Australia vs Russia · Real-time payment systems compared
| Capability | NPP | SBP |
|---|---|---|
| QR Code Payments | — | ✓ |
| Wallet Support | — | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | ◐ |
| ISO 20022 | ✓ | ✓ |
| Request to Pay | ✓ | ✓ |
| Open API | ✓ | ◐ |
| Alias/Proxy | ✓ | ✓ |
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.
Russia's System of Fast Payments (Sistema Bystrykh Platezhey, SBP) is the national instant-payments scheme launched by the Bank of Russia and NSPK in January 2019. It enables 24/7 real-time interbank credit transfers addressed by mobile phone number, plus QR-code payments to merchants (C2B), payouts from businesses to individuals (B2C), and cross-border transfers to CIS and friendly countries. The Bank of Russia acts as operator and settlement centre; NSPK provides operational and clearing infrastructure. Systemically important banks are mandated to participate; consumer transfers up to RUB 100,000/month are fee-free. Data transparency has decreased somewhat since 2022; the CBR continues to publish quarterly aggregate SBP statistics.