NPP isn't just a mobile payment solution, its a new platform for Australian banks to perform real-time clearing and settlements: https://en.m.wikipedia.org/wik

NPP isn't just a mobile payment solution, its a new platform for Australian banks to perform real-time clearing and settlements: https://en.m.wikipedia.org/wiki/New_Payments_Platform https://en.m.wikipedia.org/wiki/New_Payments_Platform It's basically an Australian national initiative backed by their banking system to build a whole new set of financial infrastructure. The RBC has a paper with an overview of these types of systems that could be worth a read if you're curious: http://www.bankofcanada.ca/wp-content/uploads/2016/06/sdp2016-14.pdf http://www.bankofcanada.ca/wp-content/uploads/2016/06/sdp201...