Introduction to Fast Payments
Near real-time payments via the New Payments Platform
What is Fast Payments via API?
Fast Payments via API enables businesses to make payments in near-real time to Australian bank accounts using BSB and account numbers.
Built on Australia's New Payments Platform (NPP), it allows funds to be transferred and settled within seconds, with near-instant confirmation of the payment outcome. This makes it ideal for use cases where timing, certainty and a great customer experience are critical.
Our Fast Payments API is designed as a simple and reliable way for businesses to initiate outbound payments and move money instantly right from their own system or platform.
Why Fast Payments?
Traditional bank transfers based on BECS (Bulk Electronic Clearing System, 1987) can take hours or days to process, often creating delays in settlement and uncertainty around whether a payment has been completed.
Thanks to the NPP, Fast Payments remove these limitations by enabling payments that are processed and settled in near-real time. Businesses receive immediate confirmation of the payment outcome, allowing them to act on it straight away.
This provides greater control over payment timing and improves both operational efficiency and customer experience.
Key Features & Benefits
Fast Payment is designed to deliver speed, certainty, and simplicity.
For Businesses
- Near-real-time processing and settlement improves cash flow and reduces delays
- Immediate confirmation provides certainty on payment outcomes
- 24/7 availability enables payments at any time, including weekends and public holidays
- Direct account payments using BSB and account numbers
- Simplified operations with no batch processing or cut-off times
For Payees
- Funds generally received within seconds
- Greater transparency with near-instant confirmation
- Data richness for better context around each payment enabling easy reconciliation
- Consistent experience, regardless of time or day
How Fast Payments Works
Fast Payments enables businesses to send money in near-real time through a simple, streamlined flow.
Payment Initiation
The user initiates a payment, specifying the recipient's BSB and account number, along with the payment amount, reference and description up to 218 characters.
Real-Time Processing
The payment is processed via the NPP in near-real time.
Funds Settlement
Funds are transferred and made available in the recipient's account within seconds.
Confirmation
The user receives immediate confirmation of whether the payment was successful.
Payments should settle within seconds in the vast majority of cases. However, should the payee account not be NPP-reachable, the payment can be automatically rerouted via Direct Entry (DE) and may take up to 3 business days to settle. Customers can choose to opt in or out of DE re-route at start of API integration.
Where Can Fast Payments via API Be Integrated?
Fast Payment via API is designed to be highly flexible and platform-agnostic, making it easy to embed into a wide range of business systems and customer experiences.
Because it is API-based, it can be integrated into almost any environment where payments need to be initiated programmatically.
Use Cases
Fast Payment via API doesn't dictate the solution, it empowers you to create it. We can help you design a solution that will fit your needs and integrate with your existing systems and payment workflows.
Customer-facing examples
- In-app payments
- Customer refunds and good returns
- Claims and payouts
- Marketplaces and platforms
Back-office examples
- Supplier/vendor payments
- Payroll and superannuation
- Treasury movements
- Expenses, commission and incentives
Ready to get started?
To begin your Fast Payments integration, follow our Quick Start guide or explore other detailed guides on initiating payments and handling real-time responses.