New Payments Platform

The New Payments Platform (NPP), operated by New Payments Platform Australia Ltd (NPPA) is an industry-wide payments platform for Australia. It became accessible to the general public on 13 February 2018 with the introduction of PayID, an addressing capability, and Osko, the first NPP overlay service, operated by BPAY. As of November 2022, there are nearly 13 million registered PayIDs.

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. The NPP was announced in July 2013 by the Australian Payments Clearing Association. 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.

In September 2021, the Australian Competition & Consumer Commission (ACCC) authorised a proposed merger of the New Payments Platform of eftpos Payments Australia and BPAY.

Mandated Payment Service and PayTo
The Mandated Payment Service is now known as PayTo. It is a system for enabling "withdrawals" on the NPP. The NPP does not inherently support "withdrawals", so the service provides an overlay allowing the "withdrawing" party to create a payment order and authorisation request.

PayID and PayTo routing
PayID is NPP's addressing service to enable payments. Its PayTo facility allows for payments to be sent by a user to a PayID. The following chart compares PayID mobile payments via NPP to electronic payments, or bank transfers.

PayID will coexist with the BSB and account number addressing scheme.

Osko
Osko is owned and operated by BPAY, and operates on the NPP as an overlay service. It uses PayID as a reference for payments. Payments are instant to accounts that have been transferred to previously.

In the spring of 2021, BPAY attributed a change in NPPA strategy (particularly the announcement of MPS, the Mandated Payment Service), as the cause of write-down in the value of their Osko business.

Online scams
PayID has been noted in Australia as a vehicle for online scammers on social media marketplaces.