The Payments System Board has released information about its recent discussion about the New Payments Platform (NPP).

The Board discussed progress by financial institutions in rolling out NPP payments to their customers. Its members remain “disappointed with the progress made by some major banks and expect their commitments to be met”.  Reserve Bank review.

Board members also discussed the response by NPP Australia (NPPA) to the conclusions of the consultation recently conducted by the Bank and the ACCC on NPP functionality and access.

They welcomed NPPA’s confirmation that it would publish a roadmap for delivering new functionality and that it had already approved a compliance framework that would allow it to mandate certain core capability requirements for NPP participants. The Board says it “is expecting this roadmap to be ambitious and to be implemented”.