New Payments Platform

The New Payments Platform (NPP) is a payments system that provides Australian consumers, businesses and government simple payments through a fast, versatile, data-rich payments system.

Is NPP safe?

Yes. Protecting our members’ funds is of paramount importance to The Capricornian. Payments made through the NPP enjoy the same high levels of security which The Capricornian is renowned for. Some of the protections in place include:

• 2 Factor Authentication – a two-step authentication process which adds another layer of security to your transactions. A unique code will be sent to your phone then entered into the relevant space where requested.
• 24/7 Fraud Monitoring – The Capricornian will ensure that all NPP transactions are monitored 24/7. You will be contacted if we suspect you have been the victim of fraud.

The New Payments Platform (NPP) is a payments system that provides Australian consumers, businesses and government simple.

PayID is an initiative of New Payments Platform and is available to Capricornian members right now.

A ‘PayID’ is a memorable piece of information unique to you, such as your phone number, email address or Australian Business Number (ABN) if you’re a business. You can register your PayID now via online banking, mobile banking or the Cap App.

Something as simple as your mobile number, email address or ABN can be used as your unique PayID.

Can someone take money from your account using PayID?

A PayID cannot be used to take money out of an account. It can only be used to receive payments. If someone wants to pay you, all you need to give them is your PayID and vice versa if you are paying them. When you make a payment to a PayID, you will be shown the name of the person you’re sending the payment too, prior to paying them. There will no longer be the need to memorise your bank account details.

To register using the The Cap App, follow these simple steps:

1. Download latest version of the App from App Store or Google Play
2. Log in to the App
3. Go to Transfers
4. Select the PayID icon
5. Add New
6. Select PayID contact details
7. Select account
8. OK
9. Accept Terms & Conditions
10. Verify PayID

To register using the The Capricornian Online Banking site, follow these simple steps:

1. Log in to Online Banking
2. Go to Settings
3. Select Manage PayID
4. Select Create PayID
5. Select contact details
6. Select Financial account
7. Verify PayID
8. Accept Terms & Conditions
9. Create

Osko by BPAY® is an innovative payment service, and because it is built on the New Payments Platform, it allows all Australians to make and receive faster, 24/7 payments. Rather than waiting hours or days for a payment from someone who owes you money, and who happens to use a different bank, money can be moved in near real-time with funds available almost immediately.

The service could be used when paying at a group dinner, socialising, or even paying a plumber on the spot. Osko by BPAY® enables payments to one another more conveniently than ever before.

Capricornian members are able to use Osko when making payments. The NPP has sped up and simplified how we all transfer money to one another.

How to make an Osko payment

To make an Osko payment, when on the External Transfer Screen in Online Banking or on the Cap App, select Osko under the Transfer Type section. This will mean the payment will occur in real-time, normally within seconds.

PayTo is an easy way to authorise and control payments from your bank account. PayTo can be used in several ways. A couple of examples are; a digital alternative to direct debit, and allowing you to pay directly from your bank account where you previously needed a card (like for in-app purchases and online shopping).

How does PayTo work?

A business or merchant will set up a ‘PayTo agreement’ with you. This is where you authorise how much, and when, you will pay for goods or services. It could be for a one-off, ad-hoc, or recurring payment.

The PayTo agreement will appear in your Online Banking for your authorisation. Once you have authorised the agreement, the business can debit your account according to the terms that you have agreed.

Is PayTo safe?

PayTo is a safe way to use your bank account for payments because a PayTo agreement must first be authorised within your internet or mobile banking app. This means it is subject to the same level of security as the rest of your banking relationship. Until the agreement has been authorised, a payment cannot be made from your account.

When a PayTo agreement is sent to your internet or mobile banking app for authorisation, you should check the details carefully and make sure it is in line with what you have agreed before authorising it.

Once a PayTo agreement is authorised, the business or merchant can only debit your account in accordance with the payment terms that you have agreed to.

Confirmation of Payee is an industry wide service rolling out in 2025 that matches the bank account details entered by a payer with the account details held by the recipient’s bank and displays a match outcome to the payer. We are working on introducing this service to our customers in 2025 as part of our commitment to the Scam-Safe Accord, to help safeguard our customers from fraud, scams and mistaken payments.

As part of our implementation of the service, we will firstly be enabling other banks to check our customers’ name, BSB and account number. For example, your account name could be displayed to payers, so they can verify that the account details they have entered matches yours before making a payment to you. If you have any questions or concerns on how this may impact you, please contact us.

How does Confirmation of Payee work?

When you make certain payment to a BSB and account number, Confirmation of Payee checks the details you enter against the account details held by the recipient’s bank and gives you a match outcome. This outcome helps you decide what you want to do next – and gives you more confidence that the money you’re sending is going to the right account.

How do I activate Confirmation of Payee?

You don’t need to do anything; Confirmation of Payee is already available in our app and internet banking. When you add a new payee or make certain payments to a BSB and account number you will be given the match result.

When does Confirmation of Payee check payment details?

Confirmation of Payee checks account details when you add a new payee or make a payment to someone you haven’t verified with the service in the past six months. It compares the payee name you enter with the account information held by the recipient’s bank and then provides a result indicating whether the name matches the account.

What information should I share when I want to receive payments?

To help ensure your payments are received without confusion or delay, sharing your account name, BSB and account number with the payer. You can also choose to provide your PayID. This is particularly important for businesses whose account name differs from the trading name used to accept payments.

How does The Capricornian check my payment details?

Confirmation of Payee compares the account name, BSB, and account number you enter with the details held by the recipient’s bank. It will then confirm whether the information is an exact match, a close match, or not a match at all. All information is transferred securely between financial institutions to keep your data protected.

What do the match outcomes mean?

Match

• A match means the details you’ve entered match the bank records of the intended recipient.

Close Match

• This means the details you’ve entered closely match the bank records of the intended recipient.

• This can happen with name abbreviations, initials, or small differences. However, you should still confirm the BSB, account number, and full account name directly with the person or business before continuing.

• Only go ahead with the payment if you’re sure the BSB and account number are right, and you trust who you’re paying.

No Match

• No match means that the details you entered do not match the bank records of the intended recipient.

• No match can also be returned where the character limit is exceeded.

• You should check the BSB, account number, and full account name directly with the person or business before continuing, as it’s your responsibility to confirm the account information.

• Only go ahead with the payment if you’re sure the BSB and account number are right, and you trust who you’re paying.

No Account Found

• No account found means the service could not confirm the account details you entered match.

• Check the BSB, account number and name with the payee.

Account is No Longer Active

• This means the account is now closed.

• The payment cannot go ahead.

Could Not Confirm

• The service may be temporarily unavailable.

• Check the BSB, account number and name with the payee.

Can I still make a payment whatever the match outcome?

Yes. Confirmation of Payee will not prevent you from making a payment, unless the recipient’s account is closed. However, if the result shows the details don’t appear correct, it’s your responsibility to verify the account information, such as checking directly with the intended recipient, before continuing. Only proceed if you are confident the BSB and account number are correct, and that the payee is legitimate. Always stay alert to scams and remember that mistaken or fraudulent payment may not be recovered.

Can I opt out of having my name displayed to others?

You may apply to opt-out of the Confirmation of Payee service in limited circumstances. You can do this by visiting any of our branches or by calling us. This means your account name and match outcome will not be displayed to payers and could impact the likelihood of the payer proceeding with the payment. To understand the opt out process and the implications, feel free to call us on 1300 314 900.