Media Releases

  • NPP Program welcomes new participants

    MEDIA RELEASE

    Sydney: 28 August 2013

     

    New Payments Platform Program Welcomes New Participants 

    The Australian Payments Clearing Association, the administrator of the New Payments Platform (NPP) Program, today announced that nine additional organisations have joined this major industry initiative.

    The initial participants are Australia and New Zealand Banking Group Limited, Bendigo and Adelaide Bank Limited, Citigroup Pty Ltd, Commonwealth Bank of Australia, Cuscal Limited, National Australia Bank Limited, Reserve Bank of Australia and Westpac Banking Corporation.

    The nine new participants are Australian Settlements Limited, Bank of America National Association, Bank of Queensland Limited, Indue Ltd, HSBC Bank Australia Limited, ING Bank (Australia) Limited, Macquarie Bank Limited, PayPal Pte Ltd and Suncorp Bank.

    APCA CEO Chris Hamilton said that the NPP Steering Committee was delighted to have so many leading organisations from across the payments spectrum joining the Program. 

    “It further demonstrates the industry’s commitment to take a collaborative proposal forward and develop new fast, data-rich infrastructure for everyday payments.”

    Program participants have the opportunity to review plans, budgeting, business requirements and technical concepts for the NPP as they develop, get involved in working groups and other forums and provide input to NPP decision-making. Executives from the 17 participants came together for an initial two-day plenary workshop on 26 and 27 August. The NPP Program is being independently managed for the industry by KPMG, following a competitive tender process earlier in the year.

    “Developing new payments infrastructure is a major undertaking with plenty of challenges to overcome. But with access to payments expertise and support from across the industry we can move ahead with confidence,” said Mr Hamilton. 

    The NPP Program was launched at the end of June 2013 with the initial define and plan phase due for completion by the end of 2013. 

    ENDS

    For further information

    Contact: Ida Turner, APCA Communications
    P: (02) 9216 4817 M: 0409716556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519 Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9221 8944 Facsimile +61 2 9221 8057 www.apca.com.au

  • Industry-wide program to develop the NPP gets underway

    MEDIA RELEASE

    Sydney: 1 July 2013

    Industry-wide program to develop the New Payments Platform gets underway

    The payments industry has begun a collaborative program to develop new, fast, flexible and data-rich payments infrastructure for Australia.

    The program commenced with the first meeting of the New Payments Platform (NPP) Steering Committee on Thursday 20 June 2013. The Committee initially comprises senior representatives from Australia and New Zealand Banking Group Limited, Bendigo and Adelaide Bank, Citigroup, Commonwealth Bank of Australia, Cuscal, National Australia Bank, Reserve Bank of Australia, Westpac Banking Corporation and APCA. The Committee will also have an independent chair, for whom a search process is currently underway. 

    The initial six-month phase of the Program aims to develop business requirements for the proposed platform, together with a detailed plan and budget for the next phases of development. The Steering Committee has appointed KPMG as program manager to ensure a well-resourced, highly collaborative industry program. The Proposal envisages 2014 seeing a Request for Tender for, and selection of, the key elements of the operating solution.

    The organisations represented on the Steering Committee have agreed to participate in, and fund, the initial design and plan phase of the Program. Other account-keeping institutions will also be invited to participate in coming months, in order to make the Program as open and comprehensive as possible. 

    The NPP Program responds to strategic objectives for the Australian payments system set by the Reserve Bank’s Payments System Board in June 2012, after a two-year review of payments innovation (published here). The industry’s proposal in response was submitted to the Reserve Bank and welcomed by the Payments System Board in February 2013 (published here). 

    APCA CEO Chris Hamilton said, “From a standing start last June, key industry players have debated and agreed on a world-leading business architecture, enlisted the support of the Reserve Bank for the approach, secured initial funding and hired globally recognised expertise to make it happen. I want to pay tribute to the hard work and effective collaboration of senior industry figures to give us such a great start.”

    “The Steering Committee is delighted to welcome KPMG on board as the program manager. Their strong pedigree in large-scale program management demonstrated global payments expertise and detailed knowledge of Australian financial services helped them win an intensely competitive tender. We are all now looking forward to working together to improve the Australian payments system.” 

    ENDS

    For further information:

    Contact: Brad Pragnell, APCA Industry Policy
    P: (02) 9216 4837 M: 0408 438 618 

    Australian Payments Clearing Association Limited ABN 12 055 136 519 Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9221 8944 Facsimile +61 2 9221 8057 www.apca.com.au