Participants in Australia’s New Payments Platform will be directed to roll out support for a range of new capabilities between now and the end of 2022, under a technology roadmap (PDF) published today by the NPP’s operator.
Payment processor Cuscal says it is working with one of its clients to investigate a “spike” in PayID enquiries and resolutions.
The Reserve Bank of Australia is working with the Australian Prudential Regulation Authority (APRA) on developing standards for reporting the performance of retail banking services after a spike in outages at major financial institutions in 2018.
The Reserve Bank of Australia has called for access to the New Payments Platform to be broadened a range of payments services providers.
A spokesperson for Westpac has confirmed that the bank “detected mis-use” of the New Payments Platform’s PayID feature and “took additional preventative actions which did not include a system shutdown.”