NPP real time payments programme delayed in Australia

Thursday 15 August 2019 10:56 CET | News

Australian customers will not get access to real time payments services until 2020 after AMP Bank and HSBC Australia confirmed further delays to their NPP programmes.

According to Banking Day, AMP Bank said that transaction customers would not be offered services linked to the National Payments Platform before 2020. The NPP system cranked up in February 2018 and as of June 2019 accounted for less than 7% of all direct entry payments, the batch-based system the NPP is ultimately intended to replace.

HSBC Australia also confirmed that its customers would have to wait until next year for NPP access. ME Bank and Bank of Queensland did not comment on the progress of their roll outs.

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Keywords: NPP, real time payments, Australia, AMP Bank, HSBC Australia
Countries: World