You might not have heard of Australia’s New Payments Platform (NPP), but it has been a big deal on our end. We’re going to take you through this new technology – and show you how it benefits you.
What is the New Payments Platform?
The New Payments Platform is a world-class platform for payments in Australia. The platform enables real-time clearing and settlement for payment solutions (between two people or more) like OrbitRemit. This infrastructure allows real time transfer of data and value – so our Australian customers will get faster transactions. Our transactions used to take up to one business day – but no more!
The New Payments Platform will also speed up some industries that may have otherwise had a one day wait time. Now, transfers will be almost immediate – which is a huge benefit for anyone looking to transfer money.
Alex Nicholas, General Manager at OrbitRemit Australia, says the following:
“The NPP is going to be a real game-changer for both businesses that accept payments, as well as individuals that simply want to transfer funds to each other. From the business perspective, it takes out the whole issue of having to check the bank statement the next day to see if funds have actually been paid – they’ll be there instantly! On the personal side, it’s going to make life a lot easier. When people want to send you some cash, you’re not going to have to rattle off BSBs and account numbers, it will all be tied to a unique identifier like an email address or mobile number.”
It’s pretty ground-breaking stuff!
Speaking of ground-breaking, if you’ve got three friends, you’re eligible for OrbitRemit’s referral program. All you have to do is refer three friends that successfully make transfers and you can earn cash payouts of GBP £75 or AU/NZD $150, depending on where you live. The new customers that sign up from your referral also get one free payment. Nothing beats free!