Instant payments are here, page-9

I think at its essence the NPP's use case is generally C2C (pay a friend, bill splits, etc) and C2B (paying bills) not B2C.

Also, and Stweeve touched on this, the benefits of "realtime" is muted because all Australian financial institutions currently have closed APIs. Which means a customer needs to use the banks's apps/websites to use NPP's features - fragmenting the ability to have a good unified user experience.

If anything, it's probably worth keeping an eye on the developments in Facebook Messenger Payments, Apple Pay Cash, maybe Venmo (Paypal), probably something from similar from Amazon and Google - which follow on from Alipay, Wechat models - and have the optionality to cut out the Visa/Mastercard/Amex rails. Lots of water need to pass under the bridge though... and it might be something more like PPH that is susceptible if/when it happens.