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The network effect of PayID as a driver of customer engagement

In July 2020, the New Payments Platform (NPP) celebrated the registration of the 5 millionth PayID. In reaching this milestone I thought it would be interesting to look at the correlation between PayID registration and customer use and engagement. An analysis of the data we’re seeing for payments processed by Cuscal’s NPP solution tells a really positive engagement story.

Cuscal provides NPP services for 40 financial institutions that operate more than 50 banking brands. Partnering with Identified Institutions and NPP Participants our clients range in size, serve a variety of customers and are geographically distributed across Australia, offering a good representative sample of the Australian banking customer base. In fact, Cuscal processes more than 20% of all NPP payments and Cuscal’s clients have registered more than 25% of the 5 million PayIDs.

Our personal banking clients have been very successful in promoting PayID registration and Osko® to their customers, and now these banks, credit unions and their customers are benefitting from the convenience of making and receiving payments in real time.

Here are some interesting shifts that have happened between January and July 2020 in the transactions that Cuscal has processed for our personal banking clients.

Receiving payments
While the overall number of PayIDs registered is increasing, what is even more valuable are the numbers that show customers are actively sharing their PayID with others when they wish to receive money to their account and are receiving Osko payments with increasing regularity.

  • In July 2020, customers received an average of 4.6 payments to their PayID, up from 3.9 payments in January 2020.
  • 14% of customers receive at least one payment each month to their PayID.
  • PayIDs that received at least one payment increased to 173,000 (25% up on January 2020).
  • 9% of inward NPP payments are initiated using a PayID.

Looking beyond the payments that are received using a PayID, the numbers show that customers with a PayID also receive more NPP transactions generally, indicating that they are more engaged with their bank and the use of their account.

  • Customers without a PayID received an average of 3.3 NPP payments to their account a month.
  • When a customer has a PayID the average number of NPP payments received increases to 4.6 a month.
  • Since January, this represents an increase of 24% for customers with a PayID and only 9% for those without.

Making payments
Because PayID usage increases once people see how convenient it is, it’s interesting to note that customers that have a PayID also tend to make more payments overall.

  • Customers with a PayID make 4.6 payments per month from their account compared to customers without a PayID that make 3.6 payments.
  • Since January 2020, this is an increase of 24% for customers with a PayID and only 9% for those without.

Why this is important for banks
As technology continues to transform many aspects of our daily lives, and digital adoption accelerates in response to COVID-19, customers see the value in being able to manage their everyday banking needs at their fingertips. The ability to make or receive payments in real time from their accounts using the NPP with Osko and PayID are the types of services that customers now expect to find in digital banking. Banks that have actively promoted PayID and Osko services to their customers are their accounts and using their digital banking services. Ultimately this is leading to greater customer engagement and satisfaction.

By Nathan Churchward, Head of Emerging Services

Monoova becomes the latest non-bank to connect to the NPP

Business person at computer

Sydney, 2 October 2019: End-to-end payments provider Monoova, and Australia’s leading independent provider of payment services for banks and payment platforms Cuscal, today announced the rollout of NPP payment capabilities to Monoova’s Automated Payment Service.

As the latest member of the very small group of non-bank Identified Institution to be enabled on the NPP, Monoova will now be able to add real-time account payables and receivables functionality to its enterprise-level payments solution.

Commenting on the roll-out, Head of Monoova, Christian Westerlind Wigstrom, said that by fully automating how funds are received and managed, business can focus more time on what they are there to do: servicing their customers.

The NPP holds the key to great customer experiences by making payments happen successfully and invisibly. No longer will businesses have to mobilise armies of bookkeepers and wads of spreadsheets to track incoming and outgoing payments. Most importantly, there is no need for businesses to hold off growth because they can’t manage the flow of funds.

We are very pleased to be working with Cuscal to help deliver ‘invisible payments’ to our clients, and our clients’ customers, and feel we have a strong alignment of values when it comes to doing the right thing by customers.


Nathan Churchward, Head of Product at Cuscal commented,

As an NPP Participant we’re focused on enabling organisations as Identified Institutions and providing wholesale access to the NPP through our REST APIs.

As an Identified Institution, Monoova is extending the benefits of receiving and managing real-time payments to other businesses through a single API integration with their Automated Payment Service. This is proof that the open access design of the NPP is working to facilitate fair access to the platform, driving competition and innovation.


Through Monoova, a single API integration provides scaling businesses with the ability to exchange payment information and instructions, issuing unique account identifiers and PayIDs to fully automate how funds are received and managed in real-time. Additional real-time payments functionality, including payment initiation, will be progressively introduced.

The move will make reconciliation, exception handling and reporting for NPP payments available in a single integration, alongside other payment channels such as Direct Entry and BPAY.

A number of Monoova’s business clients have commenced end-to-end testing of real-time payment capabilities within Monoova’s development sandbox, with access to the live environment expected to be progressively granted over the next month.

At Monoova, we’re all about freeing businesses to scale. We continue to enhance and grow our offering to make it easy, seamless and stress-free for businesses to pay and be paid,


Mr. Westerlind Wigstrom said.

About Monoova
Monoova supports scaling businesses with large, and often complex, ongoing transaction flows to fully automate how they receive, manage and pay their funds through one simple API integration. Its proprietary platform allows businesses to access a variety of payments functions, comprehensive reconciliation and reporting options and entirely customised real-time data.

Monoova (formerly known as Moneytech Payments) was founded in 2017 and is a fully owned subsidiary of Moneytech Group. Since inception, Monoova has processed over 1 billion dollars through its proprietary payments software.

Media contact details

Monoova media contacts: Susie Bell 0420 49 852 ,, Kirsty Timsans 0403 782 752

Cuscal media contact: Emma Hawke,

NPP launches with 60+ finance brands, 40 via Cuscal

The New Payments Platform (NPP) was made publicly available today with customers of more than 60 banks, credit unions and building societies now able to receive real-time payments. 40 of these are connecting via Cuscal, greater than 50% of the total, and we will be connecting more later this year.

Financial institutions will roll out NPP services in their own time. Most of our clients have full functionality now (including registering a PayID and making and receiving payments via Osko) others will roll things out more slowly, in the coming days, weeks and months. New Payments Platform Australia (NPPA) estimates that 4 out of 5 Australian bank accounts will be able to accept NPP payments within a few weeks of launch. All participating financial institutions are listed on the NPPA website.

Commenting on the launch of the NPP, Cuscal MD Craig Kennedy, said:
“Today really is a landmark day for banking and payments in Australia; the launch of a totally new infrastructure for payments happens very rarely. We’re delighted that we’ve been able to play a key role in the build and launch of the New Payments Platform and that so many of our clients can share this great day with us.

Australians have been rightly annoyed that it took so long for money to move between accounts at different institutions. Now, for customers at forward-thinking financial institutions that’s a thing of the past. It just goes to show that no matter how large or small your financial institution is, it can give you the latest and greatest payment innovations just as quickly as the biggest banks in Australia.”

The NPP is a brand new infrastructure for payments which has been collaboratively developed by 13 financial institutions, including Cuscal, to make payments faster, simpler and smarter for all Australians. These financial institutions mutually own New Payments Platform Australia Ltd (NPPA) which is responsible for building and operating the NPP. Cuscal MD Craig Kennedy sits on the board of NPPA.

The finance brands now connected to the NPP via Cuscal are:
List of financial institutions Cuscal is connecting to the New Payments Platfrom from launch

Media contact
Jake Waddell 0417 312 902

How fast is the New Payments Platform?

Cuscal is proud to be one of the financial institutions bringing the New Payments Platform (NPP) to Australia.

This video demonstrates just how fast a payment on the New Payments Platform is. It shows a live payment between an account at Teachers Mutual Bank account and SCU, using a mobile phone number as a PayID instead of a BSB and account number.

Using Osko® on the New Payments Platform, over 99% of payments will be completed in under a minute, most within seconds – giving people a quick and easy way to transfer money between accounts at participating financial institutions.

We are connecting more banks, credit unions and building societies to the New Payments Platform than anyone else – more than half of those using the NPP from day 1.

Learn more about connecting to the NPP with Cuscal.

NPP overlays will give great customer experiences

Nathan ChurchwardThe New Payments Platform (NPP) will be arriving in 2017 and will be a catalyst for fundamental change in the way financial institutions, businesses and everyday people make payments.

Most people in Australian payments-focused companies are aware of this much, but at Cuscal we’re finding that people are a bit hazier on the finer details of exactly how the NPP will work. One part in particular which has been causing some confusion is exactly how the NPP’s overlay services work. What do they do? How do they interact with the NPP’s basic infrastructure? And, what do they offer beyond the promise of real-time payments?

Most people will experience the NPP through overlay services
The first thing it’s important to know about overlay services is that they’re going to be the public face of the NPP – the way that most people will experience it. Here at Cuscal we’ve started to think of the NPP like the internet and its overlay services as the websites, portals, apps and other online tools that make it exciting, interesting and useful.

As I mentioned in my last LinkedIn post, BPAY will be offering the NPP’s first overlay service, currently known as the Initial Convenience Service (although it will get a consumer-friendly name before launch). The ICS will be live from Day 1 and will add important extra functionality to the NPP by allowing:

  • People to make payments in close to real-time availability via mobile devices
  • Payments to be linked securely to documents (e.g. a remittance advice or tax statement)
  • People to request money from others (Payment requests)

The possibilities for overlay services are nearly limitless
What’s really exciting about the NPP’s overlay services though is what will be possible – just about anything! We think that one of the most valuable things that they will offer is the possibility to create great customer experiences and this is what we set out to explore in our new animation and white paper.

  • The animation gives a simple introduction to overlay services, explaining what they are, why they’re important and showing how some potential overlay services and might benefit businesses and consumers. Watch the animation.
  • The white paper goes into more detail about how the NPP’s basic infrastructure will work, the different types of overlay services which might be created and how this could all combine to create great customer experiences. Read the Cuscal Using the NPP white paper.

By Nathan Churchward, Senior Manager, Payments