The following report is by Biometric Update:
After three years of work, the New South Wales government is planning to complete its transition to Australia’s digital payments system, a faster, more efficient solution to traditional payments, according to InnovationAus.
The government has focused on ensuring agencies are using what’s already available to them, like the Customer Payment Platform (CPP), which is operated by the Department of Customer Service.
The state’s Department of Education and Transport are currently using the CPP, according to Lynne Cardwell, NSW Treasury’s executive director for banking and financial services. The CPP’s Student Finance Platform is being used at 1,650 public schools, with all schools, totaling over 2,200, expected to transition to the platform by June 2024.
The Treasury Department is continuing to work with Customer Service and the Department of Health.
Roughly 30 agencies currently use the platform. In September 2021, 20 agencies actively used the platform and the system completed over 10 million transactions, totaling AU$6 billion (approximately US$4 billion), according to Customer Service.
By using a single platform across government agencies, it becomes simpler to transition from the outdated Bulk Electronic Clearing System (BECS) to the New Payments Platform (NPP). The federal government has set out to phase out of the BECS system by 2030.
The government plans to transition completely to the NPP over the next 12-18 months, Cardwell says. Treasury is watching the rollout of new payment methods, such as the PayTo service, which would provide businesses with open banking payment offerings for customers, allowing them to pay directly from their bank accounts.
Read the rest of the report here.
AUTHOR COMMENTARY
Later this summer the national digital ID called MyGov ID is set to release.
Australia is at the forefront for a cashless society, being far ahead of the game than most, with very few people in the country using cash for payments; so to see this announcement was only a formality, as other nations are similarly doing the same.
New South Wales Australia To Introduce Contactless Payments Linked With Digital Wallets
Of course it will come to America, but hopefully we will be gone soon. Everyday is more bad news. Satan is wearing out the saints for sure, but we have that Blessed Hope to look forward to. See you all soon, I hope.