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PayID and the New Payments Platform

Posted by JeremyL JeremyL
Message 1 of 39 2,780 Views

We're excited to announce that PayID and the New Payments Platform will be coming to Bankwest!

 

What is a PayID?

A PayID is a unique identifier you can link to your bank account and use to receive payments. It's something that's simple and easy to remember, like a mobile number.

PayID will be launching in 2018 with the New Payments Platform (NPP), a major industry initiative to enable faster, simpler, smarter payments in Australia.

When the platform launches, customers can choose to create a PayID and link it to an eligible bank account, or they can choose to continue using BSB and Account Number.

 

What is the New Payments Platform (NPP?)

The New Payments Platform (NPP) is a major industry initiative to develop new payments infrastructure in Australia. The new infrastructure will allow Australian consumers, businesses and government to process faster, simpler, smarter payments. Bankwest is excited to be participating in the NPP in 2018.

 

How do I create a PayID?

Once the New Payments Platform launches in 2018 we'll invite customers to register a PayID through Bankwest Online Banking or the Bankwest App.

 

How will PayID work?

When you need to send a payment, or someone needs to make a payment to you, you can share your respective PayIDs instead of BSBs and account numbers.

If you've ever worried about sending money to the wrong account, PayID will help with this too. When you pay to a PayID, the name of the person who owns that PayID is shown before you approve the payment. All you have to do is to confirm it's the right person and because PayID uses the NPP, money will be transferred almost immediately.

 

Is it safe?

Enjoy peace of mind with our No Loss Security Guarantee when you use the Bankwest App or Bankwest Online Banking (BOB).

If you suffer a loss resulting from an unauthorised transaction made though the Bankwest App or BOB, we will reimburse you, provided you have complied with the terms and conditions for those products and neither you nor any authorised user of yours have contributed to the loss.

 

If you have any questions, please feel free to ask us in this thread Smiley Happy

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SJS
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Re: PayID and the New Payments Platform

Posted by SJS SJS
Message 2 of 39 2,408 Views

Hi Jeremy,

 

Any word on when the NPP will launch? Will it be a matter or days, weeks or months?

 

Thanks!

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Re: PayID and the New Payments Platform

Posted by LyndsC LyndsC
Message 3 of 39 2,372 Views

Hi @SJS, we're super excited about NPP and delivering a faster payment experience. We're continuing to work with the other NPP participants across the banking industry in order to meet the timetable and we look forward to making some exciting announcements soon. For more info please visit http://www.payid.com.au Hope this helps!

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ACA
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Re: PayID and the New Payments Platform

Posted by ACA ACA
Message 4 of 39 2,351 Views

CBA annouced today that NPP will be available to all its customers from 'day one' unlike other banks who are phasing or staggering the rollouts. What was missing from CBA's announcement was that it doesn't seem to cover Bankwest Smiley Sad

 

Westpac, on the other hand, was clearer in their announcement that their initial rollout was for their 'core' customers and St George and Bank of Melbourne customers will get this later.

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Re: PayID and the New Payments Platform

Posted by chilicooper chilicooper
Message 5 of 39 2,205 Views

Any update - ING have offered me PayID already too...

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Re: PayID and the New Payments Platform

Posted by peternlewis peternlewis
Message 6 of 39 2,133 Views

Can my wife and I each register our own mobile phones and both be connected to the same joint checking account?  That is, can there be two PayIDs connected to a single account?  Will the "name of the person who owns that PayID" that is shown be the name that registers the PayID, or the name on the account it is connected to?

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Re: PayID and the New Payments Platform

Posted by LyndsC LyndsC
Message 7 of 39 2,082 Views

Hi @chilicooper

Whilst we'll be launching in the coming months, given it's a brand new service we're taking some extra time to ensure that when we do launch, it's a seamless experience for our customers.

In the meantime, you can take some simple steps to prepare for NPP by ensuring your mobile number is up to date for PayID, and that you're always using the latest version of our Mobile App on your mobile device. You can view more info here


@peternlewis, you certainly can, providing you each use a different mobile number.

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Re: PayID and the New Payments Platform

Posted by JATierney JATierney
Message 8 of 39 1,942 Views

I have already used my mobile number to link to an account at another financial institution.  I thought I could use an email address as a PayID as well. . Will you be set up to allow email addresses to be used as well?

Thanks

Julie

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