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02/20/2018

Realtime Payments Goes Live in Australia

Bank Innovation

Australia’s realtime payments platform is live today.

Right now, New Payments Platform (NPP) will enable customers of three of Australia’s major banks: Commonwealth Bank, National Australia Bank and Westpac,
to send money through a service called PayID.

The realtime payments was first piloted in November between employees of Australia’s 13 major financial institutions.

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