NPP Soundbites

Recently the Australian Banking Association (ABA) and participating member banks launched the "Australian Banks: Working to Protect You" campaign to help protect customers against the growing threat of scams. During this campaign, the ABA highlighted that PayID helps to stop scams because unlike traditional payments, the payer can see a confirmation screen with the intended payee's PayID name before making the payment.

Here, Christine Cupitt, Chief of Policy & Strategy ABA, discusses the types of scams we are seeing in the Australian market and the role PayID is playing to help protect Australian consumers and businesses.

At the inaugural Real Time Payments Summit in May this year, David James shared his experience implementing NPP enabled payments and processes at Panasonic Australia and New Zealand. In this episode of NPP Soundbites, David recaps on some of the insights he shared at the summit; it's a great listen for corporates commencing their NPP Journey.

In a recent speech to the Committee for Economic Development of Australia, Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, called out the NPP as a key driver of Australia’s digital economy. In this episode of NPP Soundbites, we invited Minister Hume to describe how she sees the NPP  evolving areas such as einvoicing, government payments, superannuation and the Consumer Data Right.  

In the United Kingdom, the roll-out of real-time payments and Open Banking  is slightly ahead of Australia, offering an important case study for the Australian market. This is this second of two interviews with Kate Flemish from the UK's leading payment authority, Pay.UK. In this episode hear Kate discuss what we can learn from the UK's introduction of Request to Pay and fighting scams and fraud with Confirmation of Payee.

In the United Kingdom, the roll-out of real-time payments and Open Banking  is slightly ahead of Australia, offering an important case study for the Australian market. This is this first of two interviews with Kate Flemish from the UK's leading payment authority, Pay.UK. In this episode she discusses the impact of Open Banking on real-time account-to-account payments and the significant work underway to develop a new payments architecture for the country.

As co-leader of Bain & Company's Global Digital Banking Initiative, Richard Fleming's work finds him at the heart of transformative change within organisations in the banking, insurance, wealth management and payments sectors. In this final episode for 2021, Richard reflects on global trends driving change and what the Australian payments landscape could look like in 2022 when third party payment initiation arrives in the form of PayTo.

Chubb Insurance is the first insurer to use the NPP to offer instant payouts to its customers. In this episode hear Chubb's Gerard Sitaramayya and ANZ's Michael Lim, discuss how this award winning solution has overhauled Chubb's customer experience and vastly improved operational efficiency.  

Earlier this year, PayTo was revealed as the name for the NPP's Mandated Payments Service – the new, digital way for merchants and businesses to initiate real-time payments from their customers’ bank accounts. 

Hear Richard Curtis from FutureBrand discuss the process his organisation followed with NPP Australia to identify the PayTo moniker from a sea of possibilities. It’s a great listen for anyone who develops, names and markets products in the payments and financial services sectors.

The data richness of NPP payments, including the ability to include longer descriptions with a payment, is a central benefit of the New Payments Platform. However, like other technology carriers, this benefit is open to misuse. 

Hear Karen Bentley, CEO of Wesnet (the National peak body for specialist women's domestic and family violence services) and Catherine Fitzpatrick, the Director of Customer Vulnerability & Financial Resilience at Westpac, discuss the serious issue of technology facilitated abuse and how the financial services industry and NPP ecosystem are responding. 

Anita LeMaire from FIS Global draws from the Flavors of Fast 2020 and the Performance Against Customer Expectations (PACE) reports to take us on a trip around the world to look at the latest developments in data-rich real-time payments.