What is the New Payments Platform (NPP)?
The New Payments Platform is a centralised platform that facilitates real-time clearing and settlements of payments between participating Australian financial institutions.
Westpac is one of over 60 Australian financial institutions connected to the New Payments Platform. It’s a fast, simple and smart way to move money in Australia.
The first two services introduced on the NPP are Osko (near-real time payments) and PayID (easy to remember identifier - such as a mobile number - that links to your account).