What is the New Payments Platform?

By February 7, 2018

The New Payments Platform is infrastructure that enables customers of different banks to make and receive real-time payments, 24 hours a day and 7 days a week. With the New Payments Platform, real-time payments can be directed to either a BSB and account number or a PayID, which can be something easy to remember like a phone number, email address or an Australian Business Number (ABN). You can read more about the New Payments Platform here.