launch of PayID, a simple addressing capability, and Osko,[1] the first NPP Overlay Service, operated by BPAY. As of 2020, more than 60 Australian banks have adopted the system.

The new instant payment 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 NPP was announced in July 2013 by APCA.[3] 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.[4]


PayID is an opt-in account addressing scheme that aims to make sharing account details easier, in place of the existing BSB and account number addressing. Currently, phone numbers, email addresses, and ABNs can be used.[5] The BSB and account number addressing scheme will continue to be used in parallel. PayID is planned to be supported by most major financial institutions throughout Australia.[6]


Osko is owned and operated by BPAY, and operates on the NPP as an overlay service.

It uses PayID as a reference for payments, and allows a 280 character message in place of the short reference codes permitted for transfers. Payments are instant to accounts that have been transferred to previously.


  1. ^ "Osko by BPAY". Retrieved 2017-11-03.
  2. ^ Strategic Review Report
  3. ^ Industry wide program to develop the New Payments Platform gets underway. Retrieved 8 July 2013.
  4. ^ NPP Phases 3 and 4. Retrieved 30 October 2015
  5. ^
  6. ^