NPP facilitates real-time payments between bank accounts paired with value-add messaging.
There are different types of NPP offered by ASL:

• Single Credit Transfer (SCT) – a single real-time payment from one bank account to another
• Categorised SCT – used for industry-specific real-time payments
• PayTo – digital alternative to traditional direct debits (coming soon!)
• IFTI – International Funds Transfer Instruction (coming soon!)

NPP is a world class payments solution giving consumers, businesses, and Government a way to make fast, versatile, and data-rich payments to meet the evolving needs of a 24/7 digital economy. While the platform has been collaboratively developed by NPP Australia and 13 financial institutions, we directly connected on day 1 launch, proudly enabling access for our Members.

There are several features on offer with ASL’s NPP solution:

• Make real-time payments – clearing and settlement
• Send and receive low-value payments outside normal banking hours
• Send more complete remittance information with payments
• Address payments in a relatively simple way
• Overlay services like Osko by BPAY

The key benefits of ASL’s NPP solution are:

• Faster – funds received in less than a minute
• Convenient – 24/7 365 days per year
• Innovative – 280-character messaging
• Simpler – use of PayID

We consider our Customer’s as Members of ASL. As a Member, you also benefit from:

• Dedicated Account Management with access to a range of product, technical and operational resources. 24/7 monitoring and business continuity management.
• Best-in-class payment products to support your business with ongoing thought leadership and planning to ensure future products are available when your Customers need them.
• Payment experts available for consultation on your business and will represent your needs with key Suppliers, and industry regulators, associations.
• Member and Product onboarding are supported by a dedicated Implementation (Project Manager) so Members are supported at any point of these changes.

ASL have operated for over 20 years supporting Australian organisations and were the first non-bank to hold an Exchange Settlement Account (ESA). We are an approved deposit taking institution (ADI) and supervised by the Australian Prudential Regulation Authority (APRA).