The NPP presents significant opportunities for data-rich payments. Organisations such as payroll providers, cloud accounting software providers and superannuation gateways could harness the Platform’s ISO 20022 message capability to make salary, tax and superannuation payments.
But migrating these types of payments onto the Platform is one thing. Doing it in a way that truly brings to life the Platform’s ‘efficiencies’ we so often talk about, is another.
What’s required is a set of ISO 20022 structured data standards or ‘message usage guidelines’ that can be adopted within the NPP ecosystem. It’s these data standards that will help us to extend the utility of the ISO 20020 messages used by the Platform, defining what data should be contained within specific ‘fields’ to support the information required to enable ‘straight-through processing’ of payments into an organisation’s back office.
While work has already commenced at NPP Australia to develop these standards, we are now seeking input from the wider industry for payroll, PAYG tax and superannuation payments specifically. The aim of this consultation process is to obtain feedback from the industry and stakeholders on the proposed mandatory data elements to be included in the NPP ISO 20022 message, ensure industry needs are being met and that any relevant issues or considerations are being addressed in the overall approach.
As part of the consultation process, NPPA is providing the following documentation:
- Development of NPP ISO 20022 message usage for Payroll, PAYG Tax and Superannuation Payments – Market Consultation
- Development of NPP ISO 20022 message usage for Payroll, PAYG Tax and Superannuation Payments – Explainer Document
Interested parties should review these documents and then decide which of the following activities to participate in:
- A webinar at 2.30pm on Tuesday 12th February 2019 which will outline the approach being taken to develop these data standards and the consultation process. You can watch the webinar recording here.
One of the following industry roundtable discussions:
- SYDNEY, Friday 22nd February 2019
- MELBOURNE, Tuesday 26th February 2019
- OTHER LOCATIONS – TBC and depending on market demand
Organisations can provide input in writing to email@example.com by no later than Friday 8th March 2019.