Auswide Bank launches New Payments Platform

Auswide Bank has launched the New Payments Platform (NPP) allowing customers to send and receive payments in near real-time.

The New Payments Platform enables the clearing and settlements of payments to occur in under a minute between participating Australian financial institutions on a 24/7 basis. The NPP allows not only Australian consumers to make fast payments, but also Australian businesses and government agencies.

Auswide Bank is one of more than 100 financial institutions that offer NPP services which currently includes Osko (near-real time payments) and PayID (an easy-to-remember piece of information, such as a mobile phone, that links to a transaction account).

Auswide Bank chief customer officer, Damian Hearne, said the implementation of the NPP for customers has been highly anticipated and will be a game-changer for every-day banking needs.

“The New Payments Platform really brings banking in-line with the way people operate on a day-to-day basis. Our expectations for sending and receiving information are aligned to the internet and the digital applications we use each day. The NPP will allow our customers to perform their banking requirements faster, smarter and more securely without the stress of when funds will arrive.”

To find out more about Osko and PayID visit: