[LINK] The New Payments Platform (NPP)

David Lochrin dlochrin at key.net.au
Wed Dec 28 14:42:33 AEDT 2016


On Wednesday 28 December 2016 13:55:01 sylvano wrote:

> Given the banks' ESA looks to be driven by the Reserve Bank, then it should be fine, yes?
> 
> http://www.rba.gov.au/payments-and-infrastructure/esa/

On my brief skimming of the above, it seems an ESA's risk is assessed by APRA but its liabilities are not guaranteed by either APRA or the Reserve Bank, and presumably not by the actual banks either.

> The facility to pay anyone instantly via their mobile number or email address is very appealing.

Why so?  How many payments would you make by bank-to-bank transfer instead of cash, pay-wave, or other credit account transaction, or bank cheque?

Perhaps it's all part of an attempt to white-ant the cash economy?

Your's in paranoia,
David L.



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