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Showing 1 - 2 of 2 results for "Bulk Electronic Clearing System"

New government must prioritise payday super: SMC

KARREN VERGARA  |  WEDNESDAY, 16 APR 2025
... days to seven business days. SMC pointed out flaws in the payment processing under the current Bulk Electronic Clearing System (BECS) banking system, which is not optimised to meet the aims of the policy. "While investment in developing the New Payments ...

NPP not suitable as the primary payment system for payday super

MATTHEW WAI  |  WEDNESDAY, 9 APR 2025
... effective and reliable." The introduction of NPP is in response to the decommissioning the current Bulk Electronic Clearing System (BECS), but many other nations run at least two payment rails - one real-time and one batch-based. The RBA suggested that ...
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