New Payments Platform

Transcription

1 18 May 2018 New Payments Platform Realtime Payments Summit Adrian Lovney CEO, New Payments Platform Australia Limited

2 New Payments Platform key capabilities Real time movement of money, account to account with real time central bank settlement Simpler addressing Data rich capability with ability for data to be carried with the payment Always available, 24x7, 365 days Page 2

3 What did the public launch look like? More than 60 participating Financial Institutions (either directly or indirectly) Day 1 Critical mass in terms of account reach, with an initial focus on retail customer accounts PayID available for registration by customers Osko product launched Financial institutions proprietary product and service offerings being progressively rolled out to consumer and business customers Page 3

4 PayID Making payments simple Page 4

5 13/02/18 15/02/18 17/02/18 19/02/18 21/02/18 23/02/18 25/02/18 27/02/18 1/03/18 3/03/18 5/03/18 7/03/18 9/03/18 11/03/18 13/03/18 15/03/18 17/03/18 19/03/18 21/03/18 23/03/18 25/03/18 27/03/18 29/03/18 31/03/18 2/04/18 4/04/18 6/04/18 8/04/18 10/04/18 12/04/18 14/04/18 16/04/18 18/04/18 20/04/18 22/04/18 24/04/18 26/04/18 28/04/18 30/04/18 2/05/18 4/05/18 6/05/18 8/05/18 10/05/18 12/05/18 14/05/18 Volume ( 000s) PayID registrations 1,600 Cumulative Registrations 1,400 1,200 1, Public launch 3 months Page 5

6 Customer feedback Just did my first payment using PayID. The recipient received the funds in less than a minute. Hello convenience! And how fun including emojis Had dinner with a friend and sent him some money towards our dinner using PayID. It was so easy Having already used PayID now. I am blown away. Almost instant nofuss payments as they should have been all along I get paid via Osko at work, less than 2 minutes after my pay slip I got money in the bank My brother messages me, he needs some money for weekend to take his son on outing. PayID to the rescue.this is why love PayID useful for family Page 6

7 First Overlay Service Osko Day 1 Day 2 Quicker moving money Flexible addressing More information More information Money received in less than 1 minute No need to share account details when using PayID More explanation with up to 280 characters Payment with a document or link to externally hosted documents Confidence in Delivery Through your Financial Institution Make a request to be paid PayID Name is displayed to confirm the intended recipient and customer can receive immediate confirmation Osko will be in the majority of Financial Institutions mobile & Internet Banking platforms Simple requests with up to 280 characters using PayID. Easily track and reconcile which payment requests have been paid in part or in full Visit for further information Page 7

8 Beyond P2P MobilePay Case Study Typical Faster Payments Product Evolution P2P Online POS B2B MobilePay Product Offerings P2P payments Online and AppSwitch (payments within apps) Point of Sale (POS terminal integration and mobile POS) Invoicing Payouts (B2C payments) Subscriptions (recurring payments) Key Facts About MobilePay Over 3.6 million users 55,000+ stores receive payment via MobilePay Online payments in more than 7,000 Danish online stores More than 214 million transactions per annum Page 8

9 More than Real-time Payments Data capability Value Funds settled in real-time Information Message foundation: ISO Schema Information rich capability Incorporation into business processes Structured or unstructured Link to a document or url link Universal industry message scheme: XML based Payment message standards Enables ease of back office integration and improved operational efficiency Promotes automation and straight through processing for business transactions Page 9

10 Possible Future Overlay Services (Products) E-Invoicing Combine complex structured data with payment Solutions could range from simple, mobile based solution to more complex ones using accounting software or ERP systems Stock Markets Faster payment of dividend payments, 24x7 Streamlined and efficient corporate actions with electronic data capture, request for payment and no batch cut-off times Compliance Deployment of new technology and capabilities to enhance and supplement current compliance processes Could be in areas such as KYC, AML and cybersecurity Payroll Specific payroll product could incorporate data fields explicitly tailored to the industry s needs Payroll payments could be made real-time, 24x7 together with disbursements for tax or superannuation Page 10

11 Fintechs & the New Payments Platform Where do Fintechs see potential? Alternative Payments Neo Banks Direct debit facilitation Currency / Stored Value Merchants E-Invoicing Page 11

12 Fintechs & the New Payments Platform What Fintechs tell us they are looking for Demonstration/testing facility 68% APIs 62% NPP regular meetup 54% "Connection" session(s) with banks/aggregators 43% Technical workshop 40% Webinars 25% Source: NPPA Survey of fintechs Sydney Start up Hub, Stone & Chalk and York Butter Factory Ventures, March 2018 Page 12

13 I want to Suggested access option 1. Receive payments via the NPP User of the platform (using PayID or BSB / account details to receive payments) 2. Make payments via the NPP 3. Send data with a payment Does Osko meet your needs? Yes User of the platform 4. Provide a different customer experience to what is there currently No Overlay Service Provider 5. Provide access to others and/or submit payment initiation messages 6. Provide payment services to my customers Are you an ADI/ planning on being an ADI? Yes No Connected Institution NPP Participant if want to be able to clear and settle on own behalf and provide access (significant technical effort) Identified Institution if prefer to have directly connected Participant settle on your behalf ( light touch) Page 13

14 Cultivating the Ecosystem Continued market education and information Information around access and use cases Webinars and workshops Development of an NPP API framework Promote standardisation and interoperability Provision of a testing environment Opportunity for third parties to better understand how the NPP works Test and learn Collaboration opportunities with banks Facilitate collaborative discussions and cocreation opportunities (e.g. #COLLABNPP initiative) Page 14

15 It s still early days but early indicators are encouraging Broad participation by financial institutions Positive customer reaction and adoption Considerable interest from corporates and fintechs Flexibility of platform supports extensive range of use cases as well as potential future products Page 15

16 For more information, please contact the NPPA team on Questions? Page 16

17 Thank you 2018 NPP Australia Limited (ABN ) Disclaimer: This presentation is for general information purposes only. Neither this presentation, nor any information contained in it, shall form the basis of any contract between NPP Australia Limited and any person, nor constitute a commitment by NPP Australia Limited to any person.