In the works since 2013, the New Payments Platform (NPP) will become operational later this year as an open access infrastructure for fast payments in Australia.
Bringing fast, flexible and data-rich payments to Australia, the NPP will encourage innovation and competition in payments which ultimately will benefit consumers, businesses and government.
With the ability to settle inter-bank transactions on a 24/7 basis, in close to real time, the NPP promises to shake up how finance is conducted.
Meanwhile, startups across the fintech space are wondering what exactly this will mean for them.
The NPP is holding this Q&A Session to help answer some of the burning questions startups may have around the platform, such as:
• What does the NPP mean for FinTechs?
• How can they take advantage of the new infrastructure?
• How can FinTechs go about building overlay services?
We are excited to invite Adrian Lovney, CEO of NPP Australia, to share an overview of what we can expect with the new platform.