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Real-time Payments for PSPs

Real-time Payments

Putting you at the forefront of Real-time Payments innovation

Driving innovation in payments is about more than just speed. It’s about transforming payments from an essential service to an enabler of enhanced customer experiences.

As one of Australia’s largest independent providers of real-time payment solutions, we have the expertise, scale and infrastructure to maximise every opportunity the New Payments Platform (NPP) offers.

Our real-time payment solutions enable banks, payment service providers (PSPs) and corporates who process payments on behalf of customers to:

  • Build new innovative services on top of core capabilities to acquire and retain customers
  • Embed modular NPP capabilities into proprietary systems and processes to solve business challenges and customer pain points
  • Improve ongoing liquidity and access to funds with real-time validation, processing, clearing and settlement
  • Increase employee productivity and improve workflow management by reducing the manual handling of payments
  • Enhance reconciliation processes with data-rich payments and real-time settlement

Real-time payments for payment service providers

At Cuscal, we can enable you to take advantage of real-time payments by partnering with you to provide wholesale access to the New Payment Platform (NPP) capabilities, freeing your business to focus on building innovative real time payment solutions for the end customer.

As a payment service provider, your end customers could be marketplaces, merchants or their customers. You can create services to register and assign PayIDs to the marketplace, merchants or customers. End customers can make payments to a PayID® (e.g., fund their digital wallets using NPP) and they can transfer funds in real-time to enable the marketplace or merchant to service their customers.

By using PayTo initiation services, you can remove the uncertainty of direct debits through account-to-account payments that incorporate a validated and pre-authorised payment agreement and notifications. This opens up the potential for payments to be initiated for ecommerce and other ad hoc payments, not just recurring or scheduled payment use cases.

Corporate and government organisations can also use Cuscal’s NPP payment services.

Benefits of connecting to real-time payments include:

  • The efficient utilisation of liquidity through the availability of cleared funds in real-time
  • Ability to make payments outside of banking hours
  • More complete remittance information included with payments
  • Simplifying payment reconciliation with unique account identifiers and PayIDs
  • Initiating pre-approved payments from your customers’ accounts using PayTo
 PayID®  is a registered trademark of NPP Australia Limited.

Key Takeaways

  • PSPs can make, receive and settle real-time payments.
  • PSPs can offer real-time merchant services to clients by leveraging PayTo payment agreements for initiating real-time payments.
  • PSPs can leverage payment agreements to initiate payments without being party to the financial transaction.
  • PSPs can enable domestic settlement of international remittances to customers using NPP.

Additional Information

Using Cuscal’s NPP and PayTo services:

  • You can make, receive and settle all categories of real-time account-to-account payments, including third-party initiation
  • You can offer real-time merchant services to clients by leveraging payment agreements for initiating real-time payments from their customers’ accounts
  • You can leverage payment agreements to initiate payments without being a party to the financial transaction (funds are transferred directly between two customer accounts), without needing to be a directly connected NPP participant
  • You can minimise technical, compliance and management overhead for real-time payment initiation and processing
  • You can participate in the payments ecosystem without investing in costly compliance and technology infrastructure
  • You can increase your speed to market, simplify contracts and pricing, and reduce management overheads compared to direct connection to the NPP infrastructure
  • You can work with a single provider to enable all payment flows and options
  • You can focus on innovation and removing friction from your customer experience rather than the technicalities of the payment system
PayTo®  is a registered trademark of NPP Australia Limited.

Using Cuscal’s International Payments Service you can enable domestic settlements of international remittances to customers using NPP.

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