Australian banks are preparing to create a system of real-time payments

Mon 22 Jul 2013

Banks in Australia are developing a program of constructing the platform of real-time payments by 2016. Together with the Australian Payment Clearing Association, a number of banks - ANZ, Bendigo and Adelaide Bank, Citi, CBA, Cuscal, NAB, and Westpac - announced their plans to develop a platform till February. Last month, representatives of these banks held the first meeting of the New Payment Platform (NPP), have expressed their consent to participate in the project and developed a plan for the program.