Launch of AUD payment rails brings higher speed and lower costs

Launch of AUD payment rails brings higher speed and lower costs

Global solutions are essential for companies operating across fiat and cryptocurrencies, whether you are a crypto native business or exchange, or a merchant company receiving and remitting in both fiat and digital currency. But a truly global payments service is also local, enabling a business to receive and remit funds with local suppliers and clients through local payment rails.

BCB already provides local payment rails in Europe and earlier this year we launched local rails in the US. In our latest step in building a global end-to-end service we launched local rails in Australia, through the Bulk Electronic Clearing System (BECS) and in February 2025, following our successful BECS launch, we’re thrilled to announce connectivity to Australia’s New Payments Platform (NPP), bringing you real-time AUD transfers at your fingertips. Time to experience almost instantaneous payments, settling in seconds, not days.

The launch of BECS addressed growing client demand and offered two major benefits:

Faster settlement – transactions initiated during Australian business hours will be settled same day.
Lower cost – transfers via BECs will be 75% more affordable than the current payment methods using SWIFT.

By offering a rapid local payment method, BCB clients are able to improve their service and satisfaction among their local customers and suppliers. The solution streamlined a wide range of transfers from employee salaries to operating expenses and on and off-ramping client funds in local fiat currency.

NPP benefits include:

Instant settlement – Experience near-instantaneous payment processing, dramatically improving your cash flow and operational agility. No more waiting for funds to clear!
24/7 availability – NPP operates around the clock, 365 days a year, enabling you to send and receive payments anytime, all over Australia
Enhanced client experience – Offer your clients a cutting-edge, real-time payment option, boosting efficiency for both you and them.

Australian authorities have announced plans to introduce a licensing requirement for crypto exchanges. As a regulated entity ourselves, we welcome this step, recognising that regulation and security are essential to the maturation of crypto and its wider adoption. Integrating low cost and high-speed fiat payments is an essential element in the evolution of cryptocurrency, bridging the gap between traditional and digital finance.

Our AUD local rails launch enables Australian crypto native businesses and companies using crypto in any part of their services to plug into local currency payment rails seamlessly. It also provides a valuable bridge for international companies looking to expand their operations into Australia.

The launch of AUD payments through BECS was just the start of our ambitious strategy to develop a range of local payment rails in Australia, and in February we’re thrilled to introduce an instant payments service in AUD through the New Payments Platform (NPP). We plan to build SWIFT international capabilities into this product in 2025 as well as incorporating it into our BLINC network for instant settlement, 24/7/365.

Fully integrating local fiat payments with cryptocurrency is an essential element in the growth of digital asset markets and is equally as important as building systems for cross-border transfers.

BCB Group may be a global fiat/crypto service provider, but we know that being truly global also means being truly local.

To find out more about BCB’s AUD local rails contact your customer services representative via your dedicated channel or [email protected]

Author: Andrew Whitbread, Product Manager, Payments and E-Money.

Andrew is A Technical Product Manager with experience across the software development life cycle, using a strong academic engineering background to solve problems and make effective data-driven decisions.

Disclaimer

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