Media releases
Westpac & NSW Government: Two centuries of partnership continues
14 February 2025
Today, Westpac announced a new expanded contract with the New South Wales Government,
continuing a partnership that spans nearly two centuries. The banking relationship has been a
foundation of financial stability and innovation in Australia.
Under the agreement Westpac will continue to provide transaction banking, merchant
acquiring and liquidity management services, and will add public transport payments and
commercial cards, including dynamic virtual cards, to its remit. In addition, the State will utilise
Westpac’s DataX insights to help inform government decision making.
“Westpac has a long, shared history with New South Wales,” said Nell Hutton, Chief Executive,
Westpac Institutional Bank. “Together we’ve navigated challenging economic times to help
maintain the State’s financial resilience, transformed payments services and helped optimise
the State’s balance sheet.
“In recent years we’ve facilitated critical payments quickly and securely to the people of NSW
during some very challenging times, including COVID-19 and the devastating bushfires of
2019-20, and floods of 2022.
“We’re excited about the next phase of our relationship, partnering with the NSW Government
as it increases the supply of new homes to solve the housing challenge and builds the
infrastructure that makes this state a world class place to live and invest, as well as supporting
the climate transition.
“We’re looking forward to working together to help people and businesses through the rapid
modernisation of our payments system, including the move away from cheques and bulk
electronic clearing system in the next 3-5 years. This will mean paying for everyday services
such as your licence, car registration and kids school fees will be easier for everyone in New
South Wales.
“We’re very proud of our continued partnership with the NSW Government, which underscores
Westpac’s dedication to supporting the prosperity of the economy and the people of New
South Wales.”
Westpac’s significant investment in the long-term future of payments is set to transform the
way services are accessed and utilised. By leveraging its proprietary technology, Westpac is
committed to making payments more inclusive, faster, and safer for all. These advancements
will enhance the efficiency of payments and ensure that financial services are within reach for
every individual and business in New South Wales.
Westpac is the leading banking partner for the Australian and New Zealand public sector.
The new contract commences on 1 April 2025 with a five-year term, with a further 2 x three-year option.
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