Ways to access the platform
There are a number of different pathways to access the NPP, designed to enable as many organisations as possible to reap the benefits of the platform.
NPP Participants
Are
- Authorised deposit taking institutions
- Able to process and clear payments
- Currently, NPP has 14 participants
- Example: Big four banks
Can
- Offer and process real-time payments for their customers through the NPP
- Access PayTo and offer PayID addressing services
- Provide secondary access services to third parties, e.g. Identified institutions
- Send payment initiation instructions to NPP Participants for payments to be processed from customer accounts
Need to
- Hold an Exchange Settlement Account at the RBA and an ADI licence (full or restricted) to settle payments in real time
- Meet certain technical connectivity requirements
- Have real-time fraud protection and detection controls and capabilities in place
- Have the requisite KYC, AML and CDR controls and policies in place
Install and support a Payment Access Gateway
Connected Institutions
Are
- Able to connect directly to the NPP to initiate payments
- Not directly processing or clearing payments
- Example: payroll providers or share registries
Can
- Send payment initiation instructions to NPP participants for payments to be processed from customers’ accounts
- Access PayTo
- Perform limited PayID lookups to the PayID addressing service
- Connect directly by having own NPP Payment Access Gateway
Need to
- Meet certain technical connectivity requirements, e.g. resilience, availability, cyber security
- Have real-time fraud protection and detection controls and capabilities in place
- Have the requisite KYC, AML and CDR controls and policies in place
- Be licensed to operate in Australia
- Be able to demonstrate financial solvency and meet certain credit risk requirements
- Install and support a NPP Payment Access Gateway if wanting to connect directly to the NPP
Identified Institutions
Are
- Able to offer customers NPP enabled payments and products via an arrangement with a directly connected NPP Full Participant who can clear and settle payments on their behalf
Can
- Offer real-time payments for their customers through sponsoring NPP Participant
- Register PayIDs for own customers and perform PayID lookups via indirect access through sponsoring NPP Participant
- Access PayTo through sponsoring NPP participant
- Use the native capabilities of the Platform and business services offered by the sponsoring NPP Participant
Need to
- Have a commercial agreement with a NPP Participant
- Use the Exchange Settlement Account of the sponsoring NPP
- Participant to settle customer payments
- Have real-time fraud protection and detection controls and capabilities in place
- Have the requisite KYC, AML and CDR controls and policies in place
Have own BSB and SWIFT BIC code
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