While consumers’ expectations of instant fulfilment drive the global movement towards faster payments, finding the business case for investing in a new market infrastructure is difficult. Just ask Adrian Lovney, inaugural CEO of NPP Australia, the company formed by the payments industry to build and operate the New Payments Platform (NPP).
“Payments is a network business and payment systems only become useful when everyone is connected,” he explains. “Individual banks have their own capital and investment cycles, as well as managing the business environment, therefore synchronising a business case for combined investment can prove challenging.”
