Australia vs Japan · Real-time payment systems compared
| Capability | NPP | Zengin |
|---|---|---|
| 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.
Japan's domestic interbank clearing network, one of the oldest electronic payment systems in the world, connecting over 1,000 banks and financial institutions. Originally a batch-processing system, Zengin was upgraded to 24/7 real-time operations in 2018 via the "More Time System" extension. Operated by the Japanese Bankers Association with settlement through the BOJ, it handles the vast majority of Japan's domestic credit transfers. Note: data includes all Zengin transactions (both real-time and batch-processed), as the system does not separately report its 24/7 instant component.