22 08 16 14:17:01

What is the Mandated Payment Service?

The Mandated Payment Service (MPS) is foundational capability included by NPP Australia (NPPA) in the roadmap to extend and enhance the New Payments Platform (NPP). The MPS will enabling account holders to pre-authorise accredited third parties to initiate payments from their account via the NPP, opening up use cases such as:

  • Subscriptions and recurring payments
  • eCommerce
  • ‘On behalf of’ payment initiation using software platforms
  • Parameter based payments (i.e. IPO and Rights Issue)

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