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Author: Marketing Team

PayTo ecosystem expands with certification of 12 Cuscal clients

Posted on by Marketing Team

Sydney, 4 October 2022

Cuscal Limited today announced that 12 clients have been approved to offer PayTo services to consumers and businesses, expanding the number of Identified Institutions certified as Payer Participants and Initiating Participants.

Payer Participants enabled by Cuscal
The following clients have been certified by Cuscal as Payer Participants: Bank Australia, BankWAW, Broken Hill Community Credit Union, Credit Union SA, Defence Bank, First Option Bank, Horizon Bank, Laboratories Credit Union, Police & Nurses Limited (P&N Bank, bcu) and RACQ Bank, joining Bendigo and Adelaide Bank, Great Southern Bank and People’s Choice that received certification from NPP Australia Limited (NPPA) in September.

Each of these organisations will now make PayTo available within their digital banking channels.

Initiating Participants enabled by Cuscal
Global Payments (eway, ezidebit) and Merchant Warrior have been certified by Cuscal to provide PayTo initiation services to businesses, joining Azupay, Ezypay, Monoova, Paypa Plane and Zai as Initiating Participants.

Commenting on the growing number of participants connected to PayTo through Cuscal, Nathan Churchward, Head of Product, Emerging Services said:

Successful completion of the certification process by such a diverse group of Identified Institutions at the same time is testament to the value of partnership and collaboration when it comes to advancing complex industry programs like PayTo. With over 14 bank and credit union brands and 8 payments service providers now connected to the PayTo ecosystem through Cuscal, we are cementing our position as the undisputed leader in the provision of enterprise NPP services.


About Cuscal
Cuscal was the first participant to be certified by NPPA as both an Initiating Participant and Payer Participant for PayTo. Cuscal facilitated the creation, orchestration, and initiation of the first live PayTo payment on the NPP.

Cuscal’s NPP solution is the only fully compliant solution currently in market delivering all the features of the NPP, with access to all the flows and options for NPP messaging and services, optimising the PayTo and real-time payment experience for customers.

With over 4 years NPP implementation experience, enabling 60+ implementations since 2018, Cuscal has helped more organisations to access the NPP than anyone else, including more than half of all financial institutions and all the payment service providers that are providing their customers with payments on the Platform today.

About the New Payments Platform (NPP)
The NPP enables smarter, faster and simpler payments for businesses and consumers, including PayID and PayTo, a new digital way for merchants and businesses to initiate real-time payments from customers’ bank accounts. PayID is a registered trademark of NPP Australia Limited. Osko is a registered trademark of BPAY Pty Ltd. NPP Australia Limited and BPAY Pty Ltd are part of the of Australian Payments Plus group. For more information visit www.nppa.com.au

Media contact
Simone Perryman, sperryman@cuscal.com.au

Cuscal becomes an accredited data recipient, opening the door to regulated data sharing and payments for Australian enterprise

Posted on by Marketing Team

Sydney, 23 September 2022

Cuscal Limited, Australia’s largest industry provider of payment solutions for the Australian financial services sector, was granted accreditation to participate in the Consumer Data Right (CDR) as an unrestricted accredited data recipient by the Australian Competition and Consumer Commission (ACCC) this week.

Announcing Cuscal’s accreditation, Jamie Leach, Domain Lead for Regulated Data Services at Cuscal said:

Accreditation at the unrestricted level is a critical pillar of our regulated data strategy. Following the successful implementation of solutions to support clients manage their ongoing CDR data holder obligations, accreditation allows us to develop further and evolve our service offering to support clients develop high-value data recipient use cases as they pursue greater internal efficiencies and enhance the customer experience they offer.

Kieran McKenna, Chief Risk Officer at Cuscal added:

With a mature Risk, Compliance and Governance structure in place, we are working at pace with the ACCC to complete the onboarding process to fast-track a future where we can support more organisations to participate in the CDR. As an ADI regulated by APRA, we have over 50 years of experience sponsoring clients into the highly regulated payments system. With CDR accreditation we will provide similar services as an intermediary, sponsoring enterprises to participate in the CDR ecosystem.

Enabling end-to-end digital commerce

With the Federal Government regulating data across the economy, Cuscal is focused on building a platform that simplifies access to the wider regulated data ecosystem, beginning with data sharing via the CDR and the newly launched payment method PayTo.

Commenting on Cuscal’s strategic investment in regulated data services, Jamie Leach said:

Uniquely positioned at the intersection of data and payments, accreditation as a data recipient builds upon our trusted industry position and heritage in payments and banking and will enable Cuscal to offer a depth and breadth of regulated data services to Australian enterprises that will be unrivalled in the market.

About Cuscal

For more than 50 years, Cuscal has championed competition in banking and payments in Australia. More recently, Cuscal has moved beyond banking and payments into the broader data economy. Drawing upon extensive experience managing payments data that is digital, regulated, must always be secure, and flows seamlessly between consumers and enterprise, Cuscal provides data holders and data recipients access to a suite of secure and robust capabilities for the collection, sharing, management and storage of data subject to CDR legislation.

Media contact
Simone Perryman, sshields@cuscal.com.au

PayTo for business. The always-on digital way for businesses to initiate real-time payments from customers’ bank accounts.

Posted on by Marketing Team

The rollout of PayTo capabilities to online banking channels, with Great Southern Bank leading the way, has sharpened focus on ‘how’ and ‘why’ businesses should become initiating participants to enable real-time and future dated payments from their customers’ bank accounts.

In this post we look at how PayTo can help initiating businesses thrive in a digital economy with fast, reliable and secure payments that keeps money moving 24/7.

The case for PayTo

As an enabler of real-time digital commerce, PayTo supports a broad range of use cases, delivering tangible benefits for the initiating business, including:

Explicit customer authorisation before any payments can be processed from bank accounts, addressing one of its biggest payment challenges facing businesses today; the requirement for consent via Strong Customer Authentication to reduce the risk of fraud, unauthorised payments and chargebacks.

Message response times that are delivered in seconds, confirming that valid account details have been provided, that payment has been authorised by the account owner, and that funds are available at time of payment, improving the certainty of successful payment outcomes for the initiating business.

The real-time settlement of funds at time of payment to improve cashflow availability for reinvestment in the business.

From an operational perspective the data-rich ISO messaging capabilities of the NPP enables more precise transaction data to be included within payment initiation and clearing and settlement messages. Data that more accurately describes the terms of the payer customer’s authorisation, including; payment type (recurring, one-off or ad hoc), any ultimate creditor’s name, descriptions and creditor’s reference(s), all support the easier reconciliation of payments. This also provides richer data insights that businesses can use to tailor their products and services to optimise customer experience.

The format of PayTo mandates and the data that can be included offers significant benefits in terms of data quality and visibility, compared to the relatively opaque nature of direct debit arrangements established under the BECS Direct Entry system, particularly if the payment is being facilitated via an intermediary.

Taken individually, each feature of a PayTo mandate improves an aspect of the payment experience. Taken together they can help lower the total cost of payment acceptance for the initiating business.

How to connect to PayTo as a Payment Initiator or Initiating Business

Payment service providers, platforms and payment facilitators that process payments on behalf of other businesses, as well as high volume and high growth businesses that process their own payments, can connect to PayTo as a Payment Initiator through Cuscal, the market leader in NPP. Benefits include:

  • Only one access point required to initiate payments with all financial institutions connected to the NPP.
  • APIs supporting seamless integration and straight-through processes.
  • Structured data capabilities to support automated reconciliation.
  • Centralised, secure storage of PayTo mandates reducing the reputational risk from payments data breeches.

Other businesses can connect to PayTo as an Initiating Business through a Payment Initiator, benefiting from:

  • Real-time account validation when a mandate is created.
  • PayTo authorisation by the account owner through secure bank channels.
  • Real-time funds verification at the time of payment.
  • Real-time notification of payment outcomes.
  • Faster settlement compared to other payment methods.
  • Integration of notifications into customer service and support processes when a PayTo mandate is paused, changed or cancelled.

With PayTo now live in banking channels are you ready to transform your business with PayTo? To find out more about connecting to PayTo as a Payment Initiator, contact Cuscal.

Today’s foundations for tomorrow’s payments | Curious Thinkers 2022

Posted on by Marketing Team

Nathan Churchward (Cuscal) moderates a session with Christian Westerlind Wigstrom (Monoova), Luke Fossett (GoCardless) and Marnie Ryan (NPPA)

As one of Cuscal’s key strategic priorities and a true leader in this space through our ongoing commitment with the NPPA, this session aims to reinforce the benefits of PayTo and to get clients excited that there will be take up of PayTo. The content will be aimed at sharing the benefits on the initiator side as well as demonstrating what’s important from a payer side – how do our banking clients position this as a competitive advantage with their customers?

Cyber Security: Disruptive thinking in Cyber Risk Management | Martijn Verbree

Posted on by Marketing Team

Martijn Verbree joins virtually for his talk on Cyber Security at Curious Thinkers 2022.

This is an extremely important topic for organisations as it is a growing problem for their business and customers. The keynote will give insights and knowledge to strengthen security measures and educate customers to be cybercrime-wise.

Digital Currency Landscape | Anthony Jones and Steve Vallas

Posted on by Marketing Team

Anthony Jones speaking at Curious Thinkers 2022.

Everyone has heard about it, and everyone is either involved or knows someone who is in some way. The Digital Currency afternoon aims to provide attendees with an understanding of the overall landscape and where the opportunities lie for all client segments, what the regulators are thinking and how Cuscal is responding to this increasingly important topic.

Industry Evolution: How the Fintech community is enabling growth and innovation | Curious Thinkers 2022

Posted on by Marketing Team

A panel discussion with Rimal Gokani (Zai), Tim Wilks (Coinspot) and Adam Theobald (Ordermentum) at Curious Thinkers 2022.

The market is changing, and you can get there when you have to meet regulatory requirements, or you can get there on your own before you have to. This session aims to provide tips on how to deal with the changing market by showing how the fintech community is responding.