ANZ today announced the expansion of ANZ Express Payments, with inbound cross-border payments from all AUD Clearing Services customers, up to AUD$500, now processed in near-real time, 7 days a week.
After becoming the first major Australian bank to execute a cross-border transaction in near-real time in July 2024, more than 400 international banks are now able to access ANZ Express Payments, which routes eligible payments via Australia's fastest payments network, the New Payments Platform (NPP).
ANZ Managing Director, Transaction Banking, Lisa Vasic said: "ANZ is proud to be a leader in international and cross-border payments and this change means Australians can benefit from ANZ's investment in technology, even if they don't bank with ANZ.
"The activation of ANZ Express Payments for all AUD Clearing Services customers marks a significant step in our rollout of the Express Payments system," Ms Vasic said.
All international banks sending cross-border payments into Australia through ANZ's AUD Clearing Services will have payments directed through real-time rails, as long as those payments meet ANZ's requirements for NPP processing, which include payment formatting standards and the value cap of AUD$500. ANZ plans to increase this in the future via a staged rollout.
This initial payment value threshold of AUD$500 will allow close monitoring of transaction flows. ANZ will support international banks adjust to changes in funding and liquidity which may arise due to 7-day payment processing.
ANZ supports multinational organisations and financial institutions with the movement of money and goods across the region and the world. ANZ Institutional continues to hold its position as lead provider of global AUD bank-to-bank clearing services for the 16th consecutive year, according to the recent FImetrix survey.
