Dianne Shay, Senior Manager Payments Industry at NAB
"New Payments Platform, What it Means for Businesses & Consumers."
New Payments Platform ['NPP'] is a centralised platform that enables real-time clearing and settlements of payments between participating Australian financial institutions. No more waiting for 2-3 business days for funds to clear. It will change the way business is transacted going forward.NAB is one of over 60 Australian financial institutions connected to the 'NPP'. It’s a faster, simpler and smarter way to move money in Australia.
Consumers will be able to send a fast payment with funds transferred between participating banks in less than 60 seconds, 24/7 in most instances. We will be able to create and provide our PayID instead of our BSB and account number to make getting paid easier. The PayID is a unique identifier linked to your transaction account and can be your email address, mobile number or ABN. We will also be able to send more detailed descriptions (up to 280 characters) with our fast payments.
Dianne has over 30 years of experience in financial services as a champion of innovation that benefits all consumers and businesses. Recipient of the Women in Payments Thought Leader award in 2017, Dianne is acknowledged as an agent of change across the Australian payments industry with a proven track record in bringing people along the journey with her.
PLEASE NOTE. OWING TO CONSTRUCTION WORKS THIS MEETING WILL BE HELD IN THE PRESIDENT'S ROOM, FLOOR 1 RACV.