Are your processes stuck in the 80s?
Migrating your thinking and processes from the 1980s era BECS payment infrastructure to the ISO 20022 enabled, real-time capabilities of the NPP requires expertise and future-ready tech.
As a directly Connected Institution (CI) for PayTo we know the NPP inside out. And as an Australian real-time payments pioneer, we have a clear view of the big picture, your payday super destination, and precisely how to lead you there.
It's time to ditch the cassettes and pencils, and start streaming.
Unlock value in real-time on the NPP
Always-on
The NPP is an always-on, real-time payment system that is ISO 20022 enabled, and can deliver enhanced data capability compared to legacy payments infrastructure. By enabling contributions in real time, the NPP can improve the customer experience for fund members by putting their investments to work sooner.
Your business but better
Likewise, industry participants can enjoy significant efficiency uplift via improved data quality, messaging and automation enabled by the NPP.
Tomorrow's payments today
The transition from BECS to the NPP has already started. The first movers are moving and unlocking value. Contributions, rollovers and payouts can all move in real time on the NPP leveraging tools like PayID, PayTo and NPP Payouts.
Did you know?
The NPP supports the payment of large values. The largest single NPP transaction to date is in excess of $40 billion. It can enable:
- Standardised real-time superannuation payments 24/7, 365 days of the year.
- The end-to-end carriage of relevant superannuation data with the payment
- Account and payee validation
- Information in real-time including payment status notifications providing certainty
- The ability to initiate payments using PayTo
- Fast and efficient returns processing
The NPP has been designed to process single individual payments in real-time, however batch payments can also be processed via the NPP.
01
Elevate your error-handling capability
Zepto-powered payments can be enriched with data pertaining to member identifiers like Payment Reference Numbers (PRNs) and contribution types, enabling improved data quality, payment reconciliation and timely returns of unallocated payments. Participant accounts are validated, and payments move and are tracked with real-time status notifications in the flow giving you peace of mind from go to whoa — vital when the clock is ticking.
02
Data Integrity & Security
In a modern digital economy, the integrity of your data and information is everything. As a world-class payments infrastructure provider, you benefit from the most solid security foundations possible to reduce the risk of fraud and data breaches.
More here
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Speed & Visibility
Data-rich payments can flow securely and accurately between validated participant accounts 24/7, 365 days of the year on the NPP with real-time payment status notifications throughout so you have the complete picture.
Tomorrow's super funds
Automation Advantages
With PRNs, contribution data and payments flowing in real time between the payer and the superannuation fund, many manual processes such as data entry and reconciliation can be automated, reducing the risk of human error.
Enhanced data capability can improve experience for members by enabling real-time payment settlement and payouts, for example, and drive efficiency for participants by automating reconciliation and improving data quality.
Transparency and Safety Nets
The real-time data, validations, automations and status notifications of Zepto-powered super contributions can remove many opportunities for human error, but things can still go wrong. The true test of your payment partner’s mettle is its ability to respond and remediate. With Zepto’s stored value solution, for example, returned contributions can be promptly quarantined so they don’t get lost in an employer’s account.
Seamless Integration
The Zepto API is your key to future-ready super.
Enjoy seamless integration and direct data exchange between the payer (employer/member) and super funds. Linking payment data to SuperStream data minimises entry errors and improves accuracy. Say goodbye to readily compromised spreadsheets and manual data uploads. That might have been OK in the 80s, but so was rewinding cassettes with a pencil.
Making your move to the NPP
Countdown to BECSIT
With the scheduled retirement of Australia’s legacy BECS payments infrastructure looming, you need a trusted guide in your corner. The payments future is an exciting place full of promise and innovation. Zepto knows the way. After all, we’re helping shape it.
BECSIT is coming. Are you planning your journey to the NPP?