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The New Payments Platform (NPP), Osko and PayID FAQs

Westpac has started to progressively roll out the New Payments Platform (NPP) - Osko® and PayID services to our business customers. Late last year we enabled a small group of customers with the ability to receive Osko payments to their BSB and account number, with a subset able to make these payments and create a PayID. Effective from 1 March 2019, we extended the rollout to customers with eligible accounts in the ACT, South Australia and Northern Territory. These customers can now receive fast Osko payments.

The New Payments Platform (NPP) is a centralised platform that facilitates real-time clearing and settlements of payments between participating Australian financial institutions. It's a faster, simpler and smarter way to move money in Australia.

NPP and Osko® benefits include:

  • Managing your cash flow better
  • Reducing payment errors
  • Improved reconciliations.

Please contact your Westpac banker to get more information or help with getting NPP ready. You can also reference and download the Getting Ready for NPP (PDF 678KB) guide.

A PayID is like a nickname for your BSB and account number. It’s unique to you and your eligible bank account. At Westpac, if you sign in to Westpac Live Online Banking as a Personal customer, you can create a PayID using your mobile number. If you sign in as a Business, you may be able to use your ABN, ACN or ARBN to create your PayID.

NPP payments can carry more payment information, including up to 280 characters of payment description. As a result, if you receive a fixed file format, the end of day electronic bank statement may have some shortened data content.

The Reference ID is an additional field of up to 35 characters long that you may receive with an incoming Osko® payment. It can be used by the Payer to enter a reference or invoice number.

Longer descriptions may be shortened when exporting information.

There is no option to opt out of receiving NPP/fast Osko® Payments for most accounts. This means, if you've shared your account details with any clients or suppliers, once your bank accounts become NPP reachable in the coming months, you may start to see the Osko and SCT transaction types in your transaction listing online or in the bank account statements you receive.

Please contact your Westpac banker to get more information or help with getting NPP ready. You can also reference and download the Getting Ready for NPP (PDF 678KB) guide.