AUSTRALIA'S NEW PAYMENT PLATFORM

Faster, Simpler and Smarter Payments

Citi is one of 13 financial institutions that have collaborated together to build the New Payments Platform (NPP). The NPP will provide you with a fast, simple and secure way to send and receive payments within Australia, typically in less than a minute1. Faster payments, including the New Payments Platform, forms part of Citi's global strategy, and roll out will commence in 2019.

To find out more visit New Payments Platform Australia.

Key Benefits

  • Instant: Payments will typically be processed in less than a minute, with near real-time funds available to the recipient1
  • 24/7 Access: Available 24/7, 365 days of the year, enabling you to make and receive payments in real time and outside of standard banking hours1
  • Data-rich: You will be able to send and receive more information with your payment, allowing up to 280 characters to be included as a description, which will assist you in identifying payments
  • Simple: PayID will allow you to use an easy to remember identifier, such as a mobile number, an email address or company ABN, simplifying payments1
  • Secure: Faster Payments will continue to be supported by Citi’s fraud monitoring and detection services
PayID

What is PayID?

A PayID is an easy to remember identifier, such as telephone number, email address or company identifier, securely linked to your bank account. Using the NPP you will be able to send and receive payments by providing your PayID instead of your BSB and account number.

To find out more visit PayID FAQs.

Osko

What is Osko?

Osko by BPAY2   is the first overlay service on the New Payments Platform that will enable you to send and receive near real-time payments in Australia with funds available typically in less than a minute.

To find out more visit Osko FAQs.


Frequently asked questions


1. When will the NPP, Osko and PayID be available to use with my Citi account/s?
Implementation of NPP is part of Citi's global faster payments strategy, and roll out will commence in 2019. We will provide more details on timing, service availability and how to set up your PayID as we get closer to this date.
2. What will be the benefits of PayID and how will it work?
A PayID is an easy to remember identifier, such as a phone number or email address which you can link to an account. Once linked, you can choose to use your PayID instead of your BSB and account number to make and receive payments.
3. Will PayID replace BSB and account numbers?
PayIDs will not replace BSB and account numbers. You will still be able to use your BSB and account number, or you can choose to substitute these with a selected PayID when it becomes available.
4. How many PayIDs can I have?
Each unique PayID can only be linked to one account, although you will be able to have multiple PayIDs per account.
5. Will the NPP be secure?
Yes! Faster payments will continue to be supported by Citi's fraud monitoring and detection services.

1  Available using Osko by BPAY when the recipient’s account is capable of processing faster payments.

2    BPAY is registered to BPAY Pty Limited ABN 69 079 137 518.