NPP Solution

The New Payments Platform is a world class payments infrastructure for the Australian economy. It gives consumers, businesses and government departments a platform to make fast, versatile and data-rich payments to meet the evolving needs of a 24/7 digital economy.

It’s a platform that enables real-time clearing and settlement for simple or complex payment solutions, between two people or between many. It can simplify payments through an Addressing Service, called PayID, as well as offer the ability to include more information with payments, such as text or links to externally hosted documents.

While the platform has been collaboratively developed by NPP Australia Ltd and 13 financial institutions, ASL is one of the directly connected participants who launched on Day 1, proudly enabling our Members to be there also.

Your NPP Partner

As a long-time provider of innovative and reliable payment solutions, ASL has a deep understanding of the payments landscape along with strong industry relationships.

ASL offers a full agency solution that includes;

  • Opportunity to reduce costs – through our aggregated model. Offers both Single Credit Transfers (SCT) and BPAY’s Osko Overlay Service 1 (Payments) at industry launch.
  • PayID registrations and updates
  • Real time payments clearing and settlement processing
  • Industry standard gateway solution provided by FIS, a global financial services vendor
  • Our NPP Solution is hosted on world-leading infrastructure
  • Standard API’s based on the ISO 20022 specification
  • Fully hosted case management solution with operational and technical support available
  • Access to Industry Innovation through representation on NPPA Committees, enabling us to align with your road-map to support plans to implement NPP and future services

If you would like to know how we can connect you to the future of payments via NPP, please contact us at [email protected]


PayID is the name of the New Payments Platform addressing service. It’s a function of the platform that allows consumers to link financial accounts to easy-to-remember pieces of information such as phone numbers and email addresses.

Consumers will be able to provide their PayID to people or organisations they wish to receive payments from. It’s about simplifying the payments process by using information that is easier to remember than traditional BSB and account numbers.

Consumers and businesses can create a PayID with their participating financial institution. At the same time, organisations developing a service or product supported by the platform, may wish to use the PayID functionality as part of their service offering.

To read more about PayID, visit


The first innovative product delivered via the New Payments Platform is Osko by BPAY.

Meet the faster way to pay. Over time, Osko will be saying hello to more and more financial institutions in Australia. You’ll then be able to pay or be paid between financial institutions in under a minute, 24/7. Best of all, it will be part of your financial institution’s existing mobile or internet banking, so all you need to do is what you’re already doing.

Goodbye waiting. Hello Osko.

For more information visit the Osko Website

How it works

The New Payments Platform works through three important parts:

1. The Basic Infrastructure

The Basic Infrastructure includes a network (which connects participants), a switch (which moves messages between participants via the network) and an Addressing Service which enables transaction accounts to be identified by a simpler payment address such as an email address, phone number or ABN number. The Basic Infrastructure will always be open for business, 24 hours a day, 365 days of the year.

2. The Fast Settlement Service

The Fast Settlement Service (FSS) is provided by the Reserve Bank of Australia. This world-leading capability enables every single payment made on the platform, regardless of its size, to be settled in real-time in central bank funds, across each financial institution’s Exchange Settlement Account (ESA).

3. Overlay Services

The Overlay Service is the name the industry has given to innovation that can leverage the benefits of the Basic Infrastructure. These products or services could offer vastly different experiences, or similar experiences, and in many cases could compete with each other. This is where the New Payments Platform breathes life into innovation and competition.

The Platform uses ISO 20022, which is an International Organisation for Standardisation (ISO) format used for electronic data interchange between financial institutions or organisations able to move money and data. The benefit of ISO 20022 is that it is a global standard with messages able to convey more data than most other messaging formats.

Why ASL?

ASL specialises in providing a range of wholesale payments services to financial institutions. ASL provides high quality, value for money and efficient service to its Members. ASL has partnerships with best of breed service suppliers to ensure that it can bring to its member clients the best solutions possible to their financial payments needs.

ASL has operated for over 20 years supporting Australian Mutual organisations, was the first non-bank to hold an Exchange Settlement Account, and has an enviable performance record. ASL is an approved deposit taking institution and is supervised by the Australian Prudential Regulation Authority.

For further information on this, or any ASL product, please contact ASL.