Indonesia vs Australia · Real-time payment systems compared
| Capability | BI-FAST | NPP |
|---|---|---|
| QR Code Payments | — | — |
| Wallet Support | — | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | — |
| ISO 20022 | ✓ | ✓ |
| Request to Pay | — | ✓ |
| Open API | ◐ | ✓ |
| Alias/Proxy | ✓ | ✓ |
Indonesia's real-time interbank transfer system launched by Bank Indonesia to replace the aging BI-RTGS for retail payments. BI-FAST supports 24/7 instant account-to-account transfers via bank account number or proxy ID across banks, fintech firms, and e-money providers. Built on ISO 20022 messaging with a modern API-based architecture, it is one of two key payment rails in Indonesia alongside QRIS (the QR standard). BI-FAST aims to be the backbone of Indonesia's digital financial infrastructure for its 280M population.
Australia's New Payments Platform is a real-time clearing and settlement infrastructure with the Osko overlay service for consumer-facing instant transfers. PayID lets users receive money via phone number, email, or ABN instead of BSB/account numbers. Built on ISO 20022 messaging from day one, NPP supports rich data payloads and is governed by NPPA with 100+ participating financial institutions. Note: NPP data includes all overlay services (Osko, PayTo, and other mandated payment services) — not just real-time consumer transfers.