Commonwealth Bank, National Australia Bank and Westpac customers in Australia can now use the New Payments Platform to transfer funds in real-time. The platform represents a billion dollar effort, which was set up by NPP Australia and built by Swift, to compete with countries like the UK in the faster payments arena. Other financial institutions such as ANZ are due to adopt the service soon.
Commonwealth Bank, National Australia Bank and Westpac customers in Australia can now use the New Payments Platform to transfer funds in real-time. The platform represents a billion-dollar effort, which was set up by NPP Australia and built by Swift, to compete with countries like the UK in the faster payments arena. Other financial institutions such as ANZ are due to adopt the service soon.