NPP Australia

Payments by Alias in the New Payments Platform (NPP) in Australia

Overview of Service

The Addressing Service in NPP is called PayID and it enables users, through their financial institutions, to link their account to a simple, easy-to-remember, unique identifier. Meaning that users in Australia can link their mobile number, email address, ABN or Organisation Identifier as their PayID to receive instant payments.

The type of PayIDs available may vary from institution to institution depending on who supports what. However, PayIDs can be registered and managed only by participating financial institutions with encrypted account details and users are also allowed to move PayID between different accounts and banks.

Supported Aliases

• Email Addresses. (For Person Payments)

• Phone Numbers. (For Person Payments)

• Australian Business Number. (For Merchant Payments)

• Australian Company Number. (For Merchant Payments)

• Australian Registered Body Number. (For Merchant Payments)

• Australian Registered Scheme Number. (For Merchant Payments)

Alias Directory Model

PayID - NPP Follow a One is to One Model, meaning One Alias can be linked to only One Account at any point in time. However, users can create multiple PayIDs that can be linked to either the same account, or different accounts.

PayID has a secure central database to store all PayID information and is operated by SWIFT as part of the NPP platform. The PayID itself sits in NPP infrastructure, that is, it is a part of the core capability of the platform and is an enabler that can be used by any overlay service. However, NPPA (the entity which operates NPP) does not have access to personal information in the addressing service. Only participants in the NPP have access to PayID information.

How to Send or Receive funds using PayID

A person or business can pay to a PayID from their online banking channels provided by FSPs or through Third Party Payment Initiating apps.

When someone enters your PayID, they will be shown that the PayID is registered to you by name so that they can confirm that they’re paying the right person before they hit send.

If the details are correct and there are no exceptions, funds should be received in under one minute.