The New Payments Platform (NPP) in Australia supports QR codes

Created on 4 March, 2025 • Australia Business News • 0 views • 1 minutes read

NPP Australia

The New Payments Platform (NPP) is a real-time payments network in Australia that allows consumers, businesses, and government agencies to send and receive money.The NPP is available 24/7 and supports a variety of payment types, including account-to-account payments, business payments, and government payments.How the NPP works

• The NPP is a centralized platform that connects participating financial institutions.
• Payments are cleared and settled in near real-time.
• The NPP supports "overlay services" that provide innovative payment services to end users.
• The NPP uses PayID, an easy-to-remember identifier that links to an account.
• The NPP supports Osko, a secure payment service that enables real-time payments between bank accounts.

Benefits of the NPP

• The NPP improves the efficiency of the Australian payments system.
• The NPP reduces the likelihood of delays in receiving funds.
• The NPP increases the importance of real-time behavior monitoring in preventing financial crimes.

The New Payments Platform (NPP) in Australia supports QR codes.The NPP QR code standard is based on EMVCo QR code specifications.

How does the NPP support QR codes?

• The NPP QR code standard defines the mandatory data elements for QR code-initiated payments.
• The standard can be used for both static and dynamic QR codes.
• The standard can be used for various scenarios, including e-commerce, invoices, terminals, and peer-to-peer payments.
• The NPP's PayTo feature uses QR codes to create seamless customer experiences.
• PayTo is a low-cost payment rail designed to replace direct entry payments.

What are the benefits of using QR codes with the NPP?

• QR codes can add to the momentum building around PayTo.
• QR codes can create seamless customer experiences.
• QR codes can be used to convey lots of information, such as how to pay a payee. 

History

The NPP was launched in February 2018. It was developed through industry collaboration in response to gaps in Australia's retail payments system.