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World's Real-Time Payment Systems | Tenth Stop: Australia

Updated: Nov 3, 2023

A report by CYS Global Remit FinTech Development Team



In our latest update, we're excited to delve into Australia's Payto Service, a significant development within the New Payments Platform (NPP).


Launched in February 2018, the NPP stands as Australia's national real-time payment infrastructure, designed to simplify payments for households, businesses, and government agencies. This collaborative industry effort, operated by NPP Australia Limited (NPPA), offers near real-time funds availability 24/7.


The Reserve Bank of Australia reports impressive numbers, with the NPP processing over one billion transactions, totalling more than $1 trillion in the year ending April 2022.


Now, let's focus on a key aspect of the NPP: the PayTo service. PayTo brings convenience to Australian consumers and businesses by enabling third-party initiation of NPP payments directly from their bank accounts. While PayTo was officially launched in July 2022, it faced initial delays in implementation by some major Australian banks.


However, the Governor of the Reserve Bank of Australia has set a new deadline, pushing banks to make PayTo accessible to their entire customer base by April 2023. This mandate aims to accelerate the adoption and utilization of this promising payment service.


What's particularly exciting is that CYS Global Remit is actively working on integrating real-time payments through the PayTo Service into our mobile application. Stay tuned for more updates on this front as we strive to offer you even more efficient and convenient payment options.



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