ASL’s new real-time payment solution
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).